Word: generous
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Dates: during 1990-1999
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After years of nonstop improvement, German workers are loath to accept any reduction in their comfortable standard of living. They are the most pampered and protected in the industrial world. The average cost to employ a western German worker -- in pay plus such benefits as comprehensive health insurance | and generous pensions -- is about $23 an hour, compared with $15 for an American and $16 for a Japanese. That is for an average workweek of only 37.5 hours. Annual vacation is six weeks, plus at least 11 holidays a year. Educational subsidies and compulsory national service mean that most young people...
...HYATT REGENCY IN Pittsburgh last week, senior managers of the $3.3 billion bank holding company Equimark sat in miserable silence while a shareholder, retired C.P.A. Joseph Cestello, scolded them for their "outrageously generous" compensation, including stock options and hefty retirement pay. Cestello even suggested that the company's board resign "for lack of oversight" and demanded that Equimark, whose losses totaled $148 million in the past two years, adopt policies that would tie pay to performance...
...numbers are breathtaking. The top five American CEOs earned a combined $322 million in income last year. Even departing CEOs managed to walk away with huge sums. Hamish Maxwell, who retired as head of Philip Morris, was awarded a generous retirement gift of $24 million, mainly in stock grants and options. Earlier this year, former Compaq Computer CEO Joseph ("Rod") Canion, who was ousted by his board last year, was awarded $3.6 million. And N.J. Nicholas, the co-CEO at Time Warner who, in February, was also bumped by his board, is expected to land softly with a salary, deferred...
...target of the bill is stock options, which Levin describes as "stealth compensation" because the value of options does not show up on the books of companies as expenses. So long as companies don't have to expense the value of options against earnings, says Levin, executives will be generous about awarding themselves this form...
...magazine also alleged unusually highsalaries and generous stock options for Harkendirectors in year when the company performedpoorly...