Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Article excerpt

Huizenga Receives $8.63 Million In Stock Options

Republic Industries Inc. Chairman H. Wayne Huizenga didn't get a dime in salary last year. But, the billionaire received stock options now worth $8.63 million it was reported on Monday.

Republic's Steven Berrard, president and co-chief executive officer of the company, received stock options valued at $10.6 million as well as a nominal annual salary of $5,000. The auto retailer and provider of waste collection services disclosed its 1996 executive compensation Monday in a preliminary proxy statement. The emphasis on stock rather than cash reflects Fort Lauderdale, Florida-based Republic's belief that linking officers' pay to stock will align their interests with shareholders and provide an incentive for long-term performance. That strategy has paid off. Huizenga had about $65.3 million of stock options as of Dec. 31 that he hasn't exercised. Republic's stock has more than tripled since it named Huizenga chief executive in August 1995. Bloomberg Earthgrains Plans Stock Repurchase The Earthgrains Co. said it may repurchase on the open market up to 500,000 common shares, or about 5 percent of its outstanding shares. The repurchase program is dependent on a ruling from the Internal Revenue Serv ice that the buyback will not affect Earthgrains' tax-free spinoff from Anheuser-Busch Cos. Inc. Barry H. Beracha, chairman and chief executive of Earthgrains, said the company's priorities for cash continue to be reinvesting in the business and growing through acquisition, but now it has the option of buying back shares to enhance shareholder value. Post-Dispatch Liggett Sounds Fiscal Warning Tobacco maker Liggett Group Inc. waved a warning flag Monday in New York when it said in a regulatory document that it may have problems meeting some future financial obligations. Liggett said that based on its $18. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.