- Beleaguered Kmart announced late last week that it is paying its CEO Julian Day a $1 million bonus for his work in 2003 – in addition to his base salary of $1 million, and new stock options to buy 1,038,507 common shares at an exercise price of $10 a share, and an option to purchase 519,253 shares at an exercise price of $20 a share.
Kmart last week were trading in the neighborhood of $45 a share. According to reports, Day was the only employee of Kmart to be granted stock options in fiscal 2003.
- A Good Friday service that was sponsored by the Monterey Bay Central Labor Council in Capitola, Ca., actually was a labor rally, according to charges leveled by Safeway. While the union contract allows employees to take time off with pay to attend Good Friday services, Safeway said this particular event was “bogus.”
- Published reports say that Ahold USA has received interest from “significant players” in the Bi-Lo and Brunos divisions that it has announced are for sale.
The company’s goal is to shed the divisions by the end of the year.