The 25 best-paid hedge fund managers took home a combined $12.94 billion in income last year, according to The New York Times, which makes the best-paid executives at big Louisville employers look like amateurs.
Of 11 companies tracked by Boulevard, the exec with the biggest paycheck last year was GE CEO Jeffrey Immelt, who got $33 million, including stock awards, the change in his pension account value, and other benefits.
Median chief executive pay at nearly 300 large publicly traded companies slipped 3.8% to $10.8 million last year from $11.2 million in 2014, according to a new report in The Wall Street Journal. Still, among big Louisville employers, nine c-suite executives earned more last year, according to Boulevard‘s latest executive pay figures.
Latest news, with a special focus on big Louisville employers; updated 5:39 p.m.
FORD Executive Vice President Joseph Hinrichs sold 60,000 shares of stock at $13.32 a share yesterday for a total near $800,000, the company said in a Securities and Exchange Commission filing this afternoon. Ford paid Hinrichs $6.4 million last year, including changes to his pension value. Boulevard’s executive pay database.
KINDRED said it plans to make presentations at two upcoming investor conferences later this month (press release). Also, the company held a first-quarter earnings conference call with analysts at 9 a.m. today. How to listen to the replay; the company released results yesterday (press release). And the board of directors declared a regular quarterly cash dividend of 12 cents a share (press release). Shares closed at $13.44 down 7.3% this afternoon.
HUMANA just filed its first-quarter 10-Q with the Securities and Exchange Commission. Also, the insurer may exit some states’ insurance exchanges next year, the company said during its first-quarter report yesterday (Business First, Insider Louisville and CJ). In the pre-market, shares were basically flat at $175.70.
TEXAS ROADHOUSE has just filed its 10-Q, too.
UPS shareholders have re-elected the full slate of 11 board members (press release).
YUM has filed initial documents with the Securities and Exchange Commission on its planned China division spinoff (Business First).
PAPA JOHN’S: Here’s a transcript of yesterday’s first-quarter conference call with analysts.
In other news, the Powerball jackpot is now a staggering $415 million, the ninth-largest potential payout in U.S. history, after no winning numbers were drawn last night; next drawing is Saturday (WAVE). Last night’s numbers: 30 47 57 66 69 3. How to play. Also, Norton Healthcare is adding four operating rooms to the Women’s and Kosair Children’s Hospital in the Dupont area as part of a 7,000 square-foot addition (Business First).
Led by CEO Paul Varga, Brown-Forman executives yesterday disclosed a slew of stock transactions in a series of notices with the Securities and Exchange Commission. Varga sold 11,566 Class A shares at $103.71 each for a total $1.2 million in what appears to be tax-driven trade, according to this SEC Form 4. All SEC filings. Class A shares recently traded for $102.13, down 1%.
Related: Varga’s annual compensation totaled $11 million in fiscal 2015, the most recent year available; Boulevard‘s executive pay database.
Admission to the KMAC art and craft museum will be free for one year after its June 4 reopening, underwritten by a gift from Delta Dental of Kentucky, the benefits company said today, according to The Courier-Journal. The dental benefits giant didn’t disclose the amount, however.
The Louisville company’s budget was about $166 million in 2014, according to its most recent IRS tax return on GuideStar. It donated a combined $40,000 to four groups that year: Family & Children’s Place of Louisville ($5,000); Kentucky Dental Society of Lexington ($5,000), American Heart Association of Des Moines ($20,000), and the Kentucky State Police in Frankfort ($10,000).
CEO Clifford Maesaka was paid $524,546 in 2014; annual pay for all officers and directors starts on Page 7 of the IRS Form 990 return.
Latest news, with a special focus on big Louisville employers; updated 4:50 p.m.
AMAZON just reported a huge first quarter, and its stock was recently soaring 12% in after-hours trading, to $675 a share (MarketWatch).
CHURCHILL DOWNS just released first-quarter results showing what appears to be a big miss on earnings per share: 16 cents vs. a Wall Street consensus forecast of 48 cents. But the $288 million in revenue was ahead of the consensus $275 million (forecasts). Here’s the press release. The company’s stock was unchanged in late trading.
FORD this morning delivered record first-quarter results amid strong truck sales, with net income more than doubling and operating margins in the core North American unit rivaling those of high-end luxury brands (MarketWatch); shares surged 1.6% to $13.88 in pre-market trading. Separately, Ford supplier Louisville Seating is planning a $13 million expansion in Shepherdsville that could add 170 jobs (Courier-Journal).
UPS beat first-quarter profit forecasts, but whiffed on revenue. (MarketWatch); premarket, shares rose less than 1%, to $106.90. HUMANA: Aetna reported a nearly 4% decline in first-quarter operating earnings as the health insurer lost members in its commercial business; Aetna has agreed to buy Humana for $37 billion, subject to a tough regulatory review (Reuters); Aetna shares were flat at $111.52, premarket.
YUM‘s newly appointed CFO will get additional stock rights worth $500,000, which and will vest in four equal annual installments starting May 20, 2017 (SEC filing). David Gibbs was promoted to the job from CEO of Pizza Hut yesterday. Yum shares closed yesterday at $81.53, essentially flat.
GE: Qingdao-Haier Co. is making written offers to GE employees as the China-based company nears completion of its $5.4 billion purchase of the appliance maker (Business First).
In other news, AT&T is laying ultra-fast Internet fiber lines throughout Norton Commons, the 600-acre Northeast Louisville residential development. Work is expected to be finished by the end of the year, and comes as Google Fiber advances plans to offer the service city-wide (WFPL). And U.S. stock markets were headed for an ugly day; Dow Jones Industrial Average futures were plunging 140 points after the Bank of Japan’s surprise decision to keep monetary policy steady (CNBC).
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