Stewart loses bid for new sentence

A federal judge Monday rejected Martha Stewart’s bid to end her five months of house arrest early, calling her sentence “reasonable and appropriate.”

U.S. District Judge Miriam Goldman Cedarbaum said she was not persuaded by Stewart’s claim that the punishment was hurting her business.

Stewart began her five months of house arrest in early March after serving a five-month prison term in West Virginia. She was convicted last year of lying about her sale of stock in a pharmaceutical company.

The judge also brushed aside Stewart’s bid to be allowed to leave her suburban estate 80 hours per week for business. Under the original sentence, she is allowed 48 hours per week.

Wages

AFL-CIO takes aim at Sprint chief’s pay

As part of its campaign against what it views as unreasonably high CEO compensation, the AFL-CIO launched a Web site Monday featuring “case studies” on six company leaders, including Gary Forsee of Sprint Corp.

Forsee, Sprint’s chairman and chief executive officer, was paid $19.5 million in cash, stock and other compensation last year, according to the union.

Securities filings show Forsee received $3.1 million in salary and bonuses last year, $231,000 in miscellaneous other payments, $7.2 million in restricted stock awards and an estimated $8.8 million in stock options. The stock awards are not immediately available and vest over a certain amount of time.

Other company officials mentioned on the Web site, www.paywatch.org, are Amgen Inc. CEO Kevin Sharer, Wal-Mart Inc. CEO H. Lee Scott Jr., Sempra Energy CEO Stephen Baum, Dynegy Inc. CEO Bruce Williamson and Coca-Cola Co. CEO E. Neville Isdell.

Aviation

EU seeks to resolve dispute over subsidies

Despite a missed deadline, the European Union offered Monday to keep negotiating with the United States in an attempt to resolve a dispute over subsidies to the two biggest aircraft makers, Europe’s Airbus and U.S.-based Boeing Co.

“We believe we should pause for further reflection,” said Claude Veron-Reville, EU Commission spokeswoman.

The 25-nation EU has warned that taking legal action at the World Trade Organization risked prolonged trans-Atlantic political tensions and commercial uncertainty for both companies. The dispute centers on aid or subsidies to the aircraft makers and how it distorts the world market for planes. Both sides claim the subsidies cause unfair commercial damage.