Word: pensiones
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Comfortably escaping the grind of daily toil should be a pleasure, but for many Americans it isn't even a possibility. Without a pension -- which some 42 million U.S. workers lack -- or adequate savings, retirement could rest on Social Security. Last week Labor Secretary Lynn Martin announced a plan -- dubbed Power, for Pension Opportunities for Workers' Expanded Retirement -- to help the pensionless...
...deserve the 103% raise that jacked his pay up to $11.4 million last year and made him one of America's best-paid executives, even though his company's profits rose just 4%? No way, say furious investors led by the California Public Employees' Retirement System, the largest U.S. pension fund. Calpers, which holds 1.15 million shares of ITT stock, or about 1%, is so steamed over Araskog's raise that it has threatened to vote to oust the company's directors at the annual meeting next week...
...insignificant threat? On the contrary. Institutions like Calpers -- pension funds, insurance companies, money-management firms -- own about 58% of ITT stock and a majority of the shares in dozens of other major U.S. corporations. For decades they have almost always voted for management. If these giants turn activist -- and they are starting to -- they will throw a profound scare into executives and directors, potentially revolutionizing their world...
...performance schemes -- earning more when sales and profits rise and less when they do not -- economists and shareholders are beginning to ask why the boss should be immune to reality. Says Dale Hanson, chief executive of the California Public Employees Retirement System, one of the largest U.S. pension-fund managers: "Our CEOs are being treated like pharaohs. Shareholders are beginning to question who's minding the store...
Hanson's $60 billion pension fund is one of many large institutional shareholders that are vigorously challenging the way CEOs are compensated. Last November Hanson's group filed shareholder petitions demanding that ITT and W.R. Grace change their bylaws to increase the independence of the committees charged with setting compensation for the companies' chiefs...