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Executive Compensation

BUSINESS
May 29, 1994
Executive compensation consultants Pearl Meyer & Partners say chief executives got a meager 1% raise in 1993, the smallest in years. Still, their pay wasn't exactly paltry. The average CEO earned $3.45 million in salary, bonus, long-term incentives and the present value of stock options granted, according to the firm. And total executive pay has risen 22% since 1990.
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OPINION
May 2, 2012
Re "Tuition costs prompt hunger strikes," April 29 California State University spokesman Mike Uhlenkamp says the students planning hunger strikes to protest excessive executive compensation don't understand the issues. It is the university that seems not to understand the issues. I am a Cal State faculty member, and as such it is important to me that people understand that the university leadership does not represent the thousands of faculty and staff of Cal State. We stand with the students against excessive executive compensation.
BUSINESS
April 18, 2012 | By E. Scott Reckard, Los Angeles Times
The shareholder rejection of Citigroup Inc. Chief Executive Vikram Pandit's $15-million pay package has some on Wall Street wondering if the same fate might be in store for the heads of other big U.S. banks. Both Wells Fargo & Co. and Bank of America Corp. will ask shareholders in the coming weeks to vote on a "say on pay" proposal. Corporate governance experts and activist shareholders expect that these votes will capture even more attention now that Citi's shareholders have said they want Pandit's compensation to be dialed back.
BUSINESS
April 27, 2012 | By Walter Hamilton, Jim Puzzanghera and Andrew Tangel, Los Angeles Times
Calls for reforming Wall Street pay packages reverberated across Washington and the financial district following the disclosure that 50 Lehman Bros. employees were awarded nearly $700 million in the year before the investment bank collapsed. Lawmakers and other experts said disclosure at major banks and other financial institutions should be beefed up significantly, in part to spotlight potential risks that employees may be taking in their pursuit of super-sized paychecks. The Times reported Friday that dozens of lesser-known traders and others at Lehman were allotted pay ranging from $8.2 million to $51.3 million in 2007, including one person who earned more than the chief executive and 42 people who were awarded at least $10 million.
BUSINESS
November 10, 2004 | From Bloomberg News
Walt Disney Co. directors rejected Michael Ovitz's request for a $50-million signing bonus as part of his 1995 agreement to join the company as its second in command, an executive compensation expert testified Tuesday. Graef "Bud" Crystal, who advised Disney's board about executives' pay packages starting in 1984, told Delaware Chancery Court Judge William B.
BUSINESS
December 24, 2003 | From Associated Press
Delta Air Lines Inc. is canceling executive bonuses for this year and reconsidering its compensation program for high-ranking officials as it works to allay lingering employee resentment over lavish pay and perks for top executives. The moves come as the airline seeks salary cuts from its pilots. Incoming Chief Executive Gerald Grinstein said in a memo to Delta employees that he realized executive compensation was a controversial issue at the company.
BUSINESS
August 12, 2005 | From Bloomberg News
Securities and Exchange Commission Chairman Christopher Cox said investors should have better access to data on executive pay packages so they could make comparisons among companies.
BUSINESS
January 12, 2002 | Associated Press
Polaroid Corp. has withdrawn a controversial executive compensation plan from the agenda of a bankruptcy court hearing Tuesday and said it's reworking the plan after criticism from retirees and workers. Polaroid had indicated it would revise the plan after a bankruptcy judge postponed consideration of all but $1.55 million in payments during a December hearing. The original package could have provided more than $5 million to top executives.
CALIFORNIA | LOCAL
January 23, 2014 | By Larry Gordon
SAN FRANCISCO - The UC regents on Thursday hired an executive of a Canadian investment fund to be the chief manager of the university system's $82 billion in endowment and pension investments and will pay him more than $1 million a year if he achieves good returns. Although that pay package triggered little public discussion, the salary for another new executive hire attracted more opposition at the regents meeting here. Some regents opposed the $450,000-a-year salary for Claude Steele, who is becoming UC Berkeley's provost and second-in-command.
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