Friday, April 25, 2003

Shared Sacrifice [Chron]
By some estimates, investors have lost $7 trillion on paper since the stock market peaked in March 2000. Meanwhile, the nation's unemployment rate rose from 4.7 percent in 2001 to 5.8 percent in 2002, swelling the jobless ranks by another 1.6 million people.

The setbacks haven't significantly changed the overall pay of chief executive officers, although corporate boards have said they want compensation packages to parallel the ups and downs of the stock market.

The mid-range CEO salary and bonus rose to $1.8 million in 2002, a 10 percent improvement from 2001, according to a survey of executive compensation at 350 large publicly held companies conducted by Mercer Human Resource Consulting.

"The goose that has been laying all those golden eggs still hasn't been butchered," said Bruce Ellig, author of "The Complete Guide to Executive Compensation."

More class war from the AFL-CIO.


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