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Executive Compensation

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BUSINESS
March 11, 1993 | by Rose DeWolf, Daily News Staff Writer
It used to be that nobody even noticed the salaries paid to university presidents. Unlike the corporate world, academia doesn't offer its chief executives any multimillion-dollar stock options. But in recent years, critics are increasingly noticing - and complaining about - campus compensation deals. To cite just a few: Last December, in the midst of a bitter 14-week strike by Drexel University maintenance workers, Teamsters Local 115 president John Morris noted the university's president, Richard D. Breslin, receives $210,000 in salary plus an $86,427 expense account.
BUSINESS
January 18, 2006 | FROM INQUIRER WIRE SERVICES
Federal regulators moved yesterday toward forcing public companies to reveal to investors in "plain English" more information about benefits and perks given to top executives. In a 5-0 vote, the Securities and Exchange Commission proposed the biggest changes in rules governing disclosure of executives' compensation since 1992. The proposal could be adopted by the SEC after a 60-day public-comment period. The proposal, a top priority of SEC Chairman Christopher Cox, would help shareholders compare pay practices at different companies.
BUSINESS
May 9, 2007 | By Henry J. Holcomb INQUIRER STAFF WRITER
Roel C. Campos, the U.S. Securities and Exchange Commission's senior member, coached corporate board members gathered in Philadelphia yesterday on how to avoid costly regulatory and shareholder disputes. His main advice: Talk frequently with major investors. "They don't want to run your company, but they do want to be listened to," he told 100 members of the National Association of Corporate Directors' Philadelphia chapter over breakfast at the top of the Bell Atlantic Tower. About 70 percent of proxy battles, "which are hugely expensive and disruptive," can be avoided with good communication, Campos said.
BUSINESS
June 27, 2004 | By Joseph N. DiStefano INQUIRER STAFF WRITER
Top executives at most Philadelphia companies collected big pay raises as the economy recovered last year, though a few large employers cut their bosses' cash bonuses and stock options in the face of shareholder complaints. As a group, chief executive officers who had run publicly traded companies in the Philadelphia area for at least a year brought home an average of 33 percent more from cash and stock awards last year than in 2002. That is nine times the median worker's raise, according to the U.S. Department of Labor.
BUSINESS
April 10, 2007 | By Linda Loyd INQUIRER STAFF WRITER
Carol A. Ammon, one of the highest-paid executives in the Philadelphia region as CEO of the specialty-pharmaceutical company she started, has decided to retire May 30 as chairwoman of the board of Endo Pharmaceuticals Holdings Inc. The Chadds Ford company said yesterday that Ammon, 56, planned to devote more time to her philanthropic activities and would not seek reelection to the board. Ammon, who began her career as an associate research scientist and became president of U.S. Pharmaceuticals of DuPont Merck Pharmaceuticals Co., was traveling and unavailable for comment.
NEWS
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...
BUSINESS
September 30, 2013 | By Chris Hepp, Inquirer Staff Writer
  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.
NEWS
June 29, 1997 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
Last year was a good time to run a credit card bank. It was a great time to own stock in your own company. And if you did both, you got rich. As Americans boosted credit card borrowing to a record half-trillion dollars, card executives were striking gold of their own. In 1996, card company officers held five of the top 10 slots in The Inquirer's annual survey of executive compensation - including the top three positions. MBNA Corp. president Charles M. Cawley and Advanta Corp.
NEWS
September 26, 2008
Congress yesterday inched closer to a phased-in rescue plan for Wall Street, a hopeful sign for financial markets and the struggling economy, but partisan politics threatened to derail it. The framework crafted by lawmakers doesn't amount to the $700 billion blank check sought by Treasury Secretary Henry Paulson. Instead, the proposal would provide $250 billion immediately to relieve Wall Street firms and banks of their bad debt, with an additional $100 billion to follow. Congress could authorize another $350 billion later if needed, but lawmakers could also deny the additional funds.
BUSINESS
May 14, 2009 | By Chris Mondics INQUIRER STAFF WRITER
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.
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ARTICLES BY DATE
NEWS
June 15, 2015 | Inquirer Editorial Board
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)
BUSINESS
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...
NEWS
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...
BUSINESS
September 30, 2013 | By Chris Hepp, Inquirer Staff Writer
  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.
BUSINESS
April 22, 2013 | By Bob Fernandez, Inquirer Staff Writer
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.
BUSINESS
August 30, 2009 | By Bob Fernandez INQUIRER STAFF WRITER
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.
BUSINESS
July 31, 2009 | By Jane M. Von Bergen INQUIRER STAFF WRITER
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.
BUSINESS
May 14, 2009 | By Chris Mondics INQUIRER STAFF WRITER
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.
NEWS
November 9, 2008 | By Carolyn Davis INQUIRER STAFF WRITER
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.
NEWS
October 16, 2008 | By MARK PRICE
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.
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