J. Brad McGee, a Tyco spokesman, said the loans were a part of a program to lend executives money to pay taxes on newly granted shares.
Eastman Kodak, E*Trade Group, HealthSouth, Louisiana-Pacific, PepsiCo, Raytheon and Saks International are among dozens of companies that have lent their executives money, according to Executive Compensation Advisory Services.
As a result, Tyco had programs to lend its executives money so they could pay taxes.
For once, Goldman, known for its big paydays, had grabbed the high ground by paying its chief executive less money.
Still, a Universal executive said, "Money makes people do extraordinary things".
While executives may address issues like the risk of having an executive embezzle money, many of them pay little attention to claims related to how employees are treated.
Terry Smith, chief executive of money brokers Tullett Prebon, said: "We will have a crisis of confidence in the credit worth of the UK.
How the Pay Figures Were Calculated TO measure executive compensation, Money & Business studied 200 large public companies that had filed proxies for their 2000 fiscal year by March 27.
Morrissey, the chief executive of money management firm Newton, said she did not want women to start acting like men, but they should be conscious of their language.
Apparently smitten with the deal, Joseph Gasper, president of Nationwide Financial, chipped in another $250,000 of his and another executive's money as an equity investment in the partnership.
