CEO pay at U.S. companies has taken off again
Perks: planes, tax help and more Aside from the money and the stock, some major executives do very well just in the fringe benefits they're awarded.
ITT Corp. CEO Steven R. Loranger in 2010 received $315,000 worth of such perquisites, including $153,000 worth of personal use of corporate aircraft, $63,000 worth of financial counseling and $37,746 in tax reimbursements to offset the taxable value of other benefits he got, such as the financial counseling.
Aircraft use was also a major fringe benefit for Newell Rubbermaid CEO Mark D. Ketchum in 2010 as he received $371,314 worth of private use of company aircraft.
Xerox Corp. CEO Ursula M. Burns received more than $272,000 in dividend equivalents on unvested stock shares and on shares for which she deferred receipt under a company incentive program. And Xerox Global Customer Operations President Armando Zagalo de Lima received more than $1.1 million in retirement contributions, housing allowance and reimbursement for the Portuguese taxes that weren't deducted from his paycheck that he will have to pay as an expatriate citizen of Portugal.
JPMorgan Chase & Co. CEO James Dimon received $580,000 in such fringe benefits, including $421,458 in moving expenses as he relocated from Chicago to New York City.
Some fringe benefits, such as country club memberships and tax gross-ups, in which companies also paid the taxes on parts of an executive's income, are disappearing, said Kevin Hallock, chairman of Cornell University's Institute for Compensation Studies.
Eastman Kodak Co. as of 2010 instituted a new perks policy that caps private use of corporate aircraft at $100,000 anything beyond that and the executive will have to reimburse the company.
Total wages earned in the nine-county Rochester/Finger Lakes region for the first nine months of the year were up 2.2 percent over the same period in 2009, according to state Labor Department figures. That's a welcome bit of thawing after the freezes and pay cuts that came with the recession.
At United Technologies Corp., which owns the Lenel Systems International security systems and software firm in Perinton, CEO Louis Chenevert saw his salary jump 11 percent in 2010 to nearly $1.6 million. His $4 million cash bonus based on yardsticks such as the company's earnings was a $2.3 million improvement from 2009. Chenevert's pay totaled $7.3 million.
International Worker Compensation Law - News
Combined, they have roughly $39 billion invested in international securities. The Ohio Bureau of Workers' Compensation hasn't held international investments since it was hit by a 2005 scandal, but Mandel said he'd like to know if exchange rates were
About Mitchell Workers' Compensation Solutions Division Mitchell Workers' Compensation Solutions (WCS), a division of Mitchell International, is a market leading provider of workers' compensation cost containment technologies and services.
Hoffman is accused of fraudulently billing the City of Los Angeles and 19 insurance companies including Berkshire Hathaway Homestate Companies, California State Compensation Insurance Fund, Chartis division of American International Group,
Bob Devereaux has joined the Illinois Workers' Compensation Commission as Fraud Prevention and Efficiency Controller. He comes to the Commission from the private sector where he has held a variety of positions in accounting, finance, operations,
For risk managers such as Donald Sullivan, vp of risk management for Baxter International Inc. in Deerfield, Ill., the impact of the bill on workers comp insurance rates and costs has yet to be discovered. Mr. Sullivan said he and members of his
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Foreign exchange (or “forex”) can provide a rich source of revenue for American banks, particularly custodial banks, which can profit not only from buying international stocks and bonds for pension funds and other investors, but also on trading dollars into other currencies. Overall, foreign exchange generates an average daily volume of $4 trillion. After practicing workers' compensation law for nearly 18 years, I founded and grew WorkCompCentral into the most respected news and education service in the workers' compensation industry. I am a regular public speaker on workers' compensation to industry trade shows, educational seminars, radio and television, and have been quoted or cited in general media publications such as Fortune Magazine, the LA Times and Wall Street Journal. I have been published in leading industry journals and scholarly publications on topics ranging from the underlying financial issues that led to an historic makeover of the California workers' compensation system, to the new paradigm in work injury protection and national trends in the workers' compensation industry.
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[edit] Workers' Compensation law in the United States. At the turn of the 19th century workers' compensation laws were voluntary for a couple of reasons. ...
Workers' Compensation
Unfortunately, because workers' compensation laws did not exist at this time, only tort actions against an employer or co-employee allowed an injured employee to ...
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