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A Different bookstore SunTrust Banks president CEO James Wells received compensation valued The Best NonRequired Reading of 2007
Tue, 19 Feb 2008 18:19:23 +0000
The Annex bookstore sells a variety of books about the Caribbean African and Latin American cultures that are written by local and international authors of those same backgrounds. Co owned by husband and wife team Itah Sadu and Miguel San Vicente Sadu said when they purchased the bookstore years ago they mainly sold academic literature. Today they ve maintained that as well as expanded their inventory. There are books for everybody from children s to adults whether you re two or you re Sadu said. A children s author herself publishing her first book in the couple sells a range of books for teens and adults including cultural and historical stories classics poetry and children s books. My interest in participation purchasing the store was in children s literature so we expanded on that and in our relationships with the schools and education Sadu said. Because Sadu said she feels it s important to give back a large part of their philosophy at A Different Booklist is outreach to the community. Throughout the year they participate in a variety of programming with education being high on their priority list. Besides donating books to school libraries Sadu said local and international school groups often visit to interact with authors of their favourite books or to interact with stars such as actor Mario Van Peebles who recently stopped by the bookstore. Some Grade and s came to see him here and he spent half the day with them Sadu said. He was so engaging and had conversations with them and more importantly wanted to know about them. The bookstore also supports local and international authors from Africa to Jamaica by hosting book launches. Sadu said she hopes to inspire people to read Caribbean literature from a variety of authors because oftentimes people end up reading only American literature. When Americans come into the store they comment on diversity and the range of voices from different areas of the world people from the continent say that too she said. Sadu said her customers are like family and people don t just come to shop they bring their families and visitors from outside the city. She said it s also a community meeting place where people can get information. People come in and want to know what s happening in the city. They ask How can you connect me to this And then people also bring visitors . from the States people bring their youth groups she said. June Lewis is one of those people who happened upon A Different Booklist about six years ago when she had a problem regarding her daughter Shaye s reading level. The teacher wasn t impressed at the fact that she was reading chapter books and it got me really upset because they were saying she didn t understand a lot of the words she was reading and they thought it was too advanced for her Lewis said. Looking for some outside advice Lewis went to her favourite bookstore only to find it wasn t there anymore and instead came across A Different Booklist. I spoke to Itah to get some feedback about the problem and see if anyone else in the community was having that problem she said. There were also a couple of teachers that happened to be there and they gave me feedback as well. Not only did she come out of there feeling encouraged Lewis said she was also inspired. It motivated me even more to continue on the path that I was on with my daughter and there was nothing wrong with the level she was reading at she said. From then on going to A Different Booklist became Lewis and Shaye s Saturday adventure and they spent hours reading books and buying their favourites. Recently moving to Etobicoke Lewis said they still visit the bookstore often and recommends it to others. When parents tell me their kids don t like to read I tell them go to the bookstore and I tell them the books to look for she said. That word of mouth praise from their patrons has even reached celebrity ears. We ve seen the likes of Queen Latifah Shaquille O Neal Johnny Cochrane . it s one of the fringe benefits of owning a bookstore Sadu said. With the Internet many people turn to the computer rather than go to a bookstore but Sadu said there is room for both and a bookstore can offer something a computer can never replace. It s a centre of engagement where people come in to explore ideas or talk about concepts and it becomes a university and a speaker s corner of expression she said. Sadu also said A Different Booklist is a place of inclusion where everyone is welcome. It s important to convey that this is a store that s open to all people.it s all people and we re proud about that. Visit www.adifferentbooklist.com for information on upcoming events and book launches. User Comments Show Comments Hide Comments Be the first to comment top stories SIU probing shooting death Man robbed of wallet Senior injured in two car crash Man arrested after early February shooting Four sought for questioning in murder A Different bookstore Victim Services comes to Rexdale New mother longs for husband to come to Canada Membership controversy unleashes bitter rivalry Fire hits Goodwill again More than meets the eye with sleeping disorders Pitched pet waste battle continues Latest Blogs City Hall Ashton s off the Executive Committee Stars Above Incredible Mars Event in August NOT City Hall Why can t they just get along Naturopathic Perspectives The Hidden Dangers of MSG The Diversity File To remember or not to remember City Hall This is going to be a more interesting term than anybody thought Teen Sheet The answer to all of life s little questions Recent Stories Most Read Most Searched SIU probing shooting death Man robbed of wallet Senior injured in two car crash Man arrested after early February shooting Four sought for questioning in murder Victim Services comes to Rexdale New mother longs for husband to come to Canada Membership controversy unleashes bitter rivalry Fire hits Goodwill again A Different bookstore SIU probing shooting death Man robbed of wallet Senior injured in two car crash Man arrested after early February shooting Four sought for questioning in murder SIU probing shooting death Man robbed of wallet Senior injured in two car crash Man arrested after early February shooting Four sought for questioning in murder our papers our papers our network Featured Business our affiliates Insurance Hotline Stand Up Scarborough Walk of Fame About Us Copyright Notice Privacy Advertise Contact Us The Government appointed Quality More Blog Live from the terraces The English fans are loving every minute of England s onslaught of the Black Caps blogs Edward Gay from McLean Park. Photo Reuters Latest News Virgin Blue holdings says H profit down . per cent Rugby Chiefs focus on the Waratahs Skill shortage in Waikato region Tramper found dead near Greymouth NZ sharemarket falls gently Soccer Liverpool successful against Inter Today s Top Stories Gang kingpin exposed as medals broker EXCLUSIVE A leading gang figure was released from jail after negotiating the return of New Zealand s More Oil hits new record of over US The price of oil has finally done what it has been threatening to do for months pass the US threshhold More Airline justified in dismissing woman over cheap tickets The dismissal of an Air New Zealand worker who had tried to organise discounted fares for friends has More Lifestyle Oscar fashion goes to the dogs for real photos More National Beach hoons on wheels face speed crackdown More Kevin Roberts From the Edge Blog What is it about tattoos people More National RSS Plan to put police in schools full of problems The plan to put police officers in selected low decile high schools from next month is being criticised as fraught with problems . The Quality Public Education Coalition national More Intervention stopped second drowning police Olympic Committee set to loosen gag on athletes video Three more in court linked to terror raids More National World RSS Musharraf s rivals win Pakistan election video Pakistani President Pervez Musharraf s opponents won a big election victory after voters rejected his former ruling party raising questions about the future of the US ally who More Castro leaves the stage videos photos Fresh evidence of sexed up claims Obama and Clinton square off in Wisconsin video More World Diversions Horoscopes Sudoku Crosswords Get our RSS news feeds. Find out more Sign up Sponsored Links Save with American Express Gold Credit Card Compare and book the lowest Aussie fares right here Explore Unique Australian Nature Experiences Business RSS Find news by company Enter keyword Browse companies Personal Finance Mary Holm Hidden KiwiSaver bonus for the taking Sharing the spoils with youth More Personal Finance Joneses had loss of m on books The tenuous financial state of The Joneses came under fire yesterday as reasons behind the maverick real estate agency s failure began to emerge. Brian Gaynor of Milford Asset More Pumpkin Patch profit slips Job business park to be developed near Hamilton airport Currency Kiwi rise to US c may be short lived Dairy the cream on Wrightson result More Business Sport RSS View Photos Black Caps v England fourth ODI Eric Thompson Life s a drag . then you win Wynne Gray Old truths apply in new world of open rugby More Sport Opinion League Warriors star may be out for season The New Zealand Warriors suffered a big setback today with news that Wade McKinnon could be out for whole of the upcoming National Rugby League campaign. Scans have revealed More Updated Cricket Ryder halts England s momentum Rugby Henjak s career appears over Cricket Keep it simple and we ll wrap it up says Vettori Cricket Players on the block for the IPL auction More Sport Technology RSS Blog Microsoft s lukewarm HD DVD support was the killer I m hanging out in Britain for a few days where there are still HD DVD players and discs on sale in electronics stores but the British press seems to be unanimously welcoming More Microsoft to push hard on search engines Gadgets and gizmos make a safer drive Microsoft says end of HD DVD won t hurt Xbox BlackBerry maker and Motorola duel in lawsuits More Technology Politics RSS Maori suspicious of latest arrests Honour not for loans says Clark video John Armstrong Labour paying dearly for interest free loan from Glenn video Govt confirms Glenn may be made consul video More Politics Health RSS Nats claim government delayed hospital safety report Birth rates highest since tail of baby boom How would you make NZ hospitals safer Man boob ops up More Health Sideswipe with Ana Samways Bryan Hancock spotted this truck on the Eastern Arterial in Auckland on Monday. I know drugs are a real problem in NZ but I didn t know there was a delivery service for them. More Previous Sideswipes Best of business analysis Our experts analyse what the business headlines mean for you. More Latest Coverage Fran O Sullivan Housing a delicate issue for Govt Owen Hembry Feelgood factor may be too good to allow big changes Your Views Current Topic Your Views on the war medal theft Daniel Crichton a former Black Power member now linked to the Headhunters gang was released from jail on bail after negotiating the return of New Zealand s More Past Topics What do you think of Wellington Airport s proposed new terminal Will the Rugby World Cup preparations go smoothly Are New Zealanders bad drivers More Topics Most Popular Categories Stories Photos Gang kingpin exposed as medals broker Lindsay Lohan poses naked for Marilyn Monroe tribute Joneses had loss of m on books Lesbian sex attack retrial called off Officials DHB mistakes much higher than in report Categories Stories Photos Daytona Super week one Rod Stewart at Vector Arena Seen at Joker Poker Westpac Halberg Awards at Sky City. Live Scores Cricket NZ v England myNews What s this Choose your location Auckland Hamilton Wellington Christchurch Dunedin Bay of Plenty Blenheim Central North Island Coromandel East Cape Gisborne Greymouth Hawke s Bay Invercargill King Country Manawatu Wanganui Marlborough Masterton Napier Nelson Region New Plymouth Northland Oamaru Palmerston North Queenstown Rotorua Southland Taranaki Taupo Tauranga Timaru Wanganui Whangarei Westland flash READERS POLL Do you think it s safe to be treated in our public hospitals Yes No Related story Report reveals scale of hospitals worst mistakes More polls Entertainment RSS Britney Spears kept away from her kids Pop star Britney Spears has failed to regain the right to see her two children after a closed door court hearing in the lengthy and bitter custody dispute with More Blog Winehouse s hubby trades missus for drugs McCartney to get naked for Brits Pink and Carey Hart to divorce Paris Hilton banned from the Oscars More Entertainment Travel RSS Weekender Easy way to get into hot water Hanmer Springs is a Canterbury favourite and for good reason. A sleepy alpine town forest walks and thermal hot pools that have been named New Zealand s best More Let s Go NZ Beautiful old boats The real Madrid Blog Phil Goff and the Ghanaian gardeners More Travel Lifestyle RSS Oscar fashion goes to the dogs for real LOS ANGELES Are you one of the millions of fashion fiends who covet Oscar red carpet styles Sadly the costly gowns worn by Hollywood s elite will likely never More Tapping a ready market Blog Casual Cool Weird and wonderful photos More Lifestyle Find the job you ll love at New Zealands premiere employment website search jobs.co.nz Choose from thousands of properties and find your ideal home with search homes.co.nz Classifieds Employment Jobs search jobs Situations wanted Job training Property Homes search homes Property investment Motoring Cars Motorcycles Commercial Vehicles Boats Marine Businesses Business for sale wanted Business opportunities For Sale sellmefree Public notices Public notices Personal Miscellaneous Birth Notices Death Notices Family Notices Leisure Travel Connexions Adult Entertainment Place an advertisement Top of page Subscribe to the print edition Reader Services Subscription Services Book a Classified ad Photo Sales Reader Panel Supplements Promotions Competitions Herald Foundation News Direct to You Via RSS Via Email To Your PDA Digital Replica of Paper Footer Navigation Home Contact FAQ Site Help Careers at APN Sponsorships Feedback Letters to the Editor Advertising Classifieds The New Zealand Herald nzherald.co.nz Privacy Policy Terms of Use Group Sites Copyright APN Holdings NZ Limited Served by Lupin Instance static Feb business World business Autos Real estate Retail Careers Money Small business Viewpoints Categories U.S. news World news Politics Business Sports Entertainment Health Tech science Travel Weather Local news Browse Video Photos Community Today Show Nightly News Dateline NBC Meet the Press MSNBC TV SunTrust Banks president CEO James Wells received compensation valued at . million in By BY SARA LEPRO NEW YORK The president and chief executive of regional bank SunTrust Banks Inc. received compensation valued at about . million in fiscal according to a regulatory filing Tuesday. The Atlanta based bank awarded James M. Wells III million in base salary and in non equity incentive plan compensation. Wells who has served as president and CEO since January also received option awards valued at . million on the days they were granted and in above market earnings on deferred compensation. Additionally SunTrust awarded Wells in the all other compensation category which included financial planning services use of company aircraft club memberships and k matching contributions. The AP s total pay calculations include executives salary bonus incentives perks above market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don t include changes in the present value of pension benefits and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission. According to SunTrust s proxy filing executive compensation is tied almost entirely to corporate performance. The compensation committee annually reviews a select group of peer companies including Bank of America Corp. Fifth Third Bancorp KeyCorp and Wachovia Corp. as well as the broader financial services industry to ensure it continues to offer competitive compensation. During the fourth quarter SunTrust recorded a million loss tied to the purchase of securities from money market funds managed by a subsidiary and from structured investment vehicles. SunTrust purchased the securities because of the lack of an active debt market. As delinquencies and defaults among loans especially mortgages have increased investors have shied away from buying securities backed by the trouble loans. That has forced banks to reduce the value of the securities. Instead of recording a loss in the investment funds SunTrust purchased the securities at actual value and then recorded the losses on its own books. SunTrust also recorded million in write downs tied to other securities and mortgages. For the full year SunTrust earned . billion or . per share down from . billion or . per share in . Last week the company said Wells will assume the role of chairman at the company s annual meeting April replacing L. Phillip Humann who has been executive chairman since January . Humann served as SunTrust s chairman president and CEO for nine years. In he received compensation valued at million according to AP calculations. He will remain with the company for one year as a consultant before retiring in . As of Sept. SunTrust had total assets of . billion. It operates more than branches in Alabama Arkansas Florida Georgia Maryland Mississippi North Carolina South Carolina Tennessee Virginia West Virginia and the District of Columbia. SunTrust shares fell cents to close Tuesday at . . Shares have fallen percent from a week high of . in May. Copyright The Associated Press. All rights reserved. This material may not be published broadcast rewritten or redistributed. 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A Different bookstore SunTrust Banks president CEO James Wells received compensation valued The Best NonRequired Reading of 2007
Tue, 19 Feb 2008 18:19:23 +0000
The Annex bookstore sells a variety of books about the Caribbean African and Latin American cultures that are written by local and international authors of those same backgrounds. Co owned by husband and wife team Itah Sadu and Miguel San Vicente Sadu said when they purchased the bookstore years ago they mainly sold academic literature. Today they ve maintained that as well as expanded their inventory. There are books for everybody from children s to adults whether you re two or you re Sadu said. A children s author herself publishing her first book in the couple sells a range of books for teens and adults including cultural and historical stories classics poetry and children s books. My interest in participation purchasing the store was in children s literature so we expanded on that and in our relationships with the schools and education Sadu said. Because Sadu said she feels it s important to give back a large part of their philosophy at A Different Booklist is outreach to the community. Throughout the year they participate in a variety of programming with education being high on their priority list. Besides donating books to school libraries Sadu said local and international school groups often visit to interact with authors of their favourite books or to interact with stars such as actor Mario Van Peebles who recently stopped by the bookstore. Some Grade and s came to see him here and he spent half the day with them Sadu said. He was so engaging and had conversations with them and more importantly wanted to know about them. The bookstore also supports local and international authors from Africa to Jamaica by hosting book launches. Sadu said she hopes to inspire people to read Caribbean literature from a variety of authors because oftentimes people end up reading only American literature. When Americans come into the store they comment on diversity and the range of voices from different areas of the world people from the continent say that too she said. Sadu said her customers are like family and people don t just come to shop they bring their families and visitors from outside the city. She said it s also a community meeting place where people can get information. People come in and want to know what s happening in the city. They ask How can you connect me to this And then people also bring visitors . from the States people bring their youth groups she said. June Lewis is one of those people who happened upon A Different Booklist about six years ago when she had a problem regarding her daughter Shaye s reading level. The teacher wasn t impressed at the fact that she was reading chapter books and it got me really upset because they were saying she didn t understand a lot of the words she was reading and they thought it was too advanced for her Lewis said. Looking for some outside advice Lewis went to her favourite bookstore only to find it wasn t there anymore and instead came across A Different Booklist. I spoke to Itah to get some feedback about the problem and see if anyone else in the community was having that problem she said. There were also a couple of teachers that happened to be there and they gave me feedback as well. Not only did she come out of there feeling encouraged Lewis said she was also inspired. It motivated me even more to continue on the path that I was on with my daughter and there was nothing wrong with the level she was reading at she said. From then on going to A Different Booklist became Lewis and Shaye s Saturday adventure and they spent hours reading books and buying their favourites. Recently moving to Etobicoke Lewis said they still visit the bookstore often and recommends it to others. When parents tell me their kids don t like to read I tell them go to the bookstore and I tell them the books to look for she said. That word of mouth praise from their patrons has even reached celebrity ears. We ve seen the likes of Queen Latifah Shaquille O Neal Johnny Cochrane . it s one of the fringe benefits of owning a bookstore Sadu said. With the Internet many people turn to the computer rather than go to a bookstore but Sadu said there is room for both and a bookstore can offer something a computer can never replace. It s a centre of engagement where people come in to explore ideas or talk about concepts and it becomes a university and a speaker s corner of expression she said. Sadu also said A Different Booklist is a place of inclusion where everyone is welcome. It s important to convey that this is a store that s open to all people.it s all people and we re proud about that. Visit www.adifferentbooklist.com for information on upcoming events and book launches. User Comments Show Comments Hide Comments Be the first to comment top stories SIU probing shooting death Man robbed of wallet Senior injured in two car crash Man arrested after early February shooting Four sought for questioning in murder A Different bookstore Victim Services comes to Rexdale New mother longs for husband to come to Canada Membership controversy unleashes bitter rivalry Fire hits Goodwill again More than meets the eye with sleeping disorders Pitched pet waste battle continues Latest Blogs City Hall Ashton s off the Executive Committee Stars Above Incredible Mars Event in August NOT City Hall Why can t they just get along Naturopathic Perspectives The Hidden Dangers of MSG The Diversity File To remember or not to remember City Hall This is going to be a more interesting term than anybody thought Teen Sheet The answer to all of life s little questions Recent Stories Most Read Most Searched SIU probing shooting death Man robbed of wallet Senior injured in two car crash Man arrested after early February shooting Four sought for questioning in murder Victim Services comes to Rexdale New mother longs for husband to come to Canada Membership controversy unleashes bitter rivalry Fire hits Goodwill again A Different bookstore SIU probing shooting death Man robbed of wallet Senior injured in two car crash Man arrested after early February shooting Four sought for questioning in murder SIU probing shooting death Man robbed of wallet Senior injured in two car crash Man arrested after early February shooting Four sought for questioning in murder our papers our papers our network Featured Business our affiliates Insurance Hotline Stand Up Scarborough Walk of Fame About Us Copyright Notice Privacy Advertise Contact Us The Government appointed Quality More Blog Live from the terraces The English fans are loving every minute of England s onslaught of the Black Caps blogs Edward Gay from McLean Park. Photo Reuters Latest News Virgin Blue holdings says H profit down . per cent Rugby Chiefs focus on the Waratahs Skill shortage in Waikato region Tramper found dead near Greymouth NZ sharemarket falls gently Soccer Liverpool successful against Inter Today s Top Stories Gang kingpin exposed as medals broker EXCLUSIVE A leading gang figure was released from jail after negotiating the return of New Zealand s More Oil hits new record of over US The price of oil has finally done what it has been threatening to do for months pass the US threshhold More Airline justified in dismissing woman over cheap tickets The dismissal of an Air New Zealand worker who had tried to organise discounted fares for friends has More Lifestyle Oscar fashion goes to the dogs for real photos More National Beach hoons on wheels face speed crackdown More Kevin Roberts From the Edge Blog What is it about tattoos people More National RSS Plan to put police in schools full of problems The plan to put police officers in selected low decile high schools from next month is being criticised as fraught with problems . The Quality Public Education Coalition national More Intervention stopped second drowning police Olympic Committee set to loosen gag on athletes video Three more in court linked to terror raids More National World RSS Musharraf s rivals win Pakistan election video Pakistani President Pervez Musharraf s opponents won a big election victory after voters rejected his former ruling party raising questions about the future of the US ally who More Castro leaves the stage videos photos Fresh evidence of sexed up claims Obama and Clinton square off in Wisconsin video More World Diversions Horoscopes Sudoku Crosswords Get our RSS news feeds. Find out more Sign up Sponsored Links Save with American Express Gold Credit Card Compare and book the lowest Aussie fares right here Explore Unique Australian Nature Experiences Business RSS Find news by company Enter keyword Browse companies Personal Finance Mary Holm Hidden KiwiSaver bonus for the taking Sharing the spoils with youth More Personal Finance Joneses had loss of m on books The tenuous financial state of The Joneses came under fire yesterday as reasons behind the maverick real estate agency s failure began to emerge. Brian Gaynor of Milford Asset More Pumpkin Patch profit slips Job business park to be developed near Hamilton airport Currency Kiwi rise to US c may be short lived Dairy the cream on Wrightson result More Business Sport RSS View Photos Black Caps v England fourth ODI Eric Thompson Life s a drag . then you win Wynne Gray Old truths apply in new world of open rugby More Sport Opinion League Warriors star may be out for season The New Zealand Warriors suffered a big setback today with news that Wade McKinnon could be out for whole of the upcoming National Rugby League campaign. Scans have revealed More Updated Cricket Ryder halts England s momentum Rugby Henjak s career appears over Cricket Keep it simple and we ll wrap it up says Vettori Cricket Players on the block for the IPL auction More Sport Technology RSS Blog Microsoft s lukewarm HD DVD support was the killer I m hanging out in Britain for a few days where there are still HD DVD players and discs on sale in electronics stores but the British press seems to be unanimously welcoming More Microsoft to push hard on search engines Gadgets and gizmos make a safer drive Microsoft says end of HD DVD won t hurt Xbox BlackBerry maker and Motorola duel in lawsuits More Technology Politics RSS Maori suspicious of latest arrests Honour not for loans says Clark video John Armstrong Labour paying dearly for interest free loan from Glenn video Govt confirms Glenn may be made consul video More Politics Health RSS Nats claim government delayed hospital safety report Birth rates highest since tail of baby boom How would you make NZ hospitals safer Man boob ops up More Health Sideswipe with Ana Samways Bryan Hancock spotted this truck on the Eastern Arterial in Auckland on Monday. I know drugs are a real problem in NZ but I didn t know there was a delivery service for them. More Previous Sideswipes Best of business analysis Our experts analyse what the business headlines mean for you. More Latest Coverage Fran O Sullivan Housing a delicate issue for Govt Owen Hembry Feelgood factor may be too good to allow big changes Your Views Current Topic Your Views on the war medal theft Daniel Crichton a former Black Power member now linked to the Headhunters gang was released from jail on bail after negotiating the return of New Zealand s More Past Topics What do you think of Wellington Airport s proposed new terminal Will the Rugby World Cup preparations go smoothly Are New Zealanders bad drivers More Topics Most Popular Categories Stories Photos Gang kingpin exposed as medals broker Lindsay Lohan poses naked for Marilyn Monroe tribute Joneses had loss of m on books Lesbian sex attack retrial called off Officials DHB mistakes much higher than in report Categories Stories Photos Daytona Super week one Rod Stewart at Vector Arena Seen at Joker Poker Westpac Halberg Awards at Sky City. Live Scores Cricket NZ v England myNews What s this Choose your location Auckland Hamilton Wellington Christchurch Dunedin Bay of Plenty Blenheim Central North Island Coromandel East Cape Gisborne Greymouth Hawke s Bay Invercargill King Country Manawatu Wanganui Marlborough Masterton Napier Nelson Region New Plymouth Northland Oamaru Palmerston North Queenstown Rotorua Southland Taranaki Taupo Tauranga Timaru Wanganui Whangarei Westland flash READERS POLL Do you think it s safe to be treated in our public hospitals Yes No Related story Report reveals scale of hospitals worst mistakes More polls Entertainment RSS Britney Spears kept away from her kids Pop star Britney Spears has failed to regain the right to see her two children after a closed door court hearing in the lengthy and bitter custody dispute with More Blog Winehouse s hubby trades missus for drugs McCartney to get naked for Brits Pink and Carey Hart to divorce Paris Hilton banned from the Oscars More Entertainment Travel RSS Weekender Easy way to get into hot water Hanmer Springs is a Canterbury favourite and for good reason. A sleepy alpine town forest walks and thermal hot pools that have been named New Zealand s best More Let s Go NZ Beautiful old boats The real Madrid Blog Phil Goff and the Ghanaian gardeners More Travel Lifestyle RSS Oscar fashion goes to the dogs for real LOS ANGELES Are you one of the millions of fashion fiends who covet Oscar red carpet styles Sadly the costly gowns worn by Hollywood s elite will likely never More Tapping a ready market Blog Casual Cool Weird and wonderful photos More Lifestyle Find the job you ll love at New Zealands premiere employment website search jobs.co.nz Choose from thousands of properties and find your ideal home with search homes.co.nz Classifieds Employment Jobs search jobs Situations wanted Job training Property Homes search homes Property investment Motoring Cars Motorcycles Commercial Vehicles Boats Marine Businesses Business for sale wanted Business opportunities For Sale sellmefree Public notices Public notices Personal Miscellaneous Birth Notices Death Notices Family Notices Leisure Travel Connexions Adult Entertainment Place an advertisement Top of page Subscribe to the print edition Reader Services Subscription Services Book a Classified ad Photo Sales Reader Panel Supplements Promotions Competitions Herald Foundation News Direct to You Via RSS Via Email To Your PDA Digital Replica of Paper Footer Navigation Home Contact FAQ Site Help Careers at APN Sponsorships Feedback Letters to the Editor Advertising Classifieds The New Zealand Herald nzherald.co.nz Privacy Policy Terms of Use Group Sites Copyright APN Holdings NZ Limited Served by Lupin Instance static Feb business World business Autos Real estate Retail Careers Money Small business Viewpoints Categories U.S. news World news Politics Business Sports Entertainment Health Tech science Travel Weather Local news Browse Video Photos Community Today Show Nightly News Dateline NBC Meet the Press MSNBC TV SunTrust Banks president CEO James Wells received compensation valued at . million in By BY SARA LEPRO NEW YORK The president and chief executive of regional bank SunTrust Banks Inc. received compensation valued at about . million in fiscal according to a regulatory filing Tuesday. The Atlanta based bank awarded James M. Wells III million in base salary and in non equity incentive plan compensation. Wells who has served as president and CEO since January also received option awards valued at . million on the days they were granted and in above market earnings on deferred compensation. Additionally SunTrust awarded Wells in the all other compensation category which included financial planning services use of company aircraft club memberships and k matching contributions. The AP s total pay calculations include executives salary bonus incentives perks above market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don t include changes in the present value of pension benefits and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission. According to SunTrust s proxy filing executive compensation is tied almost entirely to corporate performance. The compensation committee annually reviews a select group of peer companies including Bank of America Corp. Fifth Third Bancorp KeyCorp and Wachovia Corp. as well as the broader financial services industry to ensure it continues to offer competitive compensation. During the fourth quarter SunTrust recorded a million loss tied to the purchase of securities from money market funds managed by a subsidiary and from structured investment vehicles. SunTrust purchased the securities because of the lack of an active debt market. As delinquencies and defaults among loans especially mortgages have increased investors have shied away from buying securities backed by the trouble loans. That has forced banks to reduce the value of the securities. Instead of recording a loss in the investment funds SunTrust purchased the securities at actual value and then recorded the losses on its own books. SunTrust also recorded million in write downs tied to other securities and mortgages. For the full year SunTrust earned . billion or . per share down from . billion or . per share in . Last week the company said Wells will assume the role of chairman at the company s annual meeting April replacing L. Phillip Humann who has been executive chairman since January . Humann served as SunTrust s chairman president and CEO for nine years. In he received compensation valued at million according to AP calculations. He will remain with the company for one year as a consultant before retiring in . As of Sept. SunTrust had total assets of . billion. It operates more than branches in Alabama Arkansas Florida Georgia Maryland Mississippi North Carolina South Carolina Tennessee Virginia West Virginia and the District of Columbia. SunTrust shares fell cents to close Tuesday at . . Shares have fallen percent from a week high of . in May. Copyright The Associated Press. All rights reserved. This material may not be published broadcast rewritten or redistributed. 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