TITLE

Recon

PUB. DATE
November 2005
SOURCE
Mother Jones;Nov2005, Vol. 30 Issue 6, p18
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article discusses the compensation package given to top executives in the U.S. In 2004, the average salary for top CEO was $11.8 million, 431 times that of the average worker. Chief executives in the struggling automobile industry have a median income of $4.2 million, up 72% from 2003. Among companies where execs get 92% or more of their pay in stock-option gains, about one-fifth will cook the books within five years. Costco's $16-an-hour starting wage--two-thirds more than Wal-Mart's average wage--has been criticized by Wall Street analysts as overly generous. In 1997, Delta Air Lines agreed to pay its departing CEO a $500,000 annual consulting salary for eight years, on top of $4.5 million in severance, a company car, private-club dues, and a secretary.
ACCESSION #
18746036

 

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