Tiffany CEO’s 2010 pay package upped to $7.1 million
New York City — Tiffany & Co. CEO Michael Kowalski received a pay package worth nearly $7.1 million for 2010, a 13% increase over 2009, according to a report by the Associated Press.
A Securities and Exchange Commission filing on Friday showed that Michael J. Kowalski, 59, received a base salary of $958,957 and a performance-based bonus of nearly $1.6 million.
The bulk of his award came in the form of stock and option grants worth $4.4 million when they were granted.
Kowalski, who joined Tiffany in 1983, became CEO in 1999 and added the title of chairman in 2003, received other compensation worth $167,124, including $147,072 for a life insurance premium.
In 2009, Kowalski’s total pay package was worth about $6.3 million.
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Judge allows gay rights group to protest outside Target
New York City — A judge ruled Thursday that a San Diego pro-gay marriage group can continue canvassing outside of Target stores in California, the Associated Press reported. However, protestors must stay 30 ft. away from store entrances and canvass at just one entrance at a time.
The retailer had sought an injunction barring the activists from every outlet in the state, alleging they harass customers by cornering them near store entrances to discuss gay marriage, solicit donations and collect signatures on petitions.
Superior Court Judge Jeffrey Barton said some Target stores may fall under California’s law that considers shopping centers to be public forums. Also, canvassing over the last year occurred mainly without incident and Target failed to demonstrate that customers were being harassed, he said.
"Target has not met its burden to show that its blanket policy to ban all solicitors at all stores in California is proper," he wrote.
Target said at least eight of its stores in the San Diego area have received more than a dozen complaints daily since canvassers started working the locations in October 2010. The activists have refused to leave when asked politely and shown the company’s policy prohibiting "expressive activity" on its property, Target said.
Target, however, didn’t present testimony from customers who the company said had complained. An attorney for the chain said he didn’t think it was necessary since the complaints weren’t the central issue. The case was about Target’s right to enforce its rules on its land.
Target Corp. said in a statement Thursday that the legal action was "to provide a distraction-free shopping environment for our guests."
"Target’s long-standing policy is that we do not permit solicitation or petitioning at our stores regardless of the cause or issue being represented," the company said.
Harris Poll ranks Target as Value Retail Brand of the Year
New York City — A poll released Thursday by Harris Interactive named Target Corp. as its Value Retail Brand of the Year.
According to the 2011 Harris Poll EquiTrend Study, Target has the strongest consumer brand equity among retail brands. Overall, awards are given in each of 46 different categories.
This is the second consecutive year Target has led the way in the Value Retail category, with the gap between runner-up Wal-Mart increasing.
“In difficult economic times, consumers look for value,” said Jeni Lee Chapman, executive VP of brand and communications consulting at Harris Interactive. “Target is seen as a retailer with strong brand equity especially when compared to its competition. As consumers consolidate where they choose to spend their paychecks, those retailers with the highest brand equity are going to obtain greater share of that spending.”
In the cosmetics category, Sephora and Rimmel ranked second and third.
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