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.
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.
November 10, 2004 |
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.
December 24, 2003 |
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.
August 12, 2005 |
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.
January 12, 2002 |
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 has withdrawn a controversial executive compensation plan from the agenda of a bankruptcy court hearing Tuesday and said it's reworking the plan after criticism from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.
July 24, 2010 |
The Obama administration's pay czar on Friday came to the same conclusion about fat Wall Street bonuses that average Americans have already reached: There's no logic behind them, except greed. But he stopped short of demanding a refund of $1.6billion for the most egregious payments handed out to executives by banking firms bailed out by the government during the height of the financial crisis, saying that could invite lawsuits. Still, the findings sparked outrage from some in Congress, renewed calls for reining in Wall Street compensation and raised the prospect of re-energized efforts to impose hefty taxes on such bonuses.
March 1, 2004 |
A year ago, SBC Communications Inc. successfully blocked shareholder resolutions that sought to link executive pay to performance, arguing that the measures would scare away talent and hurt the telecom giant's competitiveness. SBC has since changed its mind and is implementing a new executive compensation system. One reason for the change: independent board director James Henderson. Henderson, the new head of the board's executive compensation committee, decided that shareholders had a point.
November 28, 2004
Regarding "CalPERS to Urge Curbs in Execs' Pay," Nov. 16: It is heartening to have the board of the California Public Employees' Retirement System take an aggressive step to control excessive executive compensation. Its decision to invest in companies that have superior pay-for-performance practices provides a good model that one hopes will be emulated by other boards of directors. This is a proactive way to address the widening pay gap in our nation's corporations, which in many cases has reached scandalous proportions.
June 11, 2003 |
The California Public Employees' Retirement System will vote next week on measures aimed at making sure companies keep shareholder interests in mind when they set executive compensation. The staff of the $138-billion pension fund recommended the measures in an item posted on CalPERS' Web site Monday.