June 15, 2015 |
This editorial was published on June 14 and updated on June 26. It's a dubious enough distinction that Penn State employed one of only two public university presidents nationwide with a seven-figure compensation package. But the university's budget last year was even more exceptional - and questionable - for including millions in compensation for a former president. Graham Spanier, who was placed on leave in 2012 after being charged in the cover-up of football coach Jerry Sandusky's sex crimes, received a compensation package worth $2.3 million (including a $1.7 million life insurance policy to be paid to his beneficiary upon his death)
November 5, 2013
Episcopal Community Services , a Philadelphia-based human-services agency, elected the following members to its board: Debora Brown , executive director of Family Support Circle; John Daniels , chaplain at Church Farm School; Barbara Kozemchak , an independent market-planning and research professional; Steve Lyons , a partner and chartered financial analyst at Cooke & Bieler; Hillary West , associate rector at St. Thomas' Church...
October 10, 2013
The Securities and Exchange Commission recently proposed a potentially transformative new rule that would require publicly traded companies to compare chief executive compensation with median employee pay. Though the rule was called for in 2010, when Congress passed the Dodd-Frank Consumer Protection and Wall Street Reform Act, corporate lobbyists succeeded in slowing it down until last month, when a divided SEC voted 5-3 for the rule and opened a...
September 30, 2013 |
It is good to be the king. Or queen. How good? Well, Brian L. Roberts earned $25,087,379 in compensation last year as president and chairman of Comcast Corp., according to Equilar, which conducted a survey for The Inquirer of executive compensation at publicly traded area companies. (His compensation was tied to Comcast's stock performance, which rose about 60 percent in 2012.) That figure put Roberts at the top of the heap, locally, and is about 294 times the $85,000 median salary of all Comcast employees, according to the website SalaryList, which says it derived that median figure from government and company reports.
April 22, 2013 |
Comcast Corp. CEO Brian Roberts was compensated $29.1 million in salary, stock options, bonus, pension contributions, and perks such as use of a corporate jet in 2012. That's more than 700 times what the typical U.S. worker earned in 2012, and Roberts, who was third on the list of top-paid Philadelphia-area CEOs last year, could top the list this year. It's a lot of moola. In an era of runaway Hollywood-mogul compensation, though, Roberts' pay package won't even make it to the top five in the entertainment industry, where Comcast has become a powerful economic force.
August 30, 2009 |
With the Comcast Corp. stock price hitting a decade low in the first quarter of 2009, the Philadelphia company's shareholders withheld support for four independent directors who determine Comcast's executive pay and threw more yes votes behind a resolution meant to reduce some of the outsize power of the founding Roberts family. The shareholder resolution to do away with the supersize value of shares owned by chief executive officer Brian Roberts and family trusts received support from 39 percent of the shares voted, up from 30 percent in a similar vote in 2008.
July 31, 2009 |
Top executives of the state's largest health insurers earn millions of dollars in pay a year, but their compensation is comparable with executives in similar jobs, the Pennsylvania Insurance Department said in a report issued yesterday. Independence Blue Cross chief executive officer Joseph A. Frick earned nearly $2.8 million in 2008. Kenneth R. Melani, chief executive of Pittsburgh's Highmark Inc., earned nearly $3.6 million. "Our report concludes that the compensation packages of Highmark and Independence Blue Cross are reasonable under the applicable legal standard," Insurance Commissioner Joel Ario said in a statement.
May 14, 2009 |
Executive-pay restrictions under consideration by the Obama administration that seek to address long-festering problems in the banking sector could cause lasting harm if they prevent banks and other companies from recruiting top talent, say lawyers who focus on the financial-services industry. A proposed overhaul of Wall Street compensation, under discussion among senior administration officials, would give regulators new power to sharply limit pay packages that the government deems encourage excessive risk.
November 9, 2008 |
WHYY is a relatively low-profile station in the world of public broadcasting. It doesn't produce flashy, syndicated television shows like Frontline, from Boston's WGBH, or Nature, from New York's WNET. Among public stations in the top-10 markets, it is in the middle of the pack for budget and staff. WHYY is tops in one category - how much it rewards its chief executive. President and CEO William J. Marrazzo's potential pay, benefits and expenses totaled $740,090 in the year ending June 30, 2007, according to its most recent tax filing.
October 16, 2008 |
WALL STREET is now the beneficiary of the largest government bailout in U.S. history. In the past decade, at the same time that financial engineers were concocting new and exciting financial products, now worth so little that taxpayers have to buy them, the newest standard in Wall Street compensation was being set - the mega-dollar salary. For 25 years, each new peak in Wall Street paychecks set a new standard, which then rippled out all across the country as CEOs and other top managers began pointing to Wall Street salaries to justify increases in their own pay. Consider ex-Secretary of the Treasury Robert Rubin, whose government salary was just under $152,000 when he left office in July 1999.