Word: contracts
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Dates: during 2000-2009
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Lingle's two-year contract with the teachers union and its 13,000 members amounts to a 7.9% pay cut. The bulk of the union's teachers will have 17 furlough days a year, giving Hawaii the shortest school year in the nation. "It's completely Draconian," says Vernadette Gonzalez, whose 5-year-old daughter, Inez Anderson, is a kindergartner at Noelani. "People are shocked when they hear that this was allowed, or even considered as a sane solution to the budget crisis." Gonzalez fears that students will not be able to make up for the lost school time, noting...
...dance record, Soupy Sales Sez Do the Mouse, whose song "The Mouse" ranks in the novelty-song category up or down there with John Zacherle's "Dinner with Drac" and Steve Martin's "King Tut." That got him a contract as a Motown recording artist. Didn't last long. (See TIME's 1965 article "The Simple Simon Pieman...
Each of these youngsters was given a TV show - the so-called zitcom - followed usually by a recording contract with Disney-owned Hollywood Records, songs in heavy rotation on Radio Disney and on Disney-movie sound tracks, a concert tour with Disney-owned Buena Vista Concerts and tie-in merchandise throughout the Disney stores. Miley & Co. are like modern Mouseketeers, but instead of M-I-C-K-E-Y, they spell...
...early October, Citigroup sold its commodities-trading division Phibro to energy company Occidental Petroleum. Citi was motivated to dispose of the unit because of pressure from regulators to curtail the pay of Phibro's top trader Andrew Hall, who made $100 million last year, and reportedly has a contract that would award him roughly the same amount in 2009. Oxy declined to comment on Hall's compensation. But the energy giant says Hall will remain with the unit at Oxy. Hall had threatened to leave Citi if his pay was cut, which means Oxy is probably honoring his contract. Says...
...took its sleek, fashionable $400 Razr cell phone and flooded the market with it at a lower price. "It destroyed the Razr brand," says the author. "Consumers who once considered the Razr the high-fidelity phone now saw it as the cheap phone you get when signing a wireless contract." One consequence: Motorola's CEO left under a cloud...