November 30, 2008

Many want pay based more on performance

Source: Fort Wayne Journal Gazette - IN

In 2007, as their companies started to falter, many executives were getting increases to compensation packages that already paid more in a day than most Americans make all year.

November 26, 2008

CEO Paydays Likely Trimmed in Bailout Bid

Source: Newsweek

Members of Congress who oppose the bailout of the auto industry partly on the grounds that the CEOs of Detroit automakers have been making too much money and aren’t willing to make sacrifices in order to get tax-payer funded...

November 25, 2008

AIG CEO Liddy to get $1 salary through 2009

Source: MarketWatch

American International Group Inc. (AIG:American International Group, Inc

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November 25, 2008

Citi soars, but reactions are mixed on U.S. plan

Source: MarketWatch

Washington's latest Hail Mary attempt to support a battered banking system lifted Citigroup Inc. shares more than 50% on Monday, and drew kudos from those who see the effort as setting a new industry framework, as well as...

November 24, 2008

Proxy Firm Targets Practice of Paying Executives' Tax Bills

Source: The Wall Street Journal

In the latest move to curb executive-pay excesses, an influential proxy-advisory firm is cracking down on the common but controversial practice of footing big tax bills for executives.

RiskMetrics Group says it will advise...

November 23, 2008

Presidents of Colleges Give Back Some Pay

Source: New York Times

In the week since The Chronicle of Higher Education published its annual survey of university presidents’ pay — a week in which the nation’s economic troubles worsened — several of the highest-paid presidents said that they would...

November 22, 2008

Bank Executive Compensation: Payback

Source: CFO Magazine

"The villagers are at the gates of the castle with burning torches," says one compensation consultant. The sheer amount that bankers are paid riles people at the best of times. When the economy is ravaged and the source of the...

November 21, 2008

Nationwide CEO to Get $24 Million as Customers Pay Merger Tab

Source: Bloomberg.com

William ``Jerry'' Jurgensen, chief executive officer of Nationwide Mutual Insurance Co., is in line for a $23.5 million payout when his firm buys out shareholders of its retirement-savings subsidiary.

November 20, 2008

S&P 500 Board Compensation Averages More Than $2 Million per Company

Source: MarketWatch

S&P 500 index companies spent an average of more than $2 million on board compensation last year according to preliminary findings of a director pay survey by The Corporate Library, now in its tenth year as a fully independent...

November 18, 2008

Aflac chief passes up golden parachute

Source: Cox News Service

Aflac Chairman and CEO Daniel P. Amos announced Friday he is giving up his $13 million "golden parachute" — or severance package he would receive were he to leave to company — in response to the current global economic crisis....