Word: compensationitis
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For the second-tier companies that want government money, there's a golden-parachute limit of a year's compensation. The $500,000 pay and restricted-stock limits still apply, but shareholders (not a friendly constituency these days) can waive them in a nonbinding advisory vote, and management can act...
In an effort to carve some of the excess behavior out of the system, companies that take TARP will be required to create an internal panel on "luxury" purchases, the definition of luxury - a jet, fancy office or glitzy sales conference? - being left vague under the "you know it when...
It goes without saying that, in times like these, the issue of executive compensation is indeed a touchy one. Early this year, the world was shocked to learn that many of Wall Street’s besieged “masters of the universe” had still pocketed vast...
The financial industry generally compensates its employees very lucratively, and it is naïve to assume that HMC should behave in any other way. Unless Harvard keeps pace, its top-caliber financial professionals might seek other jobs, leaving positions to be filled by less talented individuals. This same class...
While HMC pays top managers large bonuses, in the long term those officials more than justify their compensations by generating impressive endowment returns. Between 1995 and 2005, for instance, Harvard’s endowment garnered an annualized return of no less than 15.9 percent, which amounts to much more than...