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Martha Stewart takes a pay cut

Stewart takes a pay cut

Martha Stewart has agreed to have her annual pay cut by 10 percent as the company she created struggles to curtail losses amid a shift from publishing and TV. Martha Stewart Living Omnimedia Inc. changed the compensation to $1.8 million for its 71-year-old chairman as part of an option in a July 2012 agreement that extended her employment until 2017, according to a filing Wednesday. Her annual license fee was also trimmed, and the board replaced an old expense policy that reimbursed her for chauffeur, Internet, and home-security services. In the past year, the New York-based company has suffered from slumping advertising sales at its magazines and declining broadcasting revenue following the cancellation of ‘‘The Martha Stewart Show.’’ (Bloomberg)

Kids get ‘state dinner’

Junior chefs from across the nation touting their best recipes will meet at the White House next week for the second kids’ ‘‘state dinner.’’ Michelle Obama will welcome 54 children on July 9 for creating winning recipes as part of a healthy lunch contest. The youngsters will dine on some of the dishes at their ‘‘state dinner’’ luncheon and tour the White House vegetable garden. ‘‘The X Factor’’ alum singer Rachel Crow will also perform. Some of the winning recipes include sushi salad, sweet potato turkey sliders, hidden veggie lasagna, salmon fried rice, garden stir-fry, chicken masala wraps, and confetti spring rolls. More than 1,300 children 8 to 12 entered the Healthy Lunchtime Challenge. (AP)

Lovato calls off in Philly

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Demi Lovato is a no-go for Philadelphia’s Fourth of July show. City officials say Lovato has canceled her appearance at Thursday’s annual free concert because of strep throat. She’s being replaced on the bill by country singer Hunter Hayes. Lovato tweeted Wednesday that ‘‘I can’t sleep cause my throat hurts!!!’’ The city’s annual Independence Day concert will also feature John Mayer, Ne-Yo, and J. Cole along with hometown hosts the Roots. Other performers will include Philadelphia-born singer Jill Scott, Vermont’s Grace Potter, and Ben Taylor. (AP)

Onassis yacht for $32.4m

You get the ship, and you get a slice of history too. A mega-yacht that belonged to the late Greek shipping magnate Aristotle Onassis is up for sale with an asking price of 25 million euros ($32.4 million). Yacht broker Nicholas Edmiston said Wednesday that he believes there are about 10 people in the world who might be interested in buying the Christina O. The 325-foot vessel’s guest list is impressive. John F. Kennedy first met Winston Churchill at the ship’s bar in 1957, and other prominent guests included Grace Kelly, who had her wedding reception on board, Frank Sinatra, Marilyn Monroe, Elizabeth Taylor, and Richard Burton. Jacqueline Kennedy Onassis was also a frequent passenger, of course. (AP)

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