Word: bonus
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...should TIME react to such a richness of events? The magazine's answer: a "bonus" for TIME'S readers of up to 100 color-filled extra pages of editorial content specifically directed to 1984's very special demands. With these additional capabilities, which will cost nearly $2 million, TIME will be taking an unprecedented step toward giving its readers the dramatic detail and pictorial splendor that are a vital part of the events that define our interests and shape our times. TIME'S new bonus approach to big news will be used for two Winter Olympics...
TIME begins its bonus coverage this week with a special report on the Winter Olympics, a 24-page section-more than double the length of the average TIME cover-on the men and women who will compete for the U.S. in the first Olympics...
While he was developing Mac, Jobs, who became Apple's chairman in 1981, was looking for a new president to guide the company. He ultimately recruited John Sculley, 44, from PepsiCo with a salary and bonus package worth $2 million. Sculley soon began putting some order in the Apple crate. He started by easing out six of the firm's 15 senior executives. Two officials pictured in the company's annual report, which was mailed out only last month, no longer hold the same positions. Sculley, who often lapses into M.B.A.-speak, describes his pruning...
...shareholders by trying to limit their questions to management at annual meetings. He infuriated the United Auto Workers in 1982 when he became involved in pay negotiations. After Smith repeatedly complained that workers were overpaid and cost cutting was needed to regain a competitive position, GM announced a richer bonus plan for top executives on the very day that the union signed a contract accepting wage concessions. Admitted Smith afterward: "I'd rather it hadn't happened...
Detroit automakers did not have bonuses under their Christmas trees, but big ones are on the way. Beginning this spring, the Big Three automakers will give executives their first bonus checks since 1979. General Motors, Ford and Chrysler expect record total profits of about $6.5 billion in 1983, a more than 13-fold increase from $475 million in 1982. At present, many auto executives are taking home less than they earned five years ago. GM Chairman Roger Smith, for example, made $548,634 last year, compared with a salary of $240,000 and a bonus...