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Back in May, we thought it seemed kind of odd that Morgan Stanley (MS) Chairman and CEO John Mack’s contract had been updated, but that the length of the contract had not changed. Yesterday, with the news that Mack was stepping down as CEO, it suddenly became clear why. A careful reading of that revised [...]
We’re starting to get bored writing about Martha Stewart Omnimedia (MSO) as much as we do. Within the past year, we’ve written about founder Martha Stewart’s guaranteed bonus and the $2 million she gets to allow her various homes to be used for production purposes. There was also the overly sunny letter that she penned [...]
For a company that relies on women growing tired of their lipstick or face cream or fragrance, the 8K filed by Avon Products (AVP) late yesterday seems downright bizarre. Are we really supposed to believe that the last time Avon freshened up CEO Andrea Jung’s employment contract, the Titanic was packing movie theaters? And yet, [...]
By now we’re used to reading filings that fret about the state of the economy. Many acknowledge that a prolonged weakened economy may wreak havoc with the bottom line… even if you have Kung Fu Panda’s Tigress (Angelina Jolie) on speed dial. In the 10-Q that Dreamworks Animation SKG, Inc. (DWA) filed yesterday, we noticed [...]
The Fannie/Freddie debacle provides many “teachable moments.” One of the classes we can sign up for is “what’s wrong with corporate employment contracts” – or what’s right with them, if you happen to be the executive who’s got one. As Michelle noted yesterday, the feds said they wouldn’t try to recover compensation from departing Fannie CEO Dan [...]
