Contract Called for Payout, Ex-Disney Officer Testifies
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The former director of the Walt Disney Company who helped negotiate the contract of Michael S. Ovitz, its former president, said the uproar after Mr.
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Walt Disney Co. could have fired Michael Ovitz as president without paying him $140 million in severance, a law professor testified Thursday in the trial of an investor lawsuit seeking return of the money.
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Walt Disney Co. chief executive Michael D. Eisner had been on the witness stand for about half an hour on Monday when the subject of former Disney president Michael S. Ovitz finally came up.
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GEORGETOWN, Del. - Michael Ovitz, Walt Disney Co.&#39;s former president, defended his record Tuesday as the entertainment giant&#39;s second in command, saying he was undercut a number of times by Chief Executive
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Disney CEO Michael Eisner vividly described his side of the painful 1996 breakup with former Disney president Michael Ovitz in testimony at a shareholder lawsuit here Tuesday.
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A former business associate of  Michael Jackson filed a breach-of-contract suit against the pop  star on Tuesday, seeking $3 million he says the performer owes  him for unpaid loans, cash advances and producing fees.
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A Walt Disney Co. director testified Tuesday that he believed Disney chief executive Michael Eisner had the authority to fire Michael Ovitz as the entertainment giant's president.
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GEORGETOWN, Del.  - Shareholders suing Walt Disney  Co.'s  board of directors on Thursday portrayed Michael Ovitz  as a dishonest and erratic executive who should have been fired  instead of walking away from his job with $140 million in  severance pay.
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GEORGETOWN, Del.  - Walt Disney Co.'s board of  directors went on trial on Wednesday, on shareholder  accusations that it merely rubberstamped a decision to hire  Michael Ovitz and allowed him to walk away months later with a  $140 million severance package.
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Description: In a closely watched trial in Delaware, former Hollywood agent Michael Ovitz took the stand yesterday to defend his tenure as president of the Walt Disney Company in the mid-&#39;90s.
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A lawyer for Michael S. Ovitz, the former president of the Walt Disney Company, argued Wednesday that his client should be excused as a defendant in a lawsuit
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Miramax Films is seeking compensation from the former head of its Italian unit, claiming that the executive, a friend of the companyÂs co-chairman, also held another job.
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Walt Disney Chairman George Mitchell said he was asked to become company president before the job was offered to Michael Ovitz, disputing testimony by CEO Michael Eisner.
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GEORGETOWN, Del.  - Michael Ovitz, once a top  Hollywood dealmaker, is set to testify Tuesday to face charges  by angry Walt Disney Co. shareholders that he cheated them when  he left the company with a $140 million severance package.
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Walt Disney Co President and Chief  Executive Robert Iger received a 7 percent increase in total  compensation in fiscal 2007, to $27.7 million, according to a  filing with the U.S. Securities and Exchange Commission on  Friday.
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GEORGETOWN, Del., Oct. 28 -- Plaintiffs in a shareholder lawsuit over former Walt Disney Co. president Michael Ovitz's $140 million severance package attempted Thursday to portray Ovitz as a dishonest bumbler who botched the hiring of a major television executive and pushed the release of a movie that angered the Chinese government, damaging Disney's business prospects in the country.
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Michael Ovitz wanted a &#36;50 million signing bonus to become president of the Walt Disney Co., but the directors who eventually hired him were not willing to make that kind of outlay, an executive compensation expert testified Tuesday.