rmptr
Silver Member
Mother's Cookies... Chapter 11
I just discovered further evidence of financial problems...
Yes, I like cookies!
(10-08) 17:21 PDT -- Mother's Cookies, an Oakland institution for 92 years, has been shuttered, its owner seeking bankruptcy protection for the company.
The ending was abrupt: Workers for the company, which shifted its baking and distribution operations to plants in Ohio and Canada in 2006, told workers Friday that operations would cease and cookies would no longer be made as of Monday.
The company cited rising prices for raw materials and fuel, and on Monday filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the District of Delaware.
Mervyns: Time to move on
Mervyns just took another shot, this time closer to the head, with major job cuts at its Hayward corporate headquarters. Beyond the word "significant," Mervyns spokespeople wouldn't comment, although sources put the number between 200-300 out of an h/q staff of 1,000.
This after closing 26 of its 176 stores, including four in the Bay Area, as it struggles to get out of bankruptcy. Chief executive John Goodman said the cuts "will put Mervyn's in a better position to return to profitability."
Wells Fargo execs: fair day's pay?
With all eyes on executive compensation, what do you make of these numbers?
Equilar, an executive compensation research firm based in Redwood Shores, gave us the following "career compensation" figures for Wells Fargo's chairman and former CEO Richard Kovacevich and former executive vice president, chief operating officer and current CEO John Stumpf.
Richard Kovacevich, 1998-2007: $73,980,824 in cash compensation (base salary, bonuses, other benefits and perks). In addition, Kovacevich made $189,883,327 in pre-tax profits from stock options.
John Stumpf, 2000-2007: $28,589,618 in cash compensation. Stumpf also exercised stock options, realizing $21,510,356 in pre-tax profits.
With so much attention to the obviously egregious pay packets for company chieftains who provably aren't worth it, how do you assess large compensation when it applies to, say, the leaders of a healthy, respected banking giant that will bring in billions of dollars in new deposits for pennies on the dollar, while helping to prop up the national financial system?
rmptr
I just discovered further evidence of financial problems...
Yes, I like cookies!
(10-08) 17:21 PDT -- Mother's Cookies, an Oakland institution for 92 years, has been shuttered, its owner seeking bankruptcy protection for the company.
The ending was abrupt: Workers for the company, which shifted its baking and distribution operations to plants in Ohio and Canada in 2006, told workers Friday that operations would cease and cookies would no longer be made as of Monday.
The company cited rising prices for raw materials and fuel, and on Monday filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the District of Delaware.
Mervyns: Time to move on
Mervyns just took another shot, this time closer to the head, with major job cuts at its Hayward corporate headquarters. Beyond the word "significant," Mervyns spokespeople wouldn't comment, although sources put the number between 200-300 out of an h/q staff of 1,000.
This after closing 26 of its 176 stores, including four in the Bay Area, as it struggles to get out of bankruptcy. Chief executive John Goodman said the cuts "will put Mervyn's in a better position to return to profitability."
Wells Fargo execs: fair day's pay?
With all eyes on executive compensation, what do you make of these numbers?
Equilar, an executive compensation research firm based in Redwood Shores, gave us the following "career compensation" figures for Wells Fargo's chairman and former CEO Richard Kovacevich and former executive vice president, chief operating officer and current CEO John Stumpf.
Richard Kovacevich, 1998-2007: $73,980,824 in cash compensation (base salary, bonuses, other benefits and perks). In addition, Kovacevich made $189,883,327 in pre-tax profits from stock options.
John Stumpf, 2000-2007: $28,589,618 in cash compensation. Stumpf also exercised stock options, realizing $21,510,356 in pre-tax profits.
With so much attention to the obviously egregious pay packets for company chieftains who provably aren't worth it, how do you assess large compensation when it applies to, say, the leaders of a healthy, respected banking giant that will bring in billions of dollars in new deposits for pennies on the dollar, while helping to prop up the national financial system?
rmptr
