Word: worthing
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...first to know that dictating what executives can get paid doesn't always work as expected. In 1984, Congress passed a law eliminating the tax deductibility of golden parachutes that exceeded three times base salary. Corporate America took that to mean anything below that multiple was fine: golden parachutes worth 2.99 times base salary proliferated, where before there were none at all. In 1993, Congress said only $1 million of an executive's salary would be tax deductible. So companies began paying their CEOs massive amounts in other forms, like stock options and deferred compensation...
...because of financial misconduct to pay back bonuses and incentive compensation. But that provision proved largely ineffective. The SEC didn't bring a case under this provision for four years, and when it finally found success - UnitedHealth's former CEO was forced to pay back more than $400 million worth of stock options gains, unexercised options and retirement pay after a stock options backdating scandal - the courts ruled that shareholders on their own couldn't sue under the law, setting a narrow precedent for who is allowed to reclaim pay after the fact...
...spent a huge amount of money on this trip, a large part of your personal fortune. So far at least, is it worth it? Absolutely. Even kids ask me, Wow, how could you possibly consider spending that much of your personal wealth on this particular event? And what people have to know is, it wasn't that I was looking for a place to go spend some money. It was that I was looking for a way to reach space.. And I've built businesses, and invested, and grown my assets to pull it off. And I've made...
...investment bank, Renaissance Capital, which on Sept. 21 sold a 50% stake to the Russian oligarch Mikhail Prokhorov for $500 million. Just over a month ago, Forbes magazine, in a profile of Renaissance and its New Zealand - born chief executive, Stephen Jennings, reckoned the same stake would have been worth $3.5 billion - seven times as much...
...alarming rate that has accelerated in recent years. As the glacier nears the coast, it breaks off into the Ilulissat fjord, a stream of churning ice that might have birthed the monster that sunk the Titanic. Those icebergs are spat out into Disko Bay, 20 billion metric tons' worth every year, where they loom above the tiny fishing boats that ply these deep, cold waters. Sail close and you'll find that these seemingly permanent cathedrals of ice, some 200 ft. to 300 ft. high, are leaking water like broken pipes. They're dying...