San Antonio-based Biglari Holdings Inc. said late Monday it will delay a planned Aug. 24 shareholder meeting to give the company
time to
address “misinformation” regarding its CEO’s controversial pay package.
Officials say most of the university's nearly 20,000 employees statewide didn't receive any pay increases last year.
Seeing a lack of timely, accurate information about pay and benefits at local not-for-profits, two consultants have launched
an online compensation survey.
Top executives at Indiana's public companies have largely been insulated from the economic crash. IBJ's
review of executive pay found that, although 131 of the 238 executives listed in proxy statements the past two years saw annual
compensation fall in 2009, only 10 experienced cuts of more than $1 million.
Sardar Biglari, chairman and CEO of Biglari Holdings Inc., the Texas-based parent of Steak n Shake, rolled out a hedge-fund-style
compensation plan for himself late last month that could put staggering sums in his pocket.
This month, as you watched the gallant Butler University basketball team uphold the honor of the Hoosier state, did you wonder
about the compensation of college coaches and their future NBA stars?
Robert J. Laikin earned $2.2 million in 2009, nearly 35 percent less than in 2008. Several other members of his management
team also took
substantial pay cuts.
Purdue announced Friday that the new contract gives Matt Painter a $1.3 million base salary, plus up to $1 million of incentives
for academic, athletic and attendance performance.
Butler University basketball coach Brad Stevens has an annual base pay of $350,000 with another $37,851 in benefits and deferred
compensation. Not bad for a 33-year-old. But it’s no comparison to what big-time men’s college basketball coaches make.
The Carmel-based for-profit educator paid CEO Kevin M. Modany $7.6 million in total compensation last year, a 63-percent increase over 2008. And the rest of his management team all enjoyed pay increases of 45 percent or more.
A survey released Monday by the Chronicle of Higher Education showed compensation packages of
chief executives at public universities leveling off in 2008-2009, rising a relatively modest 2.3 percent. How did Indiana
college presidents fare?
Jeff Smulyan agrees to terms on a new three-year contract to lead Emmis. Signing and performance bonuses could lead to big
pay raise.
AIT Laboratories said Monday morning it is awarding another $1 million in bonus money to employees, bringing their total take
in profit sharing this year to an impressive $3 million.
For banks, the last two years have been among the most tumultuous in history. Financial institution CEOs across the country
responded by trimming their raises in 2009. But in Indiana, bank chiefs didn’t follow form.
Some—but not all—not-for-profit executives took pay cuts in 2008, according to the Chronicle of Philanthropy’s
annual salary survey.
Take the money while it’s there. That’s what a handful of insiders at WellPoint Inc. decided in
the past month as they sold off nearly 150,000 company shares for gains of more than $3 million.
While transparency is a stated goal of many corporations, deliberations regarding distribution of shareholder property
to executives are not subject to light of day or to review. Instead, decision-making is camouflaged by
thousands of words that appear substantial but disclose little.
The folks who control executive compensation are often executives themselves. Boards must realize that their self-dealing,
self-benefiting ways are grossly out of line with the true value of one’s contribution to a business and society.
The city’s third-largest law firm is poised to tie the knot with Kentucky’s Greenebaum Doll & McDonald. But differences in the way the firms compensate partners are taking longer than expected to sort out.
An exaggerated share of the nation’s wealth is paid to CEOs of public companies, their minions and directors, through agreements
made inside boardrooms, by highly compensated individuals who commit shareholders’ money and are not subject to effective
oversight.
