Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

RadioShack CEO to get $500,000 retention bonus * RadioShack, which announced plans Tuesday to shut 1,100 stores after a plunge in sales, agreed to pay retention bonuses to its top executives, saying their skills are critical to the company's comeback plan. Chief Executive Officer Joe Magnacca will get a $500,000 payment, while other executives will receive $187,500 to $275,000, the company, based in Fort Worth, Texas, said Wednesday in a filing. Magnacca also will be eligible for a bonus of as much as $600,000 next year if he meets performance targets. To receive the bonuses, the executives must stay at the company through March 1, 2015.

Arch Coal sells Hazard subsidiary * Arch Coal Inc. sold its Hazard mining subsidiary to Blackhawk Mining for $26.3 million, the Creve Coeur-based company said Wednesday. The sale includes four active surface mines in Kentucky East-Mac & Nellie, Rowdy Gap, Bearville and Thunder Ridge as well as the Teton preparation plant and Kentucky River Loading facility. As part of the sale, Arch Coal could receive up to $35 million in royalty payments over the next five years from coal reserves at Hazard, the company said. "We are continuing to streamline our mining portfolio and monetize assets that are not essential to our future growth plans," John Eaves, president and CEO, said in a statement. Blackhawk Mining, based in Kentucky, owns and operates four underground and five surface mines, and two processing and loading facilities.

Reliv reports higher profits, sales * Reliv International Inc., a Chesterfield-based maker of nutritional supplements, reported a small increase in fourth-quarter profits on higher European and U.S. sales. Net income was $503,000, or 4 cents a share, up from $437,000, or 3 cents, in the year-earlier period. Net sales rose 2.8 percent to $17.4 million.

Missouri jobless rate unchanged * Missouri payrolls grew in January while the state's unemployment remained unchanged at 6 percent. …

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.