Pacific Northwest Despite a blockbuster year in which Amazon.com's profit more than doubled, Chief Executive Officer Jeff Bezos' compensation...
Despite a blockbuster year in which Amazon.com’s profit more than doubled, Chief Executive Officer Jeff Bezos’ compensation was unchanged from the previous year.
Bezos received a salary of $81,840 for 2007. In a Securities and Exchange Commission filing Friday, the company said its executive salaries are “designed to be significantly less than those paid by similarly situated companies.”
His compensation also included $1.2 million for personal security beyond what is provided at business facilities and for business travel — the same amount as in 2006. He was not granted a bonus or awarded any stock or stock options.
Amazon said Bezos, who founded the company and holds a 23.8 percent stake, has never received any stock-based compensation.
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In 2007, Amazon earned $476 million, or $1.12 a share, a 150 percent increase over the previous year. Annual sales grew 39 percent to $14.84 billion.
Stock’s weak price jeopardizes listing
Cell Therapeutics said Friday that it could be delisted from the Nasdaq Stock Market in October if its stock does not trade above $1 for at least 10 consecutive business days.
If the stock doesn’t rebound by Oct. 13, the company could transfer its securities to the Nasdaq Capital Market for another six months, according to a Cell Therapeutics regulatory filing.
The Seattle-based biotechnology firm has seen the price of its shares drop in recent months amid its efforts to restructure short-term debt.
“The company intends to actively monitor the bid price for its common stock between now and October 13, 2008, and will consider available options to resolve the deficiency and regain compliance with the Nasdaq minimum closing bid price requirement,” Cell Therapeutics said.
Shares closed at 80 cents Friday, unchanged from Thursday.
Upgrades of Office offered via Internet
Microsoft began testing a subscription pricing model for its Office software that gives consumers upgrades to new versions over the Internet.
The package includes word-processing, spreadsheet, presentation, anti-virus and photo software, Microsoft said Friday. The company didn’t disclose when the product, code-named Albany, will be released or how much it will cost.
Microsoft is testing subscription software amid new competition from Google, which offers free word-processing and spreadsheet programs that work through a Web browser. Businesses can buy Microsoft’s Office on a subscription basis.
Each Albany subscription will allow customers to install the software on three computers, Microsoft said.
Compiled from The Associated Press, Seattle Times staff and Bloomberg News