- Woman sleeping in car accused of attacking Cape officer (7/26/16)13
- Seeking new history: Centurion Development buys former Woolworth building at 1 N. Main St. (7/28/16)5
- Prosecutor says shooting by state trooper was justified (7/24/16)15
- Cape resident gets seven years in prison for shooting at man (7/26/16)1
- Former Scott City mayor refutes claims made about loss of curbside recycling pickup (7/26/16)
- Burglary of trailer leaves its residents homeless (7/27/16)4
- Golden Corral coming to Cape; may hire 100 workers (7/21/16)10
- Police: Child's video revealed stepfather's abuse of sibling (7/28/16)3
- Foot plots provide habitats and nutrition to attract wildlife, grow populations (7/18/16)
- City may spend extra park tax money on Cape Splash, skate park, other projects (7/25/16)10
CEOs of firms with greatest outsourcing got best benefits
WASHINGTON -- Chief executives of U.S. companies that outsourced the greatest number of jobs reaped bigger pay and benefits last year, according to a new study of executive compensation being released Tuesday.
Average CEO compensation at the 50 companies outsourcing the most service jobs rose by 46 percent in 2003 from a year earlier, compared with a 9 percent increase for CEOs at 365 big companies overall, the study by the left-leaning Institute for Policy Studies and United for a Fair Economy found.
Outsourcing of jobs has become a sensitive issue, and President Bush has largely avoided the subject in public appearances during the political campaign. Some of his economic advisers have said that exporting labor to low-cost countries will reduce business costs, boost companies' financial performance and thereby improve the U.S. economy.
The two groups' annual "Executive Excess" report said average CEO pay at the "top 50" outsourcing companies was $10.4 million last year, compared with $8.1 million for the 365 companies.
The study also found that CEOs of the 70 companies that helped finance this summer's Democratic and Republican National Conventions had an average pay increase of 49 percent in 2003, compared with a 9 percent average rise for CEOs overall.
The report noted that after two years of narrowing, the pay gap between CEOs and employees rose again in 2003, to 301:1 from 282:1.
The U.S. job market has been soft, with stagnant wages. Hiring came to a near-standstill last month, with companies adding just 32,000 new jobs overall, surprising economists who had expected seven times as many.
On the Net:
Institute for Policy Studies: http://www.ips-dc.org
United for a Fair Economy: http://www.faireconomy.org