Employment

  • August 10, 2006

    Court Seals Hearing On Exec Bonuses

    A bankruptcy judge has sealed the record for the hearing on bankrupt ladder maker Werner Co.’s motion to pay bonuses to top executives.

  • August 10, 2006

    Denver Workers Opt Out Of Qwest Settlement

    Unhappy with a $400 million settlement proposal, the Denver Employees Retirement Plan has filed a lawsuit against Qwest Communications International Inc. in hopes to recoup money it says Qwest swindled in a lengthy fraud scheme.

  • August 10, 2006

    Court OK’s Bonus For FLYi Employees

    A federal bankruptcy judge approved up to $1.4 million in employee bonuses Tuesday to entice FLYi Inc.’s workers to stay with the bankrupt airline while it liquidates.

  • August 10, 2006

    SEC Targets Endocare Execs

    The U.S. Securities and Exchange Commission sued two former Endocare Inc. executives Thursday for allegedly defrauding the company’s investors over a year-and-a-half span.

  • August 9, 2006

    American Airlines Sued Over Denied Medical Coverage

    American Airlines was sued on Monday by a retired couple alleging the company and its health insurance provider, UnitedHealthcare, were flighty about honoring their health plan and meeting ERISA requirements.

  • August 8, 2006

    Study Shows Rise In Director Compensation

    Heightened oversight and accountability in the corporate world has prompted a surge in executive compensation, according to a study released Tuesday by an independent executive compensation consulting firm.

  • August 8, 2006

    Flight Attendants, Pilots Condemn US Airways CEO

    As US Airways struggles to get back on its feet after a crippling bankruptcy, the airline’s chief executive officer has infuriated flight attendants and pilots by exercising options for 270,000 shares of company stock, netting himself upwards of $9 million.

  • August 9, 2006

    Auto Parts Company Slapped With ERISA Suits

    Employees of Lear Corp. have class action lawsuits against the automotive interior company and its board of directors, claiming they should have protected employees’ retirement savings plan from predictable losses in the shaky auto market.

  • August 8, 2006

    AIG's Insurance Fight Spawns Trade Secret Battle

    A testy battle over trade secrets and employee agreements is brewing between former corporate partners after a group of officers and employees at insurance giant American International Group Inc. were sued by insurance brokerage C.V. Starr & Co. Inc.

  • August 7, 2006

    Delta Bids To Shutter Pilots’ Pensions

    In an unsurprising move, Delta Air Lines has asked the bankruptcy court to terminate its pilots’ pension plans, maintaining that the massive legacy obligations it is facing could cripple the struggling airline.

  • August 8, 2006

    Dana Shareholders Warn Against Cutting Benefits

    A group of equity security holders for bankrupt Dana Corp. has cautioned that modifying employee retirement benefits may end up hurting the struggling auto parts supplier.

  • August 8, 2006

    IBM Pensions Not Discriminatory, Appeals Court Rules

    A U.S. Appeals Court panel overturned a lower court decision Monday that said International Business Machines Corp.’s pension plan discriminated against older workers.

  • August 7, 2006

    Pharma Exec To Pay $20M Over Illegal Bonus

    The curtain may have closed in the drama between Valeant Pharmaceuticals International and its controversial former CEO, after the drug company announced on Thursday that it had settled its lawsuit against Milan Panic for $20 million.

  • August 8, 2006

    Judge OKs Brokers' Overtime Case Against A.G. Edwards

    Giving the green light to an overtime pay case brought by three former A.G. Edwards & Sons Inc. brokers, a federal judge last week denied the financial powerhouse’s bid to toss the claims, ruling that there are enough genuine issues of fact for the case to move forward.

  • August 4, 2006

    Contentious Pension Bill Clears Another Hurdle

    Taking a page from the U.S. House of Representatives, the U.S. Senate has passed a sweeping overhaul of U.S. pension laws, shooting the bill straight to President Bush’s desk for approval.

  • August 3, 2006

    GEICO Accused Of Welding Its Way Into Auto Repair

    A class action lawsuit accuses insurance giant GEICO of illegally setting rates for auto body repair shops in California by tampering with the state-mandated surveys it conducts as an auto insurer.

  • August 1, 2006

    Delphi Shareholders Seek Financial Advisor

    Shareholders of bankrupt Delphi Corp. want to hire a financial advisor for $175,000 a month to assist with labor matters, the divesture of property and the evaluation of the company’s relationship with its biggest customer, General Motors Corp.

  • July 31, 2006

    Kaiser Wins Bid To Void Multiple Pension Plans

    When a Chapter 11 debtor seeks to void multiple pension plans at the same time under its reorganization test, a court can apply one test to all of the plans, according to a ruling filed last week in the U.S. District Court of Appeals for the Third Circuit.

  • July 28, 2006

    Ex-Suncoast Chief Liable For Kickback Scheme

    A former principal and a former trader at Suncoast Capital Group Ltd. have been found liable for violating securities laws in an alleged kickback scheme between the defendants and an employee of New York Life Insurance Company Inc.

  • July 24, 2006

    Avis Wins Copyright Suit Against Ex-Employee

    A former employee of rental car company Avis Group Holdings Inc. backdated a spreadsheet software program and then wrongly sued the company for copyright infringement, a federal judge ruled Thursday.