FINANCE

Pressler’s Bonus Down, Options Up

BY CSA STAFF

San Francisco, Paul Pressler, CEO of Gap Inc., will get 1.5 million stock options as part of a compensation package, but his cash bonus was cut 64% from last year, from $3.1 million to $1.1 million. According to company filings, Pressler’s 2004 salary was the same $1.5 million.

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FTC Reportedly to Block Blockbuster Bid for Hollywood

BY CSA STAFF

Washington, D.C., The U.S. Federal Trade Commission’s (FTC) competition bureau plans to recommend that the agency block a hostile bid by Blockbuster to buy Hollywood Entertainment, according to published reports.

The FTC bureau is expected to make a formal recommendation to the agency’s five commissioners within the next several days on the Blockbuster bid for Hollywood. The FTC has agreed to make a decision by March 21 on whether it will oppose the combination of the two companies.

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Neiman Marcus Considers Sale of Company

BY CSA STAFF

Dallas, The Neiman Marcus Group, Inc. today said it is considering selling the company as a strategic alternative to enhance shareholder value. The company added that it would not disclose details about its exploration of this or other strategic alternatives until the board has approved a transaction. The Group, which includes specialty retailers Neiman Marcus and Bergdorf Goodman, is retaining Goldman Sachs & Co. as the financial advisor in this endeavor.

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