Word: perrins
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...have received letters and phone calls from unhappy clients. The firms are vulnerable to such high-pressure tactics because they depend on the companies for much of their overall business, which also includes actuarial services and benefits consulting. Some firms have decided not to take the risk. Towers Perrin says it will no longer help prepare pay surveys for the media. But the bullying isn't likely to silence calls for reform. The Securities and Exchange Commission wants corporations to include more detailed pay data in proxy materials, and the Financial Accounting Standards Board plans to force companies to deduct...
...TMFONT 1 d #666666 d {Source: Towers Perrin; The Wyatt Co.}]CAPTION: THIS SEASON'S BIG BATTLES...
...managing director at Wall Street's Rothschild Inc. "What you're seeing now is a mirror image of the 1980s." Memories of the '80s have left some skeptics doubting whether once high-flying dealmakers really have reformed. "Just when we thought it was safe, they're back again," says Perrin Long, director of research at First of Michigan Corp. "We have to be on guard against the excesses of the 1980s, because a lot of investment bankers haven't learned their lesson. They're still gung-ho, they're still knocking on doors, even though the business isn't there...
...Already making 160 times what average blue-collar employees receive, chiefs of America's largest companies garnered pay hikes last year of 12% to 15% as the economy nose-dived. Some CEO pay packages are so large, says Stephen O'Byrne, a compensation expert at the consulting firm Towers Perrin, that they "represent investment decisions on the order of building a plant...
...find jobs anytime soon. Well before the U.S. slipped into recession last fall, business was downshifting in the wake of the Reagan expansion. Corporations were eliminating slices of middle management and the layers of clerical and professional staff supporting them. Says Roland Stichweh, a senior partner at the Towers, Perrin, Forster & Crosby benefits-consulting firm: "Organizations under stress are finding that they must abandon their traditional sense of loyalty to these employees...