Word: bonus
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...these executives did not keep up with inflation because they were pushed into higher tax brackets, and much of their raises was taxed away. Last year they did somewhat better. A sampling of proxy statements of 50 major companies shows that their top executives' cash compensation-salary plus bonus-rose by almost 11%, v. a 6% jump for inflation...
...exceptional handful did spectacularly well in 1977, even though their raises were not much. The nation's biggest executive earner was Henry Ford II, chairman of Ford Motor Co. Last week the company announced that his salary and bonus edged up 2%, to $992,000. In all, General Motors Chairman Thomas Murphy earned $975,000, an increase of 2.6% over the year before. Mobil Chairman Rawleigh Warner Jr. got $725,000, up 4% from 1976. (For some other high executive moneymakers, see listing...
...Bonuses have become increasingly important as stock options have lost some of their luster and the top tax rate on "earned" income has been reduced from 70% to 50%. Last year IBM Chairman Frank T. Cary received more in bonuses ($337,000) than in salary ($333,000). American Home Products Chairman William F. Laporte's bonus was exactly half his total income of $770,000, while Augustine R. Marusi, chairman of Borden, Inc., earned a bonus of $271,000 to go with his salary...
...Bonus...
...also condemned the increase. Privately, some officials recalled with approval President Kennedy's crack about the genealogy of steelmen* and made sarcastic, and misleading, references to a fat salary increase that they thought U.S. Steel Chairman Edgar Speer had collected. (In fact, Speer's combined salary and bonus was $372,972 last year, down from...