CEO Mark Comerford’s $1.46 million in total compensation in fiscal 2009 was nearly double Francis Petro’s pay the previous
year—even though the company’s revenue dropped 31 percent in the same period.
Indianapolis-based machine toolmaker’s CEO takes 63-percent compensation cut.
Most public companies say they tie executive compensation to performance, but an IBJ review of pay data from 65 Indiana-based
firms shows otherwise. Last year, more than two-thirds of Indiana-based public companies saw their share prices decline, yet
many continued to award eye-popping compensation to their executives.
Former ATA Airlines employees are trying to comb the wreckage of the bankrupt carrier, looking to grab their financial belongings
before managers and lenders cart off what little is left. Pilots and flight attendants are opposing retention bonuses for
managers who will spend the next several months turning out the lights of the 35-year-old carrier.
Eli Lilly and Co. stock has returned just 1 percent per year in the nine years since CEO Sidney Taurel took office. Meanwhile,
Taurel has taken home $44 million in pay and been given stock options valued at $114 million more. But most Lilly shareholders
aren’t raising a call for Taurel to hit the trail.
