inicio mail me! sindicaci;ón
« Criminals taken to the cleaners

CASH seized from criminals is being used to help clean up the streets of the Capital after being used to buy a 125,000 machine that removes chewing gum from the pavements. The machine has a range of cleaning tools, including a steam cleaner, high-pressure, hot water jets, a paint sprayer for covering graffiti and electrical power points for other tools. The van is touring the city cleaning up dirty bus shelters and litter bins, removing chewing gum, graffiti and flyposters, and spraying weeds....

Sirius gives Howard Stern $83 million bonus

social poster

January 31, 2007 at 9:51 pm · Filed under macroeconomy

NEW YORK - Sirius Satellite Radio said on Tuesday it paid radio shock jock Howard Stern a stock bonus valued at nearly $83 million after its subscriber numbers exceeded early estimates set in their 2004 contract.

Sirius said it exceeded “pre-Howard Stern subscriber estimates” in 2006 by over 2 million subscribers and as a result delivered to Stern’s affiliates 22.1 million in company shares. Sirius shares closed at $3.76 on Tuesday.

In 2004, the two sides had based their estimate of 2006 subscribers on the average analysts’ forecast that the company would reach 3.5 million.

Sirius reported last week that it ended 2006 with more than 6 million subscribers, at the middle of a forecast range made in December.

“The decision to bring Howard Stern to Sirius required a very significant commitment and we are very pleased that our investment has dramatically paid off,” Sirius Chief Executive Mel Karmazin said in a statement.

Sirius said its agreement with Stern offers additional stock-based bonuses if it exceeds an ever-higher set of subscriber targets. The amount of excess growth needed to trigger a bonus increases over time and is substantially higher than 2 million, the company said.

Sirius said the bonus to Stern would not increase its diluted share count and that expenses related to the payment have been reflected in operating results throughout 2006.Copyright 2006 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters.(c) Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

Altria to Spin Off Rest of Kraft »

Altria to Spin Off Rest of Kraft Altria Group Plans to Spin Off Rest of Kraft Foods to Shareholders By VINNEE TONG The Associated Press NEW YORK - Now that Altria is poised to jettison its Kraft Foods subsidiary, investors expect the payoff will be a higher share price as the company transforms into almost purely a tobacco company. Altria Group Inc., whose tobacco operations make the top-selling Marlboro cigarette brand, plans to spin off its majority stake in Kraft Foods Inc. in March. That...

Comments are closed.