Los Angeles (February 17) – Seven-Time, Five-Division World Champion Floyd “Money” Mayweather and reigning WBA Super Welterweight World Champion Miguel “Junito” Cotto will officially announce their May 5 mega-fight with a press tour making stops in San Juan, New York City and Los Angeles beginning Monday, February 27.
The tour will reflect the magnitude of this highly competitive match-up between two pound-for-pound greats with one-of-a-kind press conferences in all three cities. Mark your calendars as you won’t want to miss it when Mayweather and Cotto come to town!
MAYWEATHER VS. COTTO: TOUR DATES AND CITIES
MONDAY, FEBRUARY 27 SAN JUAN, PUERTO RICO
2:00 p.m. AST Coliseo de Puerto Rico Jose Miguel Agrelot
TUESDAY, FEBRUARY 28 NEW YORK, NEW YORK
1:00 p.m. ET Famed Apollo Theater
253 West 125th Street
New York, NY 10027
THURSDAY, MARCH 1 LOS ANGELES, CALIFORNIA
1:00 p.m. PT Grauman’s Chinese Theatre
6925 Hollywood Blvd.
Hollywood, CA 90028
**ALL EVENTS WILL BE OPEN TO THE PUBLIC**
***Additional details will be announced shortly***
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Mayweather vs. Cotto, a 12-round fight for Cotto’s WBA Super Welterweight World title, is presented by Mayweather Promotions, Golden Boy Promotions and Miguel Cotto Promotions. The 12-round WBA Super Welterweight World Championship bout will be produced and distributed live by HBO Pay-Per-View®. More information on Mayweather vs. Cotto, including ticket on sale date and prices will be announced shortly.
When Profits Drop at Ford Motor Co., So Do Executives’ Rewards.(Originated from Detroit Free Press)
Knight Ridder/Tribune Business News April 10, 1996 | Brennan, Mike Apr. 10–Despite a healthy profit of $4.1 billion last year, Ford’s board of directors cut Ford Chairman Alex Trotman’s bonus in half and froze his salary in 1995.
Trotman wasn’t the only top Ford executive to take a financial hit because of lower corporate earnings, according to the automaker’s 1995 proxy statement to shareholders, released Tuesday.
Executive Vice President W. Wayne Booker, Ford Automotive President Edward Hagenlocker, Vice Chairman Louis Ross and Ford Financial Services Group President Kenneth Whipple also received little or no raises and smaller bonuses.
“We pay for performance,” said Ford spokesman Chris Vinyard. “And 1994 was a record year for Ford. While 1995 was the fourth-best year ever, compensation is tied to performance both long-term and annually.” In 1995, Ford earned $4.1 billion, down 23 percent from the record $5.3 billion in 1994. website ford stock price today
Trotman also was awarded 350,000 stock options worth about $1.1 million as of Tuesday’s closing stock price.
Stock options are a form of executive compensation tied to stock prices. Executives can buy stock at prices typically below prevailing market values and pocket the difference.
In the United States, Ford’s automotive operations earned $1.8 billion, declining $1.2 billion compared with 1994. A solid first half of 1995 was followed by a disappointing second half, due in large part to the cost of retooling more factories than usual to build redesigned models such as the Ford Taurus midsize sedan and the F150 pickup.
The board also weighed product quality and customer satisfaction in deciding how much to pay its top executives, Vinyard said, but neither counted as much as the lower financial results. go to web site ford stock price today
Even so, Trotman earned $5,431,354 last year, about $2.5 million less than in 1994. Much of the change came from a cut in his bonus from $6 million in 1994 to $3 million.
Ford’s chairman actually pocketed about $3.1 million last year, and had the remaining $2.3 million deferred to future years. How much he earns in deferred income is tied to the long-term performance of Ford and the future of Ford’s stock price.
It’s another incentive for Trotman to pull the right strings so that Ford stock price and profit levels increase.
It’s also the same carrot Ford’s board gave to the other top executives and to the board itself. Each director has agreed to maintain ownership in stock equal to five times the sum of the outside director’s annual board and committee fees, roughly $60,000 a year.
Ford last year adopted guidelines for people at the vice-presidential level and above that establish target ranges from one times salary to five times for Trotman.
Trotman has extended the one-time earnings target to 30 other key executives below the vice-presidential level, tying the bulk of Ford’s senior executives compensation to company performance.
The board also decided that as of last January, $10,000 of each director’s annual fee will be paid in stock, not cash.
Both Chrysler Corp. and General Motors Corp. have made similar moves to either fully or partially compensate board members with stock instead of cash.
Story Filed By The FREE PRESS, DETROIT, MI —– FOR ONLINE SERVICES:
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