January 8, 1995 |
Back in 1991, when the screaming about American executive pay reached its zenith, critics like me hammered away at two major problems: First, we claimed, CEO and other senior executive pay was too high; second, we pointed out, pay was relatively insensitive to corporate performance. Apparently deciding that solving both problems at once was too hard a job, the business community commenced working on the second problem: pay sensitivity.
April 9, 1993 |
Outlining its plan to curb runaway pay for corporate chieftains, the Clinton Administration on Thursday proposed giving shareholders a role in setting executive compensation. But many forms of pay would not be affected by the Administration's policy of denying tax deductions for amounts in excess of $1 million that corporations pay executives. The Treasury Department estimated that the plan would raise about $600 million over five years, compared to the $1.
May 20, 1988 |
CBS Inc. has sued the two top executives of its former record division, CBS Records Group, for allegedly mismanaging funds in the days before the division was sold to Sony Corp. for $2 billion last December. Filed in New York Supreme Court, the CBS suit names Walter Yetnikoff, president and chief executive of the now Sony-owned CBS Records Inc., and Seymour Gartenberg, executive vice president of the company.
February 3, 2001 |
When Northrop Grumman Corp. completes its $3.8-billion purchase of Litton Industries Inc. next month, the biggest beneficiaries may well be Litton's top executives, who could end up with $168 million in compensation. According to a filing with the Securities and Exchange Commission on Thursday, the bulk of the merger-related largess will go to five senior executives at Litton, who could take home $110 million in vested stock options, severance and lump-sum supplemental retirement payments.
June 4, 1995
How the Survey Was Conducted To compute compensation, The Times counts the executive's salary and bonus, the stated value of stock options granted during the year, the value of stock awards, and any long-term or annual compensation--usually listed as "other" compensation in corporate reports but including car allowances, insurance premiums, retirement plan contributions, special consulting or director fees and loan forgiveness and other special arrangements that benefit the executive.
May 29, 1990 |
Keizo Yoshida is the top officer of Sumitomo Bank of California, a big, profitable institution. Yet with an annual pay package worth $210,400, he earns only a fraction of what executives at similar banks take home. Yoshida isn't destitute, of course. But neither is he unique. Even as big money gets all the headlines, a surprising number of top executives are paid relatively modestly.
May 26, 1991 |
It clearly pays to be a top officer of one of California's top corporations, but company insiders often get far more than just a salary, perks and lucrative severance arrangements. In many cases, they are involved in other business arrangements with their firms that can pay off in a big way. Hamburger mogul Carl Karcher, for example, drew a relatively modest $389,169 in cash compensation from Carl Karcher Enterprises last year.
March 18, 2000 |
When Global Crossing Chief Executive Robert Annunziata abruptly left the telecommunications firm a few weeks ago, sources said he was departing with a "generous" severance package. They weren't kidding. Annunziata received more than $160 million in total compensation for 1999, including his salary, bonuses, severance and gains on millions of options for company stock, according to a financial filing made public Friday.
May 14, 1992 |
The nation's charities are asking a new question in the wake of the United Way scandal: how much to pay their chief executives. CEO compensation has been a hot topic lately in the private sector. But questions about executive pay at nonprofit agencies arose after the resignation earlier this year of United Way President William J. Aramony, amid questions about financial matters. His salary was $463,000.
March 31, 1993 |
IBM's new chairman and chief executive, Louis V. Gerstner Jr., could receive up to $8.5 million this year for accepting the challenge of turning around the troubled computer company. Separately, IBM laid off 1,400 employees at two manufacturing plants Tuesday, and continued notifying 1,200 workers of layoffs at a third facility. The layoffs were among the first in IBM's 79-year history.