Executive Compensation
Our newest issue category, controversies arising from ballooning executive compensation packages are popping up from Texas to Seoul. CEOs are pulling down hundreds or millions in bonuses while their companies' stock prices tumble, workers get laid off, and pension plans get slashed.
News Articles
| UK: GlaxoSmithKline chief's pay package more than doubles to £6.7m by Jill Treanor, The Guardian (UK) March 12th, 2012 GlaxoSmithKline boss Sir Andrew Witty's pay package more than doubled to £6.7m last year – but the drugs group reckons he remains underpaid and has awarded him a new deal which could generate up to £10.4m this year. |
| WORLD: Top Hedge Fund Managers Took Home $13 billion In 2011 by Sam Forgione, Reuters March 1st, 2012 The top 40 highest-earning hedge fund managers took home a combined $13.2 billion, according to a Forbes magazine survey. The top 10 hedge fund managers made more than $200 million each, while the lowest earning managers made $40 million each. |
| US: Banks Set for Record Pay by STEPHEN GROCER, Wall Street Journal January 14th, 2010 Major U.S. banks and securities firms are on pace to pay their people about $145 billion for 2009, a record sum that indicates how compensation is climbing despite fury over Wall Street's pay culture. |
| US: So You Squandered Billions --- Take Another Whack At It by Steven Perlstein, Washington Post September 2nd, 2009 During the heyday of the credit bubble, they were the financiers who earned huge bonuses for creating, trading and investing other people's money in those complex securities that resulted in trillions of dollars in losses and brought global financial markets to their knees. Now they're out there again hustling for investors and hoping to make another score buying and trading the same securities. |
| US: House votes to rein in ‘excessive pay’ for company execs by Gail Russell Chaddock, Christian Science Monitor July 31st, 2009 On Friday the U.S. House of Representativs passed a high-visibility bill to give shareholders and federal regulators a stronger hand in curbing excessive or risky executive compensation. Industry groups such as the National Association of Manufacturers opposed the bill as an overreach into private business decisions. |