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By TIMES WIRES
Published July 27, 2006

Times catch up to an energy visionary

For decades, Amory Lovins was a lonely - and ignored -voice for a simple energy policy: It's better to save it than produce it. Now, when he speaks about alternative sources, people listen.

Executive pay to be more transparent

Companies will have to provide more details of executive pay and perks under the most substantial overhaul of benefit disclosure policy since 1992, adopted unanimously Wednesday by federal regulators. And amid a widening scandal over suspect timing of stock option grants to company officials, the Securities and Exchange Commission also is writing new rules on disclosure of the dating of options. The plan, takes effect Dec. 15 in time to affect 2006 annual reports. Most of the disclosures, in annual reports and other regulatory filings, also will have to be written in plain English.

Jabil to recognize millions in costs

St. Petersburg's Jabil Circuit Inc. on Wednesday said it expects to recognize about $200-million to $250-million in pretax restructuring and impairment costs during the fiscal fourth quarter of 2006 and over the course of fiscal years 2007 and 2008. A significant portion of these costs are expected to be recorded in Jabil's operating results for the quarter ending Aug. 31, the company said in a filing with the Securities and Exchange Commission. A significant portion of the restructuring costs are expected to be related to employee benefit and severance arrangements, said the company, which makes electronic components for cell phones and computers.

Judge: Government coerced KPMG staff

Federal prosecutors used excessive economic pressure to coerce two partners at the KPMG accounting firm into cooperating in an investigation of illegal tax shelters, a judge ruled Wednesday. U.S. District Judge Lewis A. Kaplan said he wouldn't allow statements made by the two men to be used at their upcoming trial. The decision was the judge's second targeting what he said were improper efforts by the government to force KPMG employees to cooperate in the probe, which led to charges against 18 people.

CORRECTIONS

- Bill Hood is retiring as chief executive officer of Special Data Processing. The company's name was spelled incorrectly in a Wednesday story.

- The end of a story Wednesday about the HCA buyout was accidentally shortened. Below is the paragraph that was lost: But he enthusiastically touted the buyout. "Every major company has to reposition itself every 10 to 12 years," he said. "When we started the company back in 1968, there were six major companies. We're the last ones standing."

[Last modified July 27, 2006, 01:08:47]