New Delta CEO Richard Anderson will reportedly be paid an annual salary of $600,000. However, Anderson could earn another $15 million in performance-based incentives.
Here is the breakdown of the additional $15 million:
This Saturday Anderson will become eligible on to earn an additional $11 million in company performance-based incentives.
According to a document filed outlining those incentives, that sum is in recognition of the substantial compensation awards that he forfeited by leaving UnitedHealth Group where he served as executive vice president.
Anderson will also be eligible to receive another $4 million in performance-based pay next year. Read.
BMW CEO Norbert Reithofer is not happy. In a case which proves that nothing is immune to the sleight of hand of Chinese manufacturers and their ability and willingness to clone any product on earth, BMW has been forced to threaten legal action over a cheap knock-off version of their popular X5 SUV.
The Chinese-made SUV which ironically enough is called CEO is almost identical in appearance to BMW’s X5…especially from the rear.
“We have already taken steps against the marketing of the CEO (SUV) in Europe. Should this car be presented at the IAA, we will look into taking further legal steps,” a BMW spokesman said.
Forbes reports that Karl Schloessl, the owner of independent importer China Automobile Deutschland said he knew nothing of the legal action, but said it might well help sales of the model.Schloessl said he is planning to sell the cars at around 100 dealerships in Germany starting in October…again proving there is no shame among the Chinese or the vendors who get rich selling their knock-off merchandise.
The BMW X5 is pictured on the left and the Chinese CEO SUV is on the right.
Two hours after Michael Vick formally entered his guilty plea in his dogfighting involvement, team owner Arthur Blank addressed the team’s official stance in the matter.
Blank said he has accepted quarterback Michael Vick’s apologies and he does not plant to cut Vick right now.
Cutting Vick now, “would be a short-term fix at the expense of our long-term success,” Blank said. “We can not tell you today that Michael is cut from the team. Cutting him may feel better today, emotionally for us and many of our fans, but it’s not in the long-term best interest of our franchise.
“We’re putting the emotions, the shock the disappointment, the anger, the once-held-hope that this was not true, behind us.”
Blank did say however that he plans to recoup the $22 million signing bonus the team paid to secure Vick as their quarterback of the future. The team issued a letter of demand for collection to Vick’s representatives today.
From a legal standpoint, the Falcons have to keep Vick on the roster while the team pursues the bonus money.
From throwing parties at Howard University when he was just a pup, to interning at a record studio, to launching Bad Boy Records, to launching the hugely successful Sean Jean clothing line, …it seems like everything Sean P. Diddy Combs touches turns to gold.
Now the CEO of Bad Boy Entertainment is being credited with a different type of success. This time he’s being given credit for playing a major role in the successful turnaround of the once floundering Burger King fast food empire.
A multi-year deal between Combs and Burger King was announced in October of 2006 in which Diddy would be featured in a fresh ad campaign promoting Burger King’s new late night hours.
The result? Burger King’s sales rose more than 11% over the past year due to strong late night sales. And now the company has made an official statement crediting Diddy for being a major reason for the strong sales performance.
Diddy…You’re A Bad Boy.
Earlier this year Bank of America CEO Kenneth D. Lewis ticked off the banking industry’s problems to a group of BOA Executives which included a faltering housing market and a difficult interest rate environment. Yet, Lewis said he foresaw a watershed year for Bank of America…one that would give his bank a chance to inflict pain on competitors that lacked its scale, diversity and cash.
In his own words, “This is the time I think we could go for the jugular, really be disruptive and take market share,” he said, to loud applause.
According to the Wall Street Journal, within months, Mr. Lewis agreed to buy Chicago’s LaSalle Bank for $21 billion, he rolled out free online stock trades causing a blow to discount brokers, and he introduced a “no-fee” mortgage program designed to take business from competitors.
To top it all off, last week the aggressive CEO made an even more drastic move. He invested $2 billion in the much troubled Countrywide Financial Corp. A deal which at once helped stabilize the credit markets and gave Bank of America a sizeable position in the largest mortgage lender in the country. Countrywide’s shares rallied on the news.
Many wonder if Kenneth Lewis’ drive to be the best and the biggest stems from his humble beginnings and modest upbringing. Whatever the reason, there is no doubt that the man raised as an army brat and whose father left the family when he was just a boy…feels that he has something to prove. And by all accounts, he’s well on his way to proving it. Read.
As you can see from the above photo, Billionaire Mark Cuban is not afraid to get his freak on, on the dance floor. Now Cuban will reportedly take his dance floor prowess to the airwaves. The Dallas Mavericks owner is the latest celebrity rumored to be a participant in the next installment of the wildly popular ABC reality show Dancing With The Stars.
According to sources, Cuban’s dancing ability is not simply limited to doing the elcectric slide at the local bar…Cuban reportedly worked as a disco dance instructor when he was in college.
The show will also reportedly feature former 90210 star Jennie Garth, former Spice Girl Melanie Brown and singer Wayne Newton.
