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Best Buy CEO’s pay package falls 51%
New York City -- The CEO of Best Buy received a pay package worth about $5 million in the most recent fiscal year, half what he got the year before, according to a document the company filed Friday with the Securities and Exchange Commission, the Associated Press said.
Brian Dunn, 50, received a base salary of $1 million and a performance-based bonus of $746,667, down 75% from his performance based bonus the year before. Dunn received option awards valued at $3.2 million when they were granted, down 48%.
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J.C. Penney CEO: High price of cotton is one of biggest challenges
New York City -- The high price of cotton is one of the biggest challenges that J.C. Penney Co. faces this year, chairman and CEO Mike Ullman said during a panel discussion at Southern Methodist University, the Dallas Business Journal reported.
Cotton prices in March hit their highest levels in decades after floods in Australia and Pakistan and freezes in China wiped out farmers' crops. That means consumers will see rising clothing prices for the first time in more than 20 years, Ullman said, who predicted increases of 5% to 20%.
I’m not much of a follower of astrology and the signs of the zodiac, but I do know that 2011 is the Year of the Rabbit on the Chinese calendar.