NEW YORK — Profits at big U.S. companies broke records last year, and so did pay for CEOs. The head of a typical public company made $9.6 million in 2011, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm.
TORONTO — Canadian bankers were among some of the highest-paid banking executives in North America last year, with three in the Top 10, according to a new list compiled by Bloomberg Markets magazine.
In all, six Canadian bank CEOs were in the Top 20, led by the Royal Bank of Canada’s Gordon Nixon, who came in at No. 4.
Nixon’s total pay package was US$12.6 million in 2012 according to the listings, up 25% from the year before, when he was in eighth place.
Remember when Hank Paulson grudgingly left Goldman to become Treasury Secretary? As was disclosed subsequently, the move may have been ungrudging in retrospect due to a very specific ulterior motive: in July 2006, Henry Paulson liquidated 3.23 million shares of Goldman in a one time public sale. At the then GS stock price of $152 this meant a one time gain of $491 million. But not just $491 million - $491 million tax free.
HAVANA — Cuba will begin deregulating state-run companies in 2014 as reform of the Soviet-style command economy moves from retail services and farming into its biggest enterprises, the head of the Communist Party’s reform efforts said.
Tyree Johnson scrubs himself with a bar of soap in a McDonald’s bathroom and puts on fresh deodorant. He stashes his toiletries in a Kenneth Cole bag, a gift from his mother who works the counter at Macy’s, and hops on an El train. His destination: another McDonald’s.
Johnson isn’t one of Chicago’s many homeless people who seek shelter in fast-food joints. He’s a McDonald’s employee, at both stores — one in the Loop, the other about a mile away in the shadow of Holy Name Cathedral.