COMPENSATION

POLL SHOWS AFFLUENT SAY CEOS ARE OVERPAID

Even the affluent say America’s corporate chiefs are overpaid. Eighty-four percent of American investors with household incomes exceeding $100,000 believe the nation’s chief executive officers make too much money, according to the latest Bloomberg/Los Angeles Times poll.That compares with 81% for all respondents to the poll, which was taken February 25 to March 5.

– Bloomberg News

BANKING

CITIGROUP ELECTS PRINCE AS CHAIRMAN

Citigroup’s board of directors elected Chief Executive Charles Prince as chairman, a post he will assume next month when Sanford Weill retires. Mr. Prince’s elevation to the chairman role, which was widely expected, solidifies his perch atop the world’s biggest bank.

– Dow Jones Newswires

NEWSPAPERS

MCCLATCHY WILL SELL 12 PAPERS TO SEVERAL BUYERS

The bloc of 12 newspapers being sold by the McClatchy Company as part of its acquisition of Knight Ridder will likely be broken up and bought by several buyers, McClatchy said yesterday. A spokeswoman for McClatchy, Elaine Lintecum, said there has been strong interest in the papers by several parties, although she declined to name them. “It’s not likely to be one transaction,” she said. “It’s not likely to be 12 transactions. It’s somewhere in between.”

– Associated Press

MANUFACTURING

NEW TYPE OF GLASS FROM CORNING SHOULD TRIM PRODUCTION COSTS

ROCHESTER – A heavy metal-free glass developed by Corning will trim production and recycling costs at a time when prices for the super-thin screens used in liquid-crystal-display televisions are falling more sharply than ever.

The Eagle XG glass is the first in the LCD industry to be completely free of arsenic as well as other heavy metals such as barium and antimony and halides like chlorine and fluorine that can produce potentially harmful byproducts during manufacturing, the company said yesterday. “This is one of the most significant glass inventions in a generation,” Corning’s director of display-technology research, Peter Bocko, said.”It reduces the overall cost all the way from digging stuff out of the ground to the end of life of the display.”

– Associated Press

BROADCAST

VERIZON FILES COMPLAINT AGAINST CABLEVISION OVER PROGRAMMING

Verizon Communications fired another shot in its fight to bring video service to regions once dominated by cable companies.The New York phone company said yesterday it filed a complaint with the Federal Communications Commission against Cablevision Systems, alleging that the cable company was employing anticompetitive practices in dragging its feet over negotiations relating to sports programming. Cablevision unit Rainbow Media Holdings operates regional sports networks in New York that show games of local teams such as the New York Knicks, New York Rangers, and New Jersey Devils.

– Dow Jones Newswires

IN BRIEF

Time Warner agreed to pay $4.5 million to settle an investigation by 23 states into the company’s magazine billing and collection practices, the New York attorney general, Eliot Spitzer, said yesterday … Jones Apparel Group, owner of Barneys New York stores, put itself up for sale after profit fell for two consecutive years. The company hired Goldman Sachs as financial adviser … Colgate-Palmolive is acquiring a majority stake in Tom’s of Maine for about $100 million … Microsoft will more than double shipments of its Xbox 360 video-game console, seizing on a delay in Sony’s PlayStation 3.

– Bloomberg News