GOOD DAY FOR: Stephen Schwarzman, after the Blackstone Group CEO’s $702 million in compensation last year made him 2008’s best-paid U.S. executive, according to the Corporate Library. Schwarzman’s $2.3 million salary was augmented by the vesting of a quarter of the $4.7 billion in equity he received upon taking Blackstone public in 2007, adding almost $699.8 million to his take-home last year. (Bloomberg)
BAD DAY FOR: Southwest Airlines, after rival carrier Republic Airways beat it, despite heavy odds favoring Southwest, in an auction to buy bankrupt Frontier Airlines. Republic’s $108.75 million purchase price won out over Southwest’s $170 million bid due largely to unresolved labor issues between Southwest and Frontier pilots. (Reuters)
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Are pesticides making florists sick?Under the Radar Shop-bought bouquets hide a cocktail of chemicals
-
Will Trump’s 10% credit card rate limit actually help consumers?Today's Big Question Banks say they would pull back on credit
-
3 smart financial habits to incorporate in 2026the explainer Make your money work for you, instead of the other way around
