Boss Denied Cash Bonus
Larry Ellison will have to go without a cash bonus for Oracles 2003 fiscal year.
Oracle shareholders last week approved a company-sponsored plan that will keep Ellison—the vendors founder, chairman and CEO—and Chief Financial Officer Jeff Henley from being awarded bonuses.
Like most other high-tech companies, Oracle has seen demand for products weaken over the past year.
At the same time, the company has battled the state of California in court over a $95 million software contract that the state canceled.
On a positive note, the shareholders re-elected all nine members of the board of directors, including Ellison and Henley.
AOL Will Banish Some Pop-Ups
In a nod to its members and advertisers, AOL Time Warner last week said that it will no longer run pop-up ads from third parties on its AOL online service.
Users were becoming more aggravated by the pop-ups, and advertisers said they detracted from what they were pitching, so Jon Miller, who recently was appointed chairman and CEO of the companys AOL division, made the call to discontinue the ads.
"The new policy will contribute to our most important goal—a better membership experience," Miller said in his announcement. "The most important thing we offer advertisers ... is the chance to be part of a service that consumers love, and ... pop-up ads arent the best way to do that."
However, AOL will continue to use pop-up ads to notify members of its services and special offers.