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CEOs got smaller raises. It would still take a typical worker two lifetimes to make their annual pay

Published Fri, 15 Nov 2024 08:26:20 GMT

After ballooning for years, CEO pay growth is finally slowing.The typical compensation package for chief executives who run S&P 500 companies rose just 0.9% last year, to a median of $14.8 million, according to data analyzed for The Associated Press by Equilar. That means half the CEOs in the survey made more and half made less. It was the smallest increase since 2015.Still, that’s unlikely to quell mounting criticism that CEO pay has become excessively high and the imbalance between company bosses and rank-and-file workers too wide. Discontent over that gap has helped fuel labor unrest, and even some institutional investors have pushed back against a few of the most eye-popping packages.The smaller increase came after CEO pay soared 17% in 2021, when boards rewarded top executives handsomely for steering their companies through the pandemic-induced recession.Many of the compensation packages were approved early in 2022 but even a small raise might seem lavish in retrospect agai...

Canadian Blood Services calling for donations with donor base lowest in a decade

Published Fri, 15 Nov 2024 08:26:20 GMT

Canadian Blood Services serves as a lifeline for patients in need, but the non-profit organization now needs saving of its own, currently having the lowest donor base in a decade.A campaign running throughout the months of May and June is looking to aggressively recruit donors across the country to maintain a stable base of donors.Andy Jr. Anyaele credits donors for saving his life, saying it’s a gesture that’s “truly priceless.”When he was just 19 years old, Anyaele, who has sickle cell disease, was hospitalized and in a coma for one week, after a doctor prescribed him an antibiotic he was allergic to.“That’s when my whole body shut down,” he tells CityNews. “I didn’t know anything, I’m in a coma and I’m being told everything after the fact when I start waking up. My parents let me know that I survived because of blood transfusions and donors.”Eight years later, the 27-year-old who lives in Markham continues to rely ...

Pay packages for female CEOs fell last year after big gains in 2021, ranks remain thin

Published Fri, 15 Nov 2024 08:26:20 GMT

NEW YORK (AP) — Last year was a mixed bag pay-wise for the women who run companies in the S&P 500 — compensation increased for more than half of them, but the median pay package fell 6%.Of the 343 CEOs in the compensation survey of S&P 500 companies done by the AP and Equilar, only 20 were women. Because they are a small group, changes in pay for only a few can easily skew the overall figures.The drop comes after a 26% jump in the value of pay packages for female CEOs in 2021, a year when compensation reflected a recovering economy and soaring stock prices and profits. Many chief executives were rewarded for steering their companies through the worst of the pandemic.Overall, female CEOs saw their performance bonuses fall 13% to $2.8 million last year and stock awards fall 4% to an average of $10 million. Their median total compensation fell 6% to $14.7 million. The median pay for male CEOs rose 1% to $14.8 million.“We still do not have enough women CEOs,” said Lorraine...

Mayoral hopefuls face off in debate over social, economic challenges facing Toronto

Published Fri, 15 Nov 2024 08:26:20 GMT

Six of the leading candidates to be Toronto’s next mayor will face off tonight in a debate over what organizers call the critical social and economic challenges facing the city.The two-hour livestreamed event co-hosted by Toronto Metropolitan University, the United Way and the Toronto Star is scheduled get started at 6:30 p.m.Organizers say former NDP parliamentarian Olivia Chow, city councillor Josh Matlow, ex-police chief Mark Saunders, former deputy mayor Ana Bail?o, councillor Brad Bradford and former Liberal provincial education minister Mitzie Hunter have committed to attend.Last week, candidates sparred over issues related to the arts, affordable housing and the economy in four debates held over 48 hours.The busy debate schedule is in contrast to last year’s election campaign, when incumbent and former mayor John Tory took part in just two debates.The byelection to replace Tory, who resigned in February after admitting to an affair with a staffer, is set for June ...

Military says Sudan has suspended its participation in talks with paramilitary rival

Published Fri, 15 Nov 2024 08:26:20 GMT

CAIRO (AP) — Sudan’s military has suspended its participation in talks with a paramilitary force it’s been battling for weeks for control of the northeastern African country, a military spokesman said Wednesday. The development was a blow to the United States and Saudi Arabia which have mediating between the two sides whose conflict has plunged Sudan into chaos. Brig. Nabil Abdalla, a spokesman for the Sudanese armed forces, told The Associated Press that the move is a protest to the Rapid Support Forces’ “repeated violations” of the humanitarian cease-fire, including their continued occupation of hospitals and other civilian infrastructure in the capital, Khartoum.Abdalla said the military wants to ensure that the truce’s terms “be fully implemented” before discussing further steps. He did not elaborate.There was no immediate comment from Saudi Arabia or the United States, which have been brokering talks between the warring sides. So far, there have been seven declared cease-...

How AP and Equilar calculated CEO pay

Published Fri, 15 Nov 2024 08:26:20 GMT

For its annual analysis of CEO pay, The Associated Press used data provided by Equilar, an executive data firm.Equilar examined regulatory filings detailing the pay packages of 343 executives. Equilar looked at companies in the S&P 500 index that filed proxy statements with federal regulators between Jan. 1 and April 30, 2023. To avoid the distortions caused by sign-on bonuses, the sample includes only CEOs in place for at least two years.To calculate CEO pay, Equilar adds salary, bonus, perks, stock awards, stock option awards and other pay components.Stock awards can either be time-based, which means CEOs have to wait a certain amount of time to get them, or performance-based, which means they have to meet certain goals before getting them. Stock options usually give the CEO the right to buy shares in the future at the price they’re trading at when the options are granted. All are meant to tie the CEO’s pay to the company’s performance.To determine what stock and option awards...

Global stocks sink before US Congress votes on deal to avoid debt default

Published Fri, 15 Nov 2024 08:26:20 GMT

BEIJING (AP) — Global stock markets sank Wednesday ahead of a vote by the U.S. Congress on a deal to avert a government debt default, while a downturn in Chinese factory activity deepened, adding to signs that the world’s economic activity is weakening.Markets in London, Shanghai, Paris and Tokyo retreated. Oil prices declined.Wall Street’s benchmark S&P 500 index edged up less than 0.1% on Tuesday as President Joe Biden and Speaker Kevin McCarthy of the House of Representatives tried to line up votes to raise the amount the government is allowed to borrow. Officials warn the Treasury will run out of money as soon as next week, which would roil the economy and financial markets.“Any upcoming obstacle to a smooth pass-through of the deal could still trigger some de-risking,” Yeap Jun Rong of IG said in a report.On Wednesday, an official Chinese survey of manufacturers found activity contracted in May on weak global and domestic consumer demand.In early trading, the FT...

CEOs got smaller raises. It would still take a typical worker two lifetimes to make their yearly pay

Published Fri, 15 Nov 2024 08:26:20 GMT

After ballooning for years, CEO pay growth is finally slowing.The typical compensation package for chief executives who run S&P 500 companies rose just 0.9% last year, to a median of $14.8 million, according to data analyzed for The Associated Press by Equilar. That means half the CEOs in the survey made more and half made less. It was the smallest increase since 2015.Still, that’s unlikely to quell mounting criticism that CEO pay has become excessively high and the imbalance between company bosses and rank-and-file workers too wide. Discontent over that gap has helped fuel labor unrest, and even some institutional investors have pushed back against a few of the most eye-popping packages.The smaller increase came after CEO pay soared 17% in 2021, when boards rewarded top executives handsomely for steering their companies through the pandemic-induced recession. Trump pledges to end birthright citizenship on first day in office Many of the compensation packages were ap...

Recipes: Three ways to make strawberries even tastier

Published Fri, 15 Nov 2024 08:26:20 GMT

Last winter was a terrible time to be a strawberry in California — and maybe an even worse time to be a strawberry farmer.At Harry’s Berries in Oxnard, California, the rain came down so hard it flattened acres of strawberry beds “like pancakes,” said operations manager Kristopher Gean, whose grandfather Harry Iwamoto started the farm more than 50 years ago. Each bed had to be dug up by hand, costing the farm more than $100,000 in labor.Even then, the berries that survived to make it to market were bloated, insipid and expensive. “Everyone on Instagram was complaining: ‘These berries don’t taste that good,’” Gean said. “And they were right.”From January to March, bad weather and bland berries were the rule for farmers across California, who grow about 85% of the commercial strawberries in the United States. And the devastated crops, with their low yields, astronomically drove up prices for any berries you could find.Things have finally turned around: California berries are back on th...

Lake George traffic stop ends in firearm arrest

Published Fri, 15 Nov 2024 08:26:20 GMT

LAKE GEORGE, N.Y. (NEWS10) -- A traffic stop in Lake George resulted in a firearm arrest, according to the Warren County Sheriff's Office. John Becker Jr. (41, Troy) faces multiple charges. Get the latest, news, weather, sports and community events delivered right to your inbox! On Saturday, May 20, around 9:37 p.m., patrols from the Warren County Sheriff's Office conducted a traffic stop on a 2012 Nissan after it allegedly committed unspecified traffic offenses. After being pulled over on State Route 9N in Lake George, Becker Jr. was identified as a passenger.Deputies say Becker Jr., a two-time convicted felon, had a loaded 40-caliber handgun. Due to his prior felony convictions, Becker Jr. is prohibited from possessing firearms. Troy man charged in connection to Hedley Building break-in Charges:Third-degree criminal possession of a weaponSecond-degree obstructing governmental administrationBecker Jr. was processed at Sheriff's Office Headquarters and was placed in police lock...