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Author: muckety
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Peter Pace and Ed Giambastiani Go Corporate
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Robert Trout Takes on Another High Profile Case
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Making lots of hay at Deere & Company
Maybe Robert Lane, chairman and CEO of Deere & Company, is underpaid at $50 million a year?
Tuesday, with world stock markets melting down and the Dow off nearly 130 points, Deere shares gained nearly nine percent. One analyst even raised the target price for Deere stock, saying the prospects for the company’s tractors and other farm equipment are strong. (Story continues below interactive map.)
MAP HINTS: Click expands a name. Control+Click centers map on a name. Solid lines are current relations. Dotted lines are former relations. For advanced tools choose Tools > Options from the menu at top. More help. Not seeing the maps? Please go here to check for the latest version of Java.Last week, Deere released its annual proxy statement revealing that Lane earned $14.2 million in direct compensation in fiscal 2007 and another $39 million through exercising stock options and vested stock awards. Total take: $53 million plus.
In addition, the filing showed, Lane held vested, unexercised options worth $79 million on October 31 last year, and not-yet-vested options worth $23.4 million. That was at a stock price of $77.45. Deere closed Tuesday at $83.13.
With the value of those unexercised options alone, Lane could fund the annual budget ($112.7 million) of Deere’s hometown, Moline, Ill., and still have a few million left.
While Deere is based in Moline, it’s CEO has strong ties to Chicago. Lane is a national director of the Lyric Opera of Chicago and an honorary director of Lincoln Park Zoo, one of the nation’s oldest zoos.
Last year, Lane added Clayton Jones, chairman and CEO of Rockwell Collins, and Charles O. Holliday Jr., chairman and CEO of DuPont, to Deere’s powerful board of directors.
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Robert Trout takes on another high-profile case
The trial of Rep. William J. Jefferson, D-La., begins next month with the nine-term congressman and former chairman of the U.S. congressional caucus on African trade facing a 16-count indictment including fraud, bribery, racketeering and money laundering.
Jefferson is charged with taking more than $500,000 in bribes and soliciting much more in a scheme to broker business deals in Africa.
Making the case for the congressman, whose freezer was stuffed with $90,000 in cash in $10,000 packets wrapped in aluminum foil and stuffed inside frozen-food containers, will be attorney Robert P. Trout. (Story continues below interactive map.)
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A former federal prosecutor, Trout has defended other Democratic notables, including Carol Browner, chief of the Environmental Protection Agency during the Clinton administration. Browner had been charged with illegally destroying agency computer files that had been sought by a conservative legal foundation.Trout also defended Schuyler Tilney, a Houston-based Merrill Lynch executive, against charges of securities fraud. The Securities and Exchange Commission accused Tilney of helping Enron Corp. improperly inflate its profit figures.
Trout is a partner in the law firm Trout Cacheris with Plato Cacheris, who has represented Robert Hanssen and Aldrich Ames, spies serving life sentences. Other former clients of Cacheris include Monica Lewinsky, former U.S. Attorney General John Mitchell and Fawn Hall of Iran Contra fame.
Jefferson has hired PR chief Judy Smith of Impact Strategies, a crisis communications company in Washington, to help coordinate press queries and shape his media message during the trial. Smith work as a deputy press secretary for former President George H.W. Bush and has done work for Lewinsky, Sen. Larry Craig, and the family of Chandra Levy, the murdered congressional staffer who had an affair with former Rep. Gary Condit.
Trout has argued in recent pretrial hearings that certain evidence, including some of Jefferson’s statements to the FBI and evidence from Jefferson’s home, should not be admitted at the trial.
Trout asserts that FBI agents who raided Jefferson’s home in 2005 were overly hostile to Jefferson, who assumed they were going to arrest him.
“He thought he was going to be taken out in handcuffs,” Trout said.
Trout maintains that given the circumstances of the raid, the agents should have read the congressman his Miranda rights, but failed to do so.
Read related stories: Law · News
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Journalists Avoid the L Word
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Alice Waters Food Fighter
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Alice Waters, food fighter
Advocating locally grown food has taken Alice Waters far beyond Berkeley, home of Chez Panisse, the restaurant she founded in 1971.
Waters is author of nine cookbooks, head of the Chez Panisse Foundation, vice president of Slow Food (as in the opposite of fast food) International. And this week, she will be rubbing elbows with the global muckety mucks attending the World Economic Forum in Davos. (Story continues below interactive map.)
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Sessions on the forum agenda include “Rethinking the Food Chain” and “Are We Being Bio-Foolish,” topics close to her heart.Waters has been called a food revolutionary for her belief in organically grown foods, served only when they are in season.
Chez Panisse serves only one meal a day, using meats, vegetables and other foodstuffs provided by a carefully developed network of suppliers. Without knowing what the menu will be, diners reserve tables months in advance.
“Chez Panisse is a much larger enterprise than a restaurant,” wrote biographer Thomas McNamee, in Alice Waters and Chez Panisse. “It is a standard-bearer for a system of moral values. It is the leader of a style of cooking, of a social movement, and of a comprehensive philosophy of doing good and living well.”
Waters also pioneered the Edible Schoolyard project, in which schoolchildren prepare and eat food they grow themselves.
Now she is planning an event for Labor Day weekend, called Slow Food Nation, in which farmers and chefs will demonstrate earth-friendly foods.
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Larry Brilliant Takes on a 2b Challenge at Googleorg
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Riding Lou Dobbs Coattails
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