Executive Compensation
The Carried Interest Loophole Survives Another Political Battle
WASHINGTON — Once again, carried interest carried the day. The last-minute removal by Senate Democrats of a provision in the climate and tax legislation that would narrow what is often referred to as the “carried interest loophole” represents the latest win for the private equity and hedge fund industries. For years, those businesses have successfully […]
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Amtrak Rewarded Executives With Six-Figure Bonuses as Rail Service Struggled
John Samuelsen, the president of the Transport Workers Union, whose members include nearly 1,500 service workers, mechanics and inspectors at Amtrak, said he was disgusted by the payouts. “They gave themselves nice fat bonuses off the backs of workers that were exposed to harm’s way,” he said. “It just underscores the reason why there should […]
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Crypto Crash Widens Divide Between Rich and Amateur Traders
ENGLEWOOD, Colo. — The cryptocurrency market was in ruins. But Tyler and Cameron Winklevoss were jamming. The billionaire twins, best known for their supporting role in the creation of Facebook, twirled and shimmied across the stage with their new cover band, Mars Junction, at a concert venue outside Denver last week, the latest stop on […]
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How Elon Musk and Tesla Helped Make C.E.O Pay Even Richer
While those compensation totals are taken from the company’s financial filings, they are often estimates driven by the companies’ attempts to value the stock their chief executives might receive. As a result, the executives may earn less than those totals, especially if the bear market persists and their companies’ stock prices remain depressed, but they […]
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How Jack Welch’s Reign at G.E. Gave Us Elon Musk’s Twitter Feed
When Jack Welch died on March 1, 2020, tributes poured in for the longtime chief executive of General Electric, whom many revered as the greatest chief executive of all time. David Zaslav, the C.E.O. of Warner Bros. Discovery and a Welch disciple, remembered him as an almost godlike figure. “Jack set the path. He saw […]
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1MDB Trial Set to Begin for Ex-Goldman Banker Roger Ng
The global scandal over the looting of a big Malaysian infrastructure fund nearly a decade ago — a crime that tarnished the reputation of one of Wall Street’s premier banks — is about to play out once again in a federal courthouse in Brooklyn. The criminal money laundering and bribery trial of Roger Ng, a […]
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SoftBank’s Woes Are Mounting
For the past decade, SoftBank and its founder, Masayoshi Son, grabbed headlines mainly for the Japanese conglomerate’s eye-popping investments, becoming a fixture in the American technology scene by spending freely on start-ups and fundamentally reshaping how such companies had been funded. There was the world’s largest tech investment fund. The billions of dollars pumped into […]
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Wall Street Fights to Keep Talent, but Money Isn’t Always Enough
It didn’t matter that Citigroup paid Amy Wu Stratton $450,000 in 2021 — her most lucrative year ever — to work with some of its biggest private equity clients. It didn’t even matter that she was on track for a promotion that could double her pay. After almost 16 years in banking, she was ready […]
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The New Get-Rich-Faster Job in Silicon Valley: Crypto Start-Ups
OAKLAND, Calif. — When Sandy Carter left her job as a vice president of Amazon’s cloud computing unit this month, she announced in a LinkedIn post that she was joining a crypto technology company. She included a link for open positions at the start-up. Within two days, she said, more than 350 people — many […]
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