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...effective immediately, he was cutting their total compensation 50% from what they received a year ago. Feinberg's previous public position was the administrator of the September 11th Victim Compensation Fund. In that job, he had to put a price tag on the dead. (See pictures of the stock market crash...
...real problem with Feinberg's scheme may be its reliance on the market. If we have learned anything from the financial crisis, it should be that the market can get things very, very wrong. So paying more people mostly in stock may result not in his stated goal of pay for performance but in pay for randomness. Feinberg is probably correct that his compensation structure won't hurt these firms' ability to retain top talent. Wall Streeters love to let it ride. The question is whether more people hell-bent on boosting their stock price will produce a better outcome...
...benefits, but how about dismantling tax benefits for owners of second homes? In many European countries speculators build tax-subsidized holiday homes, and then rent them out at exorbitant rates while receiving substantial tax relief on their mortgages. The result is to price local people out of the property market while losing agricultural land to so-called residential development, which may well stand empty for more than half the year. Tax benefits for property speculators are costly and regressive and any politician considering ways to save money should give them a long hard look. M. Esdaile Walker, COLOGNE, GERMANY...
...While financial details were not released, news of the deal caused First Solar's stock to jump 11% on the day of the announcement. "This major commitment to solar power is a direct result of the progressive energy policies being adopted in China to create a sustainable, long-term market for solar and a low-carbon future for China," First Solar CEO Mike Ahearn said in a statement. (See the 10 green energy ideas...
...renewable sources (excluding hydropower); this target jumps to 8% in 2020. That may not sound like much, but according to a recent study by the China Greentech Initiative, a coalition of Chinese and foreign businesses, NGOs and government organizations, environmental technologies including renewable energy could become a $1 trillion market in China by 2013. In a recent commentary, Pulitzer Prize - winning journalist and author Thomas Friedman wrote that China's decision to go green "is the 21st-century equivalent of the Soviet Union's 1957 launch of Sputnik...