Business news for Tue, 25 Dec 2007 & with word chief. 14 news.

GOLDMAN Sachs Group Inc Chief Executive Officer Lloyd Blankfein claimed a US$67.9-million bonus, the biggest ever awarded to the CEO of a Wall Street firm, after delivering a record profit amid the subprime market collapse. Blankfein, 53, received US$26.8 million in cash and US$41.1 million in restricted stock and options, the New York-based firm said in a December 21 regulatory filing, Bloomberg News reported. His payout rose 26 percent from 2006 while mortgage-related losses drove Morgan Stanley CEO John Mack and Bear Stearns Cos chief James "Jimmy" Cayne to forgo year-end awards. Goldman, the largest US securities firm, shattered Wall Street earnings records for the fourth-consecutive year even as banks and brokerages including Citigroup Inc and Merrill Lynch & Co were forced to take at least US$96 billion worth of writedowns. Blankfein's bonus amounts to about two days' profit at his company during the 12 months to November 30. "This year has really

SANYO Electric Co, the Japanese electronics maker targeting its first profit in four years, may have its shares removed from the Tokyo Stock Exchange after misstating six years of financial results. The shares are on watch for possible delisting, the exchange said on its Website after Osaka-based Sanyo disclosed yesterday it understated losses from April 2000 to March 2006. Japan's Securities and Exchange Surveillance Commission recommended Sanyo be fined 8.3 million yen (US$72,650), Bloomberg News said. The misstatements may hamper recovery efforts by a company that had to be bailed out by creditors including Goldman Sachs Group Inc last year. Sanyo last month said it plans to invest 350 billion yen to focus on operations such as rechargeable batteries and cells that convert sunlight into energy. "Sanyo would have to further reorganize its business" if the shares become delisted, said Naoki Fujiwara, who helps oversee US$3.2 billion as chief fund manager at Shinkin

DELEK Real Estate Ltd, the Israeli company that backed out of a US$2.9-billion deal with Jelmoli AG, has agreed to buy 12 Frankfurt-area supermarkets from Metro AG, Germany's biggest retailer, for 243 million euros (US$349 million), Bloomberg News reported on Sunday. Delek, through its Delek Global Real Estate unit, will acquire the buildings from the Real supermarket chain, a subsidiary of Metro, the Netanya, Israel-based company said in an e-mailed statement to the stock exchange. Real will rent 10 of the supermarkets from Delek through 2022, and the other two through 2020, beginning at 16 million euros annually for all the properties. The rent will increase 6.7 percent every five years. "DGRE has again purchased a property with a quality tenant for a long period in a central area, and proved that even in these times it can use its connections to close deals and get good financing," Chief Executive Officer Ilik Rozanski said in the statement. Delek Real Estate, a

THE Bank of Japan deputy chief Toshiro Muto is still the front runner to replace Toshihiko Fukui when the governor's term ends in March, economists said. Thirteen of 15 economists surveyed by Bloomberg News last week said Muto will become central bank governor and adopt Fukui's policy of gradually raising interest rates, the lowest among major economies. Muto was the favorite last month as well, Bloomberg News reported. "Muto still has a clear competitive edge," said Hideo Kumano, a former central bank official and now chief economist at Dai-Ichi Life Research Institute in Tokyo. "Under him, the bank will probably seek a gradual rate increase." Fukui last week said the central bank remained committed to raising interest rates even as the economy cooled. At the same time, the bank cut its growth assessment for the first time in three years, saying the expansion will slow. "It's inconceivable to expect the bank to make a sudden policy shift under

SALES of new homes in the US fell in November, signaling no end to the housing recession that threatens to stall economic growth, economists said before a report this week. Purchases fell to an annual pace of 718,000 from 728,000 in October, according to the median forecast of economists surveyed by Bloomberg News. The 716,000 pace reached in September was the lowest since 1996, according to Bloomberg News. The real estate slump, already the deepest in 16 years, shows no sign of abating as discounts fail to lure buyers and inventories swell. The risk that the slowdown will spread through the entire economy is prompting business to rein in orders for new equipment, a separate report may also show. "We're not in line for any good news on housing for a long period of time," said Mike Schenk, chief economist at the Credit Union National Association, in Madison, Wisconsin. "It's a sector that will take a long time to turn around." The home sale figures are due

Wall Street analysts have complained about confusion during the executive transition, and there is a widespread view that there is no logical reason for the company's disparate assets.

A tentative restructuring agreement should unlock a $33 billion portion of Canada's debt market that has been frozen since August, its chief architect said. Fears about subprime lending in the United States has led to a liquidity crisis.

TEL AVIV (MarketWatch) -- Costco Wholesale Corp., the Issaquah, Wash., warehouse retailer, has had "pretty good" holiday sales and has kept inventories under control to avoid markdowns, Chief Financial Officer Richard Galanti told The Wall Street Journal. Selling well were more expensive gift packs with healthy and beauty items and those with chocolate and nuts. Also selling well, the executive told the paper, were women's outerwear and DVDs, while jewelry sales lagged.

Roseville-based Solar Power Inc. has raised $11.7 million through a private stock placement that should allow the company to continue the rapid expansion it logged in the last year, chief executive Steve Kircher said Monday.

TEL AVIV (MarketWatch) -- Ampal-American Israel Corp., the Tel Aviv investment firm, took an option to acquire a 35% interest in a project to produce ethanol from sugarcane from a company controlled by Ampal's chairman, president and chief executive officer. Separately, that company, Merhav, agreed to sell 25% to 35% of the project to Ecopetrol SA of Colombia. Terms of both deals weren't disclosed. Ampal said the move will add to its interests in clean energy and in the broader energy industry. As part of the option deal, Ampal has loaned Merhav $10 million to buy 11,000 hectares (27,000 acres) in Colombia for growing sugarcane and to build the ethanol facility. And Ampal agreed to advance as much as $10 million more to fund the project, it said in a Tuesday statement. Yosef Maiman, who holds the top three posts at Ampal, is sole owner of Merhav. A panel made up of Ampal's independent directors approved the deal. Houlihan Lokey Howard & Zukin advised the board committeee, Ampal said.

The annual salary paid to Jerry D. Weast, superintendent of the Montgomery County schools, has increased just $4,892 since he took the job eight years ago.

A tentative restructuring agreement should unlock $33 billion of Canada’s debt market that has been frozen since August, its chief architect said.

Hyundai Motor America said Jong Eun Kim would become president and chief executive of North American operations, based in Fountain Valley, Calif.

After being named chairman and chief executive of Merrill Lynch & Co. just three weeks ago, John Thain on Monday secured a capital infusion worth up to $6.2 billion and sold off one of Merrill's lending units.