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Bank selects Volunteer Leadership award winner
MARIETTA - Bank of North Georgia recently announced that Mary Karras, senior vice president and community executive, has won the bank's prestigious Volunteer Leadership Award for her commitment and leadership role with The Center for Family Resources. In honor of her achievement, Karras was presented with a commemorative crystal trophy, a gift certificate for a dream getaway vacation and a check made payable to The Center for Family Resources for $1,000.
Karras also serves on the board and the fundraising committee for Friends of the Strand, is the past-president and current member of the board of trustees and nominating committee for the Friends of the East Cobb Park, a current board member of the East Cobb Civitan, current advisory committee member of the YWCA, and is associated with a new non-profit in Cobb County called Hope.
The nomination process for the 2008 Volunteer Leadership Award is well underway with a deadline of Dec. 10. Fellow team members and supervisors may nominate an individual at Bank of North Georgia or a local non-profit organization may nominate a team member who is serving as a board member or in a leadership capacity on a committee.
For more information about the annual Bank of North Georgia Volunteer Awards, call Lauren Muzzy, communications manager, at (770) 751-4779.
Aflac shareholders approve CEO $12M pay
COLUMBUS - Shareholders of health and disability insurer Aflac have approved more than $12 million in compensation for Chairman and Chief Executive Dan Amos in the first stockholder vote on executive pay by a major U.S. company.
Aflac, which sells insurance in the U.S. and Japan, says about 93 percent of the votes approved the 2007 compensation package of the company's top five executives. About 2.5 percent were against it.
The "say on pay" announcement came Monday before a crowd of about 200 attending the annual shareholder meeting at the Columbus Museum.
It was reported two months ago that Amos received nearly $12 million in compensation last year, when the company's stock climbed to all-time highs. Aflac spokeswoman Laura Kane said Monday's vote included retirement benefits not included in the calculation, bringing the total to $14.83 million.
Copper prices jump to record on Chile strike
NEW YORK - Copper prices briefly surged to a new record Monday on supply concerns fed by a mining stoppage in Chile, the world's largest producer of the metal.
Subcontract workers at Chile's state-owned copper giant Codelco went on strike April 16, alleging the company reneged on an agreement that ended a monthlong strike last year. The stoppage has frozen work at two of Codelco's five mines, halting 28 percent of Codelco's total production and 3 percent of global output. A third mine that had been shuttered came back online last week.
"It wasn't expected to be a long-lived strike and it does account for a fairly significant amount of output," said Catherine Virga, base metals analyst with CPM Group in New York.
Copper for July delivery shot up to a record $4.2605 a pound on the New York Mercantile Exchange, before later pulling back to $3.931, up 11.05 cents.
Dollar mixed; gold rises in Europe
LONDON - The U.S. dollar was mixed against other major currencies in European trading Monday.
The euro traded at $1.5514, up from $1.5427 late Friday in New York. Later, in midday trading in New York, the euro fetched $1.5495.
Other dollar rates in Europe, compared with late Friday, included 104.89 Japanese yen, down from 105.30; 1.0516 Swiss francs, up from 1.0494; and 1.0131 Canadian dollars, down from 1.0187.
The British pound was quoted at $1.9721, down from $1.9759.
In midday New York trading, the dollar bought 104.88 yen and 1.0524 Swiss francs, while the pound was worth $1.9711.
London gold and silver markets were closed Monday for a public holiday. They reopen Tuesday. Gold rose $9.10 in Hong Kong to close at 864.40.
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