Executives from large corporations are not being held accountable when they break the law, according to Brandon Garrett, author of "Too Big to Jail".» Read More
The House of Representatives Wednesday is likely to vote on a bill that will have an indirect effect on executive pay. The proposed legislation, known as the Shareholder Vote on Executive Compensation Act, is being spearheaded by Rep. Barney Frank (D-Mass), who is also chairman of the powerful House Financial Services Committee.
Apple CEO Steve Jobs received a salary of $1 last year, which is unchanged from his 2004 and 2005 salary, according to a filing with the Securities and Exchange Commission
The SEC’s campaign to ensure more disclosure of executive pay seems to be bringing more confusion than clarity this proxy season, CNBC's Mary Thompson reports. The new Compensation, Discussion and Analysis (CD&A) section, which averages about 5,000 words or nine pages, is meant to help shareholders. But experts say sifting through the new data is challenging and investors still don’t get all the information they need.
At Morgan Stanley, which held its annual meeting in Purchase, N.Y., 37% of shares were voted in favor of "say on pay." The proposal fared better at Bank of New York, where 47.3% supported the measure.
Some pro sports leagues have enacted pay caps to ease fans' concerns. So if a chief executive's compensation strikes investors as too far out of whack, should the corporate world consider the same measure? Charles Elson, director of the Weinberg Center for Corporate Governance at the University of Delaware, votes yea. Contradicting him is Alan Murray, assistant managing editor at The Wall Street Journal. The two stated their cases to CNBC's Erin Burnett.
The AFL-CIO, the largest U.S. union federation, is targeting Verizon Communications in a campaign against high executive pay, and will vote against the company's compensation committee at the company's May 3 annual meeting.
A new study of CEO homes shows a connection between the size of the home and the company's stock performance. In this case more means less for shareholders.
At KB Home's annual meeting on Friday, the preliminary tally showed shareholders approved two proposals management had opposed. This is unusual as shareholder proposals rarely receive a majority of votes.
Ford Motor, which posted a loss of $12.7 billion last year, said Chief Executive Alan Mulally received $28.18 million compensation in 2006, including an $18.5 million bonus.
The median pay for chief executive officers in 2006 rose 9.3% from the prior year, marking the second consecutive year of slowed compensation growth, according to a preliminary survey of CEO compensation released on Monday.
News that Glenn Tilton, chief executive of UAL, earned $39.7 million in 2006 drew an angry protest from workers at UAL's United Airlines on Tuesday, with unions demanding their "fair share."
For the first time since 2003, General Motors is giving bonuses in the form of stock to Chairman and Chief Executive Rick Wagoner and other top executives.
About 39,000 Delta employees will share $480 million in lump-sum payouts and equity in the company when the nation's third-largest carrier emerges from Chapter 11 protection in May, according to material to be disclosed in a bankruptcy court filing Tuesday.
John Antioco has been under pressure from board members, including billionaire investor Carl Icahn, who once called Antioco's $54 million severance package "unconscionable."
Chevron Chairman David O'Reilly received a 2006 compensation package valued at $13.5 million for steering the oil company to a record profit while many motorists and politicians were angry about soaring energy prices.
The chief executive of Merck received compensation the company valued at $8.04 million last year, according to a regulatory filing Monday.
A bill that would give shareholders the right to cast non-binding votes on executive pay sparked sharp comments Thursday at a subcommittee hearing in Washington.
Congress is considering a bill that would give shareholders the right to cast non-binding votes on executive pay and "golden parachutes" if the enterprise is sold. Opponents say the measure, HR 1257, would force CEOs to devote more time to meeting with advocacy groups and less time on planning and product development. Supporters say that unless pay is tied to performance, executives have incentive to cook the books.
What many see as outrageous or obscene compensation for chief executive officers is back in the limelight after some high profile pay packages lately. The House Financial Services Committee Thursday holds a public hearing on the issue and the hue and cry about greed and abuse is bound to bounce off the walls of Congress. The contrarian view is that there is little or no direct link between pay and performance and coupling the two might be detrimental because CEOs would cut corners to boost their pay, eroding the company’s long-term prospects.
The composition of the board of directors at major companies is changing and becoming less clubby. On "Squawk Box" CNBC's Mary Thompson says there’s no shortage of candidates to serve on corporate boards, but they’re now drawn from a different talent pool. In 2001, about half board members were active CEOs. Last year, the figure declined to 29%.