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Wall Street’s top leaders are getting smaller pay packages after shares of their companies slumped last year.
Goldman Sachs Group Inc. cut Chief Executive Officer Lloyd C. Blankfein’s awards 4.2 percent to $23 million after the bank’s shares fell 7 percent and profit tumbled 28 percent in 2015. Morgan Stanley lowered CEO James Gorman’s pay by 6.7 percent to $21 million after the firm missed financial targets and the stock sank 18 percent, the worst performance among the six biggest banks.
Starbucks closing Teavana ‘tea bars’
NEW YORK >> Starbucks is retreating from Teavana “tea bars” that first opened in New York a little more than two years ago.
The company says it will convert the three tea bars in New York to Starbucks stores this spring and close another location in Beverly Hills, Calif. A fifth location in Seattle near its headquarters will remain open as a way to test new ideas.
The stores served made-to-order tea drinks and some food items, with places to sit much like at Starbucks stores.
The closure of the tea bars will not affect Teavana retail locations, which primarily sell packaged tea and appliances.
