06.12.2009
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| Why execs' fat perks roll on
Quote: The worst recession in decades hit hard last year and had Americans stripping budgets to the bare bones. Forget new cars, expensive trips, new wardrobes.
But for the folks at the top of corporate America, the perks rolled on.
"We haven't noticed a significant decline in either the cost of perks or the number of perks being provided," says Paul Hodgson, who tracks executive-compensation issues for the Corporate Library. "What continues to surprise the most is that greater disclosure has not imbued boards with a greater sense of shame for what they pay for."
We're talking about corporate CEOs who earned, on average, $10.8 million last year at 198 large companies with revenue of at least $6.3 billion, according to the compensation experts at Equilar. And about perks trickling down to top deputies paid nearly as well.
But while the market (and many of their employers' stocks) fell apart in 2008, many of these execs still didn't even have to open their wallets to enjoy the high life. | http://articles.moneycentral.msn.com...s-roll-on.aspx |
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