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The firms pay as much as 60 percent of their annual revenue in compensation, so much is at stake in how they divvy up their bonus pools.
o In Milwaukee, the county outsourced nearly custodial jobs to MidAmerican Building Services, a for-profit company that slashed compensation so much that many county workers with families could no longer afford to work there.
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"For a remorseful victimizer to ask for forgiveness is the only real compensation for so much pain," he said.
While several top executives named in public filings may have tried to minimize their 2009 compensation after so much populist rage, they could only take this charade so far.
Delphi's creditors were concerned that G.M.'s compensation for providing so much assistance would greatly dilute their stakes.
Its director, Dr. Georges Benjamin, said he thought that vaccinating 500,000 health care workers was "prudent" but that workers' compensation laws varied so much by state that a national policy was needed to protect those being vaccinated.
That's for reasons unrelated to the sequester; basically North Carolina reduced its state-level jobless benefits (which workers go on before qualifying for the later tier of Emergency Unemployment Compensation benefits) by so much that it is no longer legally eligible for the federal extended benefits.
You need look no further than Gary Forsee to see why the absurdities of executive compensation rankle shareholders so much.
A side note: part of the reason executive compensation has risen so much is that so many of these companies are run top-down where the execs are making the vast majority of the important decisions.
Sonnenfeld cites not only Feinberg's crisp rules that do away with camouflaged payment, like perks and deferred compensation, but also the way so much of the compensation — the salarized stock, which was typically more than 80 percent of these packages — is delayed and depends on long-term results.
Investors have dashed into property in recent years because of attractive yields; those yields no longer offer quite so much compensation for risk.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com