Bitten Apple
Apple shares hit their lowest level since January 2012, touching as low as $419 yesterday before closing down 2.4 percent at $420.05.
Heinz $56M
Heinz CEO William Johnson is entitled to a golden parachute worth $56 million if he’s fired by the company’s new owners, Warren Buffet’s Berkshire Hathaway and 3G Capital. Heinz disclosed Johnson’s deal in a regulatory filing yesterday.
Carl’s OK
Netflix investor Carl Icahn, in a vote of confidence in Chief Executive Officer Reed Hastings, said he won’t seek seats on the board of the online video service and won’t sell his 10 percent stake.
Houseclean
Edward DeMarco, acting head of the Federal Housing Finance Agency, is putting forth a plan to combine Fannie Mae and Freddie Mac divisions that issue securities backed by home loans.
Swiss hiss
Wegelin & Co. was ordered to pay US authorities almost $58 million after the Swiss bank pleaded guilty to helping US taxpayers hide more than $1.2 billion from the IRS.