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Sterling Bancorp shareholders rise up to give CEO Jack Kopnisky's pay a thumbs-down

The pay is too darn high at Sterling Bancorp. So say investors who last week rejected the compensation package awarded to Chief Executive Jack Kopnisky, whose salary and cash bonus rose last year even as the pandemic took a nearly 50% bite out of earnings.

The Sterling shareholder… ....

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Restaurant Chains Slammed Over Resistance To Minimum Wage Hike For Tipped Workers

Restaurant Chains Slammed Over Resistance To Minimum Wage Hike For Tipped Workers
Patch
2 hrs ago
WASHINGTON As the nation’s largest trade group for restaurant owners on Tuesday held a virtual version of its annual gathering to lobby Congress, advocates for a $15-per-hour minimum wage took aim at the powerful restaurant chains that they say are blocking legislation on a higher wage for tipped workers.
During their own virtual event, lawmakers such as Wisconsin Democratic Rep. Mark Pocan and advocates for raising the minimum wage sought to contrast the National Restaurant Association’s opposition to legislation that would raise the federal minimum wage with comments from the chief financial officer of Denny’s, one of the association’s members, that gradual increases in the minimum wage haven’t been a problem. ....

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Macy's CEO Jeff Gennette saw his pay rise after the retailer posted a huge loss and cut large numbers of staff

Gennette’s pay got a lift thanks in a part to a $2.8 million cash bonus. The payout, described as “non-equity incentive plan compensation,” was awarded by the board in recognition of accomplishments last year, including a $945 million reduction in overhead. That was higher than management’s February 2020 forecast for a $500 million cut shortly before the Covid-19 pandemic prompted the retailer to reassess matters.
“We became highly disciplined on cost restructurings and rightsizing the organization,” Macy’s said in a regulatory filing that described its rationale for Gennette’s pay.
After restructuring and rightsizing, Macy’s workforce shrank last year by 40%, to 76,000 employees, according to its most recent annual report, and nearly 4,000 management positions were culled. Last year 40,000 retail workers in New York City lost their jobs, according to Moody’s data, or 11% of total. Nearly 40% of clothing-store jobs vanished. Neiman Marcus, Ann Taylor an ....

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Stocks, options, salary, benefits: Danbury CEO pockets nearly $225K a day over four years

Stocks, options, salary, benefits: Danbury CEO pockets nearly $225K a day over four years
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