Business & Economy

'Epic battle' or plain nuts?

Business | Workers at the world's largest walnut processing plant reached a new five-year contract in March, ending a 13-year strike
by Dan Perkins
Posted 4/16/05, 12:00 am

The answer is a matter of perspective in Stockton, Calif., where workers at the world's largest walnut processing plant reached a new five-year contract in March, ending a strike that was far from ordinary.

When workers at Diamond of California first walked off the job, George Bush was president, but it wasn't George W. Bush, it was his father. That was Sept. 4, 1991.

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Breaking up

Business | Viacom's CEO wants to break his media company into two entities to increase profit margins
by Dan Perkins
Posted 4/02/05, 12:00 am

In a surprise March 16 announcement, Viacom CEO Sumner Redstone said he hopes to divide the company into two publicly held entities in order to increase stock values. That represents a dramatic shift in direction for Viacom since its purchase of CBS in 1999.

Mr. Redstone's plan calls for MTV, Paramount, and other cable channels to be part of one company, while CBS, outdoor advertising, and local TV and radio stations comprise another.

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Sharing the wealth

Business | Ford CEO receives $18 million bonus in lieu of an annual salary
by Dan Perkins
Posted 3/26/05, 12:00 am

Imagine heading up one of the nation's largest corporations, one with more than 300,000 employees, and not accepting a penny in salary for four years.

That's the case at Ford Motor Company where Bill Ford took over as chief executive in 2001 on the condition that his compensation be based on the performance of the company.

That plan paid off last week as the board of directors rewarded Mr. Ford with an $18 million bonus in stock grants and options after the company increased its revenues by more than $3 billion last year.

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