GE chief picked up 20% raise in '99

Article Abstract:

General Electric Co (GE) CEO Jack Welch, one of the US' most prominent CEOs, received a 20% increase in pay in 1999. The salary increase, a reward for the company's use of the Internet, brings Welch's salary and bonus to $13.3 million annually. Welch, who also received $31.3 million from GE's long-term incentive plan, was also able to exercise $48.5 million in stock options according to the company's filing with the Securities and Exchange Commission.

Electric Power Generation, Transmission and Distribution, Electric Utilities, General Electric Co.

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Global Crossing paid former CEO $15.9 million last year

Article Abstract:

Long distance telecommunications provider Global Crossing paid Bob Annunciata a total of $15.9 million in his single year as the firm's CEO. Annunciata's pay was composed of a $10 million signing bonus, a $1 million annual bonus, $4.4 million in severance pay and $465,000 in salary. He also earned $2.2 million by exercising stock options in 1999. Annunciata is credited for transforming Global Crossing from a little-known fiber- optic network into the No. 5 long-distance provider.

Long Distance Telephone Svc, Global Crossing Ltd.

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Philippines enacts computer crime law

Article Abstract:

An electronic commerce law was finally enacted in the Philippines by Pres Joseph Estrada on Jun 14, 2000 after the country received worlwide criticism for not having a system that should have punished perpetrators of the 'love bug' computer virus, an infectious program that damaged millions of computer systems around the world in May 2000. The e-commerce law mandates that hackers and those who spread computer viruses will be fined a minimum of $2,350 and a maximum that 'commensurates' with the damage caused, and imprisoned for up to three years.

Government regulation (cont), Specialized Telecom Services

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