Wachovia Corp (NYSE:WB), which lost $33 billion in the last two quarters, said 10 top executives may be entitled to $98.1 million in severance pay after the bank is acquired by Wells Fargo & Co (NYSE:WFC).
Wachovia also said a closing would entitle its 11 executive officers, who include Steel, as well as Chairman Lanty Smith to $2.5 million in equity-based awards under existing stock incentive plans. But the executives' stock options are worthless, the bank said.
The federal trade court judge overseeing the refund process for President Trump’s tariffs ordered the administration...
