BROOMFIELD — Vail Resorts Inc. chief executive Robert Katz received compensation valued at $1.9 million in fiscal 2007, including ski school and lodging privileges, according to a regulatory filing submitted Friday.
Katz earned a base salary of $829,929 but no bonus.
He also received $1.01 million in nonequity incentive plan compensation and $19,754 in other compensation, including contributions for insurance, matching 401(k) funds and $9,057 in lodging and ski school privileges and discretionary money for goods and services at resort properties.
The company outlined the compensation package Friday in a Securities and Exchange Commission filing. It set an annual meeting Dec. 7 where shareholders will elect board directors and approve annual incentive compensation, among other business.
Workers’ comp premiums set to fall. The Colorado Division of Insurance said Friday that workers’ compensation premiums may be reduced by as much as $72.5 million in 2008, compared with current premiums.
The division finalized the 2008 workers’ compensation loss costs, which is the base rate from which premiums are calculated. The 2008 loss costs represent a 7.5 percent decrease from the 2006 loss costs.
In other news involving the Division of Insurance, Celtic Insurance Co. will appeal a market conduct order and a fine of approximately $280,000.
Insurance Commissioner Marcy Morrison signed the order Aug. 24, which reviewed a host of issues for the company in 2005, including noncompliance with contract form requirements, the untimely payment of claims for consumers, inappropriate denial of benefits and the unlawful issuance of certain types of policies.
Countrywide expects to turn fourth-quarter profit
LOS ANGELES — Just a couple of months ago, worries that the home loan crisis would sink Countrywide Financial Corp., the nation’s largest mortgage lender, sent customers bolting to yank their savings from the company’s banking subsidiary.
Now, Angelo Mozilo, the company’s chairman and chief executive, says the company is on the mend and predicts the company will turn a profit in the fourth quarter and next year – despite posting a loss Friday of more than $1 billion for the third quarter.
$3.67 billion buyout of Bausch & Lomb complete ROCHESTER, N.Y. — Private equity firm Warburg Pincus said Friday that it has completed its $3.67 billion buyout of troubled eye care products maker Bausch & Lomb Inc. Bausch & Lomb’s board agreed to a $65-a-share buyout in May.
