Word: compensationitis
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• Despite her extensive knowledge of the system, she ran afoul of the IRS in 2005 when it placed a $946 tax lien on her home, accusing her of failing to pay unemployment compensation tax for her household employees. Killefer was cleared shortly thereafter.
This latter practice is now under intense scrutiny. Several big banking firms have announced that their top dogs will get no bonuses this year and that their future compensation will be structured to allow clawbacks of gains from bets that turn bad. It's not yet a sea change, though...
"It only applies to senior executives, by and large, and those aren't the people who lost all the money," says Alan Johnson, a compensation consultant specializing in financial services. Bringing clawbacks down into the ranks of traders and investment bankers would be almost impossibly complicated, he contends. That, and...
Passengers' Rights. Score another point for European travelers. The European Court of Justice recently ruled that airlines must compensate travelers when flights are canceled due to technical problems. Previously, airlines had claimed that technical problems were "extraordinary circumstances" for which passenger compensation was not warranted. But the court found that...
El-Arian served as HMC’s endowment chief from February 2006 through December 2007, before stepping down to return to the California-based Pacific Investment Management Company, where he previously served as a managing director. He was replaced by Robert S. Kaplan, a management professor at Harvard Business...