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Executive Compensation

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.
August 11, 2012 | By Chad Terhune, Los Angeles Times
Nonprofit insurer Blue Shield of California said its outgoing chief executive earned $4.6 million last year, off slightly from a year earlier, as all insurance companies faced new government rules on how customer premiums are spent. Bruce Bodaken, Blue Shield's longtime chairman and chief executive who plans to retire at year end, earned $38,348, or 1%, less than he did in 2010. The San Francisco company declined to comment on the value of Bodaken's retirement pay and benefits or to reveal the pay package of his successor.
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.
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.
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.
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 has withdrawn a controversial executive compensation plan from the agenda of a bankruptcy court hearing Tuesday and said it's reworking the plan after criticism from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.
March 1, 2004 | From Associated Press
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 | From Dow Jones/Associated Press
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.
June 24, 1989
Because of a 30-cent difference with the Democrats, the President has vetoed the minimum wage bill. I am reminded of the Broadway musical "Pajama Game" (circa 1950) in which the union demands "7 1/2 cents." One of the songs points out that "Seven and a half cents doesn't buy a helluva lot." Allowing for inflation since, neither will 30 cents in 1989. Recently The Times carried a list of the 100 top paid executives in California. The average annual compensation was $2.3 million.
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