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Microsoft CEO’s pay falls to $1.3M

Published: 10/10/12 @ 12:00


Microsoft CEO’s pay falls to $1.3M

BELLEVUE, Wash.

Microsoft CEO Steve Ballmer’s pay package fell 4 percent after his bonus was trimmed partly due to slower-than-planned progress in the software company’s online business and a drop in revenue at its Windows division.

According to a securities filing Tuesday, Ballmer’s pay dropped to $1.3 million from $1.4 million in Microsoft’s latest fiscal year through June.

Ballmer, 56, got a performance-related bonus of $620,000, down from $682,500. His salary was little changed at $685,000.

The Associated Press’ calculation includes salary, bonus and other all other compensation received by Ballmer. He voluntarily did not receive any stock awards.

Lawmakers seek more drug oversight

WASHINGTON

Two Democratic lawmakers Tuesday called for stricter federal oversight of compounding pharmacies in the wake of a deadly meningitis outbreak linked to contaminated injections made by a Massachusetts specialty pharmacy.

Reps. Rosa DeLauro and Edward Markey said in separate statements that they will draft legislation to give the Food and Drug Administration more authority to police the safety of custom-mixed medicines, known as compounded drugs.

Compounding pharmacies traditionally supply products that are not available commercially, based on an individual doctor’s prescription. But some pharmacies have grown into larger businesses, operating across state lines and supplying drugs to thousands of hospitals, clinics and physicians.

As many as 13,000 people received steroid shots from the New England Compounding Center of Framingham, Mass., according to the Centers for Disease Control and Prevention.

The contaminated shots now have been associated with 119 cases of meningitis, including 11 deaths, the agency said Tuesday. The company has recalled the fungus-contaminated steroid, which was shipped to 23 states.

Wal-Mart tests same-day delivery

NEW YORK

Wal-Mart is testing a same-day delivery service in select markets for customers who buy popular items online during the holiday- shopping season.

The move comes as the world’s largest retailer faces increasing competition from online giants such as Amazon.com, which is testing same-day delivery service in 10 markets. The Bentonville, Ark.-based discounter is trying to cater to Web-savvy shoppers who are demanding more convenience.

Wal-Mart’s tests started this month in northern Virginia and Philadelphia. The program rolled out to Minneapolis on Tuesday. Wal-Mart plans to test the service in San Francisco and San Jose, Calif., later this month or in early November.

From wire reports