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Macy's Lundgren pay package down 8%
New York City -- Macy's CEO Terry Lundgren’s compensation package dipped 8% in 2010 to nearly $11.8 million, according to an analysis by The Associated Press.
Lundgren received a salary of $1.5 million in 2010, the same as the year before. The stock awards he received were valued at $3.6 million when they were granted, about a 50% rise over what he received the year before, according to a Securities and Exchange Commission filing.
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Kohl’s completes credit-card portfolio transfer to Capital One
Menomonee Falls, Wis. -- Kohl’s Department Stores said Tuesday it has completed the transfer of its private-label credit-card portfolio to Capital One Financial Corp., effective April 1.
Capital One has acquired the more than 20 million existing Kohl’s Charge accounts and through the seven-year agreement will offer private-label credit cards to new and existing Kohl’s customers. According to the department store retailer, the credit-card business accounted for more than 50% of Kohl’s sales in 2010.