The former top five Wall Street firms—Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers, and Bear Stearns—paid their CEOs a combined $3.1 billion between 2003 and 2007, when the banks were buying up the assets that led three of them to implode.
At least 62 CEOs of American corporations have employment contracts that call for them to take pay cuts in hard times or give up golden parachutes if they resign. Compensation experts expect the trend to grow.
The Wall Street Journal
Coca-Cola is the world’s most valuable brand, according to branding consultant Interbrand. Basing its rankings on sales, global reach, and strength of management, Interbrand says the Coca-Cola brand is worth $66.6 billion. IBM and Microsoft rank second and third.
The current market mayhem has even hit Google, whose share price this week sank below $400 for the first time in two years. It peaked near $750 last November.
U.S. scooter sales rose 66 percent in the first half of the year, in step with gas prices, as car sales slumped and motorcycle sales were flat. Sales of Piaggio’s scooters, including Vespas, more than doubled each month this summer. Americans used to buy scooters for weekend fun, says Piaggio’s Paolo Timoni, but now it’s “an alternative transportation vehicle.”