Mohawk's gains boost CEO's pay and other business briefs

Mohawk's gains boost CEO's pay and other business briefs

April 5th, 2011 by Staff Report in Business Around the Region

Melissa Kernea prepares to pick up a load of yarn off of a conveyor belt at Mohawk Industries, Inc. in Dalton, Ga., in this file photo.

Photo by Staff File Photo /Times Free Press.

With Mohawk Industries back in the black last year after two years of losses, company CEO Jeff Lorberbaum was paid nearly $2.2 million in 2010 - up more than 46 percent from the previous year.

In a notice of Mohawk's annual meeting scheduled for May 11, Mohawk Industries said it paid Lorberbaum, who resides in Chattanooga, a salary of $990,000, incentive bonuses of $816,000 and stock awards of $312,016 during 2010.

The carpet manufacturer paid Lorberbaum just under $1.5 million in total compensation in 2009.

Rome metals firm closure costing 67 jobs

General Aluminum, a Cleveland, Ohio-based company that acquired the former Rome Die Casting Co. in Rome, Ga., has given notice that it is closing the plant and laying off its 67 employees.

In a worker adjustment and retraining notification letter to the Georgia Department of Labor, General Aluminum said half of the plant staff was laid off last week and that the remainder will be laid off by month's end.