|
Median CEO pay rises to $9.7 million in 2012 |
PDF |
| Print | |
E-mail |
|
Written by CHRISTINA REXRODE, AP Business Writer
|
|
Wednesday, 22 May 2013 09:46 |
|
CEO pay has been going one direction for the past three years: up.
The head of a typical large public company made $9.7 million in 2012, a 6.5 percent increase from a year earlier that was aided by a rising stock market, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm.
CEO pay, which fell two years straight during the Great Recession but rose 24 percent in 2010 and 6 percent in 2011, has never been higher.
But the numbers don't tell the whole story. After years of pressure from corporate governance activists unhappy about big payouts, many companies have revamped their compensation formulas. They have awarded a bigger chunk of compensation in stock to align pay more closely to performance, become more transparent about how compensation decisions are made and in some cases promised to claw back pay from fired executives.
Shareholder activists say the changes are a step in the right direction, yet they argue that CEO pay is too high and that there is still too much incentive to focus on short-term results.
|
|
West Virginia's local-food movement a model for Appalachia |
PDF |
| Print | |
E-mail |
|
Written by VICKI SMITH, Associated Press
|
|
Wednesday, 22 May 2013 06:37 |
|
MORGANTOWN, W.Va. (AP) — With eight in 10 farmers making less than $10,000 a year, West Virginia will never rival big Midwestern factory farms in producing food. But creative collaborations with food entrepreneurs are seeding a new kind of economy that federal officials say could become a model for 12 other Appalachian states.
Officials with the Appalachian Regional Commission, the U.S. Department of Agriculture and the U.S. Department of Education are meeting with nearly two dozen groups across West Virginia this week as part of an Appalachian Foodways Tour. It began in North Carolina, hit Mississippi, Alabama and Georgia, and continues next month in Ohio and New York.
In Romney, officials visited a high school where students not only sell and show their pigs but produce sausage for Hampshire County's school cafeterias. In the capital city of Charleston, they'll learn about a program that trains women in business planning, record keeping, and farm and food safety.
And on Wednesday in Philippi, they're seeing how an out-of-business IGA is becoming a new kind of supermarket, one where jams, flowers, baked goods and produce are gathered from dozens of sources and sold at a single cash register.
|
|
|
Weak yen a help for Japan, but headache elsewhere |
PDF |
| Print | |
E-mail |
|
Written by ELAINE KURTENBACH, AP Business Writer
|
|
Wednesday, 22 May 2013 06:39 |
|
TOKYO (AP) — A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan's main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world's third-largest economy. It's not such good news for entrepreneurs like Thamonwan Thawornthaweewong, whose Angry Bird fish balls, squid rings and other products now cost more to sell in Japan.
The yen slipped past 100 to the U.S. dollar earlier this month and is now hovering near 102 yen per dollar — over 20 percent weaker than six months ago versus the U.S. dollar and euro — a level that is giving pause even to Japanese companies and policymakers.
Japan insists the yen has weakened due to extreme monetary easing aimed at breaking out of deflationary stagnation, not because it is trying to make its exports more competitive.
Whether it's intended or not, countries across Asia are seeing their own currencies pushed higher, as their financial markets are flooded with cash pumped out by the Bank of Japan to help double the country's monetary base and hit a 2 percent inflation target.
|
|
Trump says he'd consider investing in Detroit |
PDF |
| Print | |
E-mail |
|
Written by Associated Press
|
|
Wednesday, 22 May 2013 06:36 |
NOVI, Mich. (AP) — Donald Trump says Detroit is "on the right path" and he'd consider investing there.
The billionaire real estate magnate's comments came Tuesday. He was in the suburb of Novi to speak to Oakland County Republicans.
Trump told Republicans at the Lincoln Day Dinner they have a difficult road to win back the White House. He also highlighted efforts of Republican Gov. Rick Snyder to help the state's economy, saying Snyder is "doing a fantastic job" and should win a second term.
Other speakers included Snyder, who encouraged attendees to get excited about the GOP.
Trump is an outspoken critic of President Barack Obama who flirted with a presidential run in 2012, and he recently told The Associated Press his decision against running was a "mistake" because he "would have won."
Copyright 2013 The Associated Press.
|
|