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Digest
Talk of the day
By TIMES WIRES
Published August 8, 2006
Stewart to pay $195,000 in SEC settlement Homemaking diva Martha Stewart will pay about $195,000 and cannot serve as the director of a public company for five years under a settlement announced Monday on civil insider trading charges with the Securities and Exchange Commission. Under the settlement, the founder of Martha Stewart Living Omnimedia Inc., a multimedia empire dedicated to stylish living, agreed to pay about $195,000 relating to losses the government said she avoided on her sale of ImClone Systems Inc. stock in December 2001. In addition to accepting a five-year ban on being a company director, Stewart agreed to limits for five years on her service as an officer or employee of a public company. Wal-Mart says it'll boost pay to stay competitive Wal-Mart Stores Inc. is raising starting pay at about a third of its nearly 4,000 U.S. stores by an average 6 percent and introducing wage caps for the first time on each type of job in all stores, the company said Monday. The nation's largest private employer said the changes would help it remain competitive with other retailers and meet a need for workers and managers as it continues to expand. Wal-Mart has more than 1.3-million U.S. employees. The retailer's pay and benefits have been under fire from union-backed critics, who call them skimpy. Other chatter BONO BUYS INTO FORBES: Forbes magazine said Monday it has sold a minority stake to a private equity group that includes the singer Bono of U2. The firm, called Elevation Partners, is buying a stake in a new company called Forbes Media LLC that will include the magazine and the Web site Forbes.com and other media properties. BUSCH GARDENS OFFERS STORM REFUNDS: Busch Gardens and SeaWorld Orlando said they will give full refunds to tourists whose vacations are disrupted by tropical storms. If a named tropical storm or hurricane approaches Tampa, Orlando or a guest's hometown, the park will reschedule or refund any tickets or vacation package booked through SeaWorld or Busch Gardens Vacations. Information from the Associated Press was used in this report.
[Last modified August 8, 2006, 00:50:12]
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