RT @WSJPodcasts: Listen 🎧: Layoffs are spreading more broadly through corporate America, with manufacturer 3M, Dow Chemical and SAP… https://t.co/uXuGjmc919— 1 day 23 hours ago via@theofrancis
China’s top nuclear-weapons lab has regularly bought sophisticated U.S. computer chips in defiance of decades-old U… https://t.co/9VfsJPU7lB— 3 days 4 hours ago via@theofrancis
Great interview on AI, ChatGPT etc. by The Markup’s Julia Angwin, with Princeton’s Arvind Narayanan: https://t.co/02c5o6H6ai— 4 days 5 hours ago via@theofrancis
Before being forced out, Bed Bath & Beyond’s co-founders turned thrift, savvy merchandising & good timing into a co… https://t.co/qaPP1eJhQa— 5 days 3 hours ago via@theofrancis
@footnoted Oh wow. So glad you're all OK. What a nightmare.— 1 week 2 days ago via@theofrancis
At a time when Enron Corp. was cutting back on its employee retirement plans to save money, executive benefits at the energy company kept getting richer.
Enron's bankruptcy may have wiped out most of the retirement savings of most of its workers. But one thing it didn't take away were the pensions of its most senior executives. Financial filings disclose that former Enron Chairman Kenneth Lay, for one, used a private partnership to protect millions of dollars worth of executive pension benefits.
Until recently, executive deferred-compensation plans largely escaped scrutiny by regulators. That changed after Enron Corp. filed for bankruptcy late last year, and court documents showed that some Enron executives had withdrawn millions of dollars from their accounts just before the Chapter 11 filing.
Last year, John R. Stafford, chairman of pharmaceutical giant Wyeth, earned $1.8 million in salary. He also was awarded a $1.97 million bonus, restricted stock valued at $724,283 and 630,000 stock options.
That much shareholders can learn from glancing at the company's proxy.