Ambac Financial Group Inc (AMBC)

[lexi2004]

I bought some at 1.06 then it dropped to 1.04. This news came out in AHs...

Ambac Fincl Chm To Get $975,000 Cash Bonus For 08 >ABKLast update: 2/2/2009 4:55:34 PMDOW JONES NEWSWIRES Ambac Financial Group Inc. (ABK) said Monday that Chairman Michael A. Callen will receive a $975,000 cash bonus for 2008. The company, in a filing with the Securities and Exchange Commission, also said that Chief Financial Officer Sean T. Leonard will receive a $950,000 cash bonus. Executive Vice President Douglas C. Renfield-Miller will receive a $550,000 bonus and Chief Executive David W. Wallis will receive a $500,000 bonus. The company said in granting the cash bonus awards, the board of directors considered Ambac's performance during 2008, the performance of each individual executive and the overall economic environment. The company also said that it has raised Leonard's 2009 salary to $550,000 and raised Renfield-Miller's salary to $600,000, according to the filing. In February 2008, Ambac increased Leonard's salary to $380,000 and Renfield-Miller's salary to $300,000. Shares of the New York-based company closed Monday at $1.04, down 8.77%. -Brian Kalish; Dow Jones Newswires; 202-862-1350; [e-mail] (END) Dow Jones NewswiresFebruary 02, 2009 16:55 ET (21:55 GMT)