• ITVI.USA
    14,347.600
    105.650
    0.7%
  • OTRI.USA
    22.380
    -0.310
    -1.4%
  • OTVI.USA
    14,344.040
    98.760
    0.7%
  • TLT.USA
    2.760
    0.020
    0.7%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    14,347.600
    105.650
    0.7%
  • OTRI.USA
    22.380
    -0.310
    -1.4%
  • OTVI.USA
    14,344.040
    98.760
    0.7%
  • TLT.USA
    2.760
    0.020
    0.7%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • WAIT.USA
    127.000
    0.000
    0%
American Shipper

Struggling Gateway cuts big check for execs

Struggling Gateway cuts big check for execs

   Orange County computer maker Gateway Inc. Monday announced it paid three top executives nearly $4.5 million in executive compensation in 2006, including signing bonuses, severance pay and other incentives.

   The firm paid J. Edward Coleman, current chief executive officer, a total of $2.72 million since his start with the firm on Sept. 18.

   The total includes a $217,000 cash signing bonus, $25,361 in relocation costs, and a $1,875 401(k) match, according to the company’s annual proxy statement filed with the Securities and Exchange Commission.

   Coleman also received a bonus of $189,500, an amount that exceeded his entire 2006 salary by $2,000. Coleman’s regular annual salary has been set at $650,000.

   The Irvine-based firm also granted Coleman $2.20 million in stock options under the company’s equity incentive plan.

   Gateway has come under intense shareholder pressure to improve its performance.

   In February, it announced plans to cut $20 million to $25 million in expenses and lay off employees. Earlier in 2006, the company announced cuts of $30 million to $35 million and nearly 100 jobs amid declining revenue and flat PC sales.