In interviews, foundation officials partly blamed the 2008 recession and difficulties in getting donors to provide operating support rather than restricted grants for specific programs for the deficits.
How ironic, then, that Congress, which unsuccessfully attempted to lift the arms embargpo against the Bosnian Army, now seems eager to embrace an insidious bill--called the Immigration in the National Interest Act, drafted by Representative Lamar Smith, of Texas--that would severely restrict grants of political asylum.
His first year's total compensation was $7.9 million, including an initial $4.3 million restricted stock grant, vested over 10 years, and a $500,000 long-term performance payout.
Because Walewski restricted his grant to composers who had not had any previous work performed commercially, Bizet hurriedly withdrew La guzla from the Opéra-Comique; it has never been performed, and the music has disappeared.
Executive compensation committees are using cash bonuses, restricted stock grants and phantom stock grants to replace stock purchases financed with loans, says William Neff, a tax lawyer with Hogan & Hartson in Washington, D.C.
In the current environment, restricted stock grants, for example, may be preferable to option grants, given that stock grants will align director and shareholder interests more directly and avoid the perception that option grants may encourage directors to support more aggressive risk-taking on the part of management to maximize option values.
"If we're heading to full-value restricted stock grants, we may be going to a worse place than we were with options, because those grants may be less sensitive to actual performance".
The restricted stock grants came before these boffo results.
Typically, restricted stock grants vest over longer periods.
Restricted stock grants, on the other hand, have less upside.
