Archive for January 29th, 2010
Time Warner Gives Jeff Bewkes A Raise, Thanks Him For Getting Rid Of AOL (TWX)
Time Warner Inc’s board gave chairman and chief executive Jeff Bewkes a quarter of a million dollar raise for 2010, according to an SEC filing.
The compensation committee raised his annual base salary from $1.75 million to $2.0 million, the salary he was expected to get in his contract. He will also get a $10 million discretionary cash bonus, up from $8.5 million and an increase in the target value of his annual long-term incentive compensation from $8.5 million to $10.0 million.
According to the filing:
The increase in Mr. Bewkes’ base salary was also consistent with the terms of Mr. Bewkes’ employment agreement with Time Warner, which provides that his salary would be increased to $2.0 million if the Board of Directors elected him to serve as Time Warner’s Chairman of the Board. Mr. Bewkes was elected to serve as Chairman of the Board effective January 1, 2009. At that time, due to Mr. Bewkes’ recognition of the economic downturn and its potential impact on the Company’s businesses, Mr. Bewkes declined the increase in his base salary and continued to receive a salary of $1.75 million during 2009.
He deserved the raise for developing a new strategy, including spinning off Time Warner Cable and AOL, focusing on expanding digital platforms and “leveraging Time Warner’s scale and brands to deliver compelling content, targeted international expansion and improving efficiency,” according to the committee. They also considered salaries at other media companies.
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See Also:
- Yahoo-Time Warner?
- 10 Years After AOL-Time Warner, Gerald Levin Says He’s Sorry
- How The AOL-Time Warner Merger Went So Wrong
Fashion Week Is Coming…And One Invite Was Basically Made For Lawyers
Mercedes-Benz Fashion Week (they beg you to call it by its full and proper name) kicks off February 11 in New York’s Bryant Park.
We’ll be covering it from the legal perspective — what you very fashionable female attorneys might want to invest in and which pieces sent down the runway should be handed citations by the copyright fashion police.
But first we wanted to point out an invite, from Ports 1961, that was practically made for the typical Type-A associate.
The invite is a mini-calendar that covers the week of Fashion Week, plus several blank pages for note-taking. The people at Ports have filled in, in pretty cursive no less, the time and date of their show and later-in-the-week party at their store. The calendar also includes a random selection of other New York events that week, like a Knicks game and a Jane Austen exhibit at The Morgan Library.
We of course realize that the invites are not directed toward lawyers. (Fashion houses see lawyers as inherently non-fashionable people, which, admittedly, is a pretty fair assessment overall). But the people who hand out free stuff at CLEs or send you the 9,000 Westlaw pen should take note.
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See Also:
- A Former Covington & Burling Lawyer Gets A Thank You At The Globes!
- Fashion First: Yale Law 1L Was A Male Model
- Not So Vogue: Annie Leibowitz Is Not Photographing Sonia Sotomayor
Eric Schmidt: ‘Tell Me The Difference Between A Large Phone And A Tablet’ (GOOG, AAPL)
Lore has it than when Google’s (GOOG) top Android developer first showed off the mobile operating system in 2007, CEO Eric Schmidt’s first question was, “So what do I do when Steve Jobs kicks me off Apple’s board?”
Well, that finally happened over Summer 2009, and relations between the two companies and the two men have devolved since.
Today, a reporter asked Eric what he thinks of Apple’s (AAPL) new iPad. His answer: “You might want to tell me the difference between a large phone and a tablet.”
Bonus: Apple iPad Photos
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See Also:
- Which iPad 3G Data Plan Should You Buy?
- Apple iPad First Hands On
- Apple’s iPad Is The Computer I’ve Always Wanted
How The Chevy Volt Works
For anyone who’s curious how plug-in hybrids (will) do what they do, GM has released a short video with a basic explanation of how the Volt and its fuel-augmented electric drive Voltec system work.
One of the most important details to pay attention to is the fact that the Volt’s grid-charged electric range depends on driving style, weather, AND terrain.
Check it out below.
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See Also:
- GM CEO: Price For Chevy Volt Will Be In The ‘Low 30s’… Except Not Really
- Installing A Charging Station For The Chevy Volt Is A Nightmare That Requires Professional Help
- The New Chevy Volt Plant Is Over 30% Taxpayer Subsidized
Mad TV Writers ‘Demand’ Residuals For Apple’s iPad
Shouldn’t Steve Jobs send Mad TV writers a check?
Mad TV writers Bruce McCoy and Tami Sagher came up with the iPad name in 2005. They wrote a sketch that mashed together a feminine hygiene commercial and an iPod spot.
They aren’t really expecting a payout from Apple. But they can joke about it.
“I found out from Bruce” about the name, Tami said on NPR’s All Things Considered this afternoon. “Actually, from his Twitter, because he tweeted a couple of minutes before it was announced that if it is called iPad, then he wants a residual check.”
As for the sketch: “This one we wrote rather quickly, which is usually the sign of a good sketch, when it just flows out of you, no pun intended. I’m sorry,” McCoy said.
Listen to the full interview at NPR.
Watch their original Mad TV sketch:
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