Business in brief: Weyerhaeuser chief gets $3.8M
The chief executive of Weyerhaeuser Co., Steven Rogel, was granted some $3.8 million in compensation last year as valued by the company, according to an analysis of a regulatory filing the forest products company issued Friday.
The Securities and Exchange Commission filing said Rogel, who also is the company’s chairman and president, received a base salary of $1.28 million in 2006.
Rogel also collected incentive plan compensation of $1.3 million and other compensation of $30,377, which included retirement plan contributions, life insurance and financial counseling.
He was awarded stock options with an estimated value of $1.17 million when they were granted, the filing showed.
Federal Way-based Weyerhaeuser is one of the world’s largest forest products companies.
Detroit
Ford to repay Navistar
Ford Motor Co. will repay Navistar International Inc. $80 million as part of a deal that will ensure continued supply of diesel engines for its Super Duty pickup trucks in the immediate future.
Ford had debited about $160 million from Navistar invoices as part of the dispute over warranty and pricing issues. An agreement reached Thursday and released Friday by a Michigan circuit court judge states Ford must transfer $80 million to Navistar by March 13.
The auto maker can pursue a return of the $80 million through its ongoing lawsuit. Ford sued Navistar in January in Oakland County Circuit Court in Michigan, citing the warranty and pricing issues.
San Francisco
Kmart to add its own beverages
Kmart will roll out 32 new products in a line of private-label beverages, the discount retailer said Friday, but it’s giving carbonated soft drinks a pass.
The additions to the American Fare line include green iced tea, vitamin water, energy drinks, fruit-flavored water and Vitamin C-laden juice pouches.
Already under the American Fare beverage line are a number of flavored sparkling waters, along with spring waters.
The drinks will be introduced in some stores today and are expected to be available at all Kmart stores in April.
San Francisco
Yahoo plan doesn’t impress
Yahoo Inc.’s recently resurgent stock retreated by more than 5 percent Friday amid fears that a setback in a lucrative partnership with AT&T Inc. will undercut the anticipated gains from an overhaul of the Web portal’s advertising platform.
The sell-off was triggered by an unconfirmed report in The Wall Street Journal that AT&T wants to stop giving Yahoo a slice of the subscriber fees from a 6-year-old co-branding agreement to sell Internet access in most of the country.
If AT&T gets its way, Yahoo would have to be satisfied with whatever money it could make by selling its own online products.