TNA’s top wrestling talent includes veteran wrestler and actor Hulk Hogan and Ric Flair. The company says in the lawsuit that WWE appears to have already tried to lure Flair and is pursuing TNA’s other wrestlers.An attorney for WWE denied the allegations. A message left for TNA’s corporate counsel on Friday was not immediately returned.The lawsuit, which was filed in Nashville this week, claims that a former TNA employee leaked secret information to WWE, which included the terms of the contracts TNA has with its wrestlers.Armed with the secret contract information, TNA says its Connecticut-based competitor is now in a position to steal its wrestlers by offering better deals. “The disclosure exposes TNA to potential liability with respect to its contract — WWE knows the ... Continue reading →
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NEW YORK (AP) — Profits at big U.S. companies broke records last year, and so did pay for CEOs.The head of a typical public company made $9.6 million in 2011, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm.That was up more than 6 percent from the previous year, and is the second year in a row of increases. The figure is also the highest since the AP began tracking executive compensation in 2006.Companies trimmed cash bonuses but handed out more in stock awards. For shareholder activists who have long decried CEO pay as exorbitant, that was a victory of sorts.That's because the stock awards are being tied more often to company performance. In those instances, CEOs ... Continue reading →
PHILADELPHIA (AP) -- The charity for troubled youths started by Jerry Sandusky more than three decades ago - and through which the retired Penn State assistant football coach met the boys he is charged with sexually abusing - said Friday it is seeking court approval to shut down and transfer its programs to a Texas-based youth ministry that serves abused and neglected children. The Second Mile said it has been financially crippled by the child-sex abuse scandal involving its founder and onetime public face and concluded after a six-month internal review that it had no other option but to close. The State College-based charity began the legal process of dissolving itself Friday, submitting a plan to Centre County Court that would transfer its programs and ... Continue reading →
