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Financial/Banking

  • Supervalu names new legal chief

    MINNEAPOLIS — Supervalu chief Sam Duncan continues to finalize his leadership team by naming Karla Robertson as EVP legal.

  • Survey: More consumers plan to use tax refund to shop

    Los Angeles -- Survey results released Wednesday by PriceGrabber found that 54% of consumers expect to receive a tax refund this year. And, the majority plans to use the money for purchases.

    According to PriceGrabber’s poll of 5,655 U.S. online shopping consumers, 24% anticipate a bigger refund than last year and 26% expect about the same amount. Thirty-two percent anticipate receiving less compared to 2012, and 18% aren't sure how much money they will receive.

  • Consumers planning to spend tax refund

    LOS ANGELES — The majority of Americans are planning to spend their tax refund. 

     According to PriceGrabber’s poll of 5,655 U.S. online shopping consumers, 24% anticipate a bigger refund than last year and 26% expect about the same amount. Thirty-two percent anticipate receiving less compared to 2012, and 18% aren't sure how much money they will receive.

  • Former Johnson & Johnson CEO to serve on CVS board

    WOONSOCKET, R.I. — CVS Caremark has elected former Johnson & Johnson CEO William Weldon to serve on its board of directors, according to a filing with the Securities and Exchange Commission.

    Weldon is the former chairman of the board and CEO of Johnson & Johnson, having served in those positions from 2002 until his retirement as CEO in April 2012 and his retirement from the board in December 2012. Weldon previously served in a variety of senior executive positions during his 41-year career with J&J.

  • American Greetings to go private

    CLEVELAND — American Greetings announced that it has agreed to be taken private by a group led by some of its top executives for about $602 million.

    The executive group was formed by the Weiss family — including chairman Morry Weiss; CEO Zev Weiss; director, president and COO Jeffrey Weiss and others — and will buy the shares of the company they don't already own for $18.20 a piece in cash. This amounts to a 13% premium to American Greetings' closing price of $16.10 last Thursday.

  • SEC: Companies can use social media to put out information

    New York -- The Securities and Exchange Commission on Tuesday said that companies can social media platforms such as Twitter and Facebook to make significant announcements as long as they alert investors about which sites they plan to use for the disclosures.

  • Sears former CEO D’Ambrosio saw pay shrink almost 90% in 2012

    Hoffman Estates, Ill. -- An SEC filing on Thursday revealed that Sears Holdings Corp. former CEO Louis D’Ambrosio, who stepped down in February citing family health issues, saw his total compensation package shrink nearly 90% from the prior year.

    According to the proxy statement filed with the Securities and Exchange Commission, Sears said D’Ambrosio's salary rose to $1 million in 2012 from $930,769 in 2011. However, the value of his perks, such as corporate housing and travel, shrank to $278,741 from $852,037 in 2011.
     

  • CVS Caremark chief’s compensation leapt 44% last year

    New York -- An SEC filing on Friday revealed that the total compensation for CVS Caremark Corp. CEO Larry Merlo jumped 44% last year to $20.3 million.

    Merlo’s base salary rose slightly but the major increases came from stock and option awards and nonequity incentive-plan compensation.

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