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...compensating executives: something he calls salary stock. Each pay period, the executives at Bank of America, GM and the other firms will get awards of stock along with their regular paychecks. The checks can be cashed immediately, but the executives may not sell the stock for up to four years. Also, bonuses are paid in restricted stock, which must be held for at least three years and may be sold only after the firm has repaid what it owes taxpayers. The result is that in most cases, much of what the executives will get paid - in some instances, nearly...
...decision to spend a year in Detroit looking at the city's and region's challenges and efforts at revitalization [Oct. 5]. However, I find it curious that you start intensive research into the city with an opinion piece by a resident of New York who left Michigan four decades ago. With all due respect to the acclaimed Daniel Okrent, simply reciting old grievances repeatedly rejected by voters, such as my having "resisted ... more stringent mileage standards," seems counterintuitive to the magazine's mission. I would ask that Okrent take another look at my work and the record, including...
China's economy is more than twice the size of India's, and Indian officials are sensitive about the gap. When the two armies hold twice-yearly meetings on the border in Arunachal, the Indian officers arrive in powerful four-wheel-drive vehicles, which are required for climbing the rough mountain roads on the Indian side of the border. Their Chinese counterparts cruise up the smooth highways on the other side in luxury sedans - a detail that Indian-army officers privately admit pains them. In 1962 it was China's superior roads and bridges that allowed its army to move...
...back to ancient Greece. Plato recommended that a community's highest wage should not exceed five times its lowest. By the late 1890s, the banker J.P. Morgan had increased it to 20 times the average. The Securities and Exchange Commission enacted strict executive-compensation-disclosure laws in 1938, but four years after that, the New York Times denounced President Franklin Roosevelt's attempt to cap Americans' pay at $25,000 (about $331,000 today) as a ploy to "level down from the top"; Congress rebuffed...
...Tyranny of E-Mail: The Four-Thousand-Year Journey to Your Inbox...