CEOs Get Haircuts in 'Say on Pay' Votes
Amidst a climate of populist outrage and corporate missteps, shareholders are voting en mass to cut executive pay thanks to a new government rule called "say on pay." The board of directors, who determine CEO pay, don't have to listen to the shareholder vote but most of are listening. The CEO of Sprint Dan Hesse received a $3.25 million pay cut after shareholders expressed concern with a deal Hessee cut with Apple to carry the iPhone on the Sprint Network. The deal will cost Sprint $15.5 billion and the Sprint will reportedly not profit from the deal till 2015. But are "say on pay" shareholder votes, while non-binding, a helpful feedback tool or do they encourage Monday morning quarterbacking?
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T-Mobile to start offering iPhone 5 on April 12
NEW YORK -- T-Mobile USA on Tuesday said it will start offering the iPhone 5 on April 12, filling what its CEO said was "a huge void" in its phone lineup....
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BlackBerry CEO Says iPhone Is 'Passe'
Morning Business Memo… It’s customers may be jaded about today’s release of its latest smartphone, but the CEO of BlackBerry sounds very confident about his company’s ability to compete. In pre-launch interviews Thorsten Heins calls Apple’s iPhone 5 “passé” and outdated. His Z10 is being...
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BlackBerry CEO Heins: Apple iPhone is outdated
He says iPhone doesn't allow for multitasking like new BlackBerry Z10 does
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CEO's Severance Was iPads, iPhone, Blackberry, Not Cash
The former CEO of insurer Marsh & McLennan received an unusual severance package that included his company-issued iPads, iPhone and Blackberry. But no cash. Brian Dupperrault, 65, announced in September that he would retire at the end of the year after five years as CEO and...
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