Prior to his “retirement” as CEO of Wells Fargo, John Stumpf said he would forgo his salary and bonus for 2016 as penance for the bank’s fake account fiasco. Now, fast forward several months, and the bank’s board has decided to take away millions in extra money that was supposed to go to new CEO Tim Sloan and other top executives. [More]
General Motors announced this morning that it will permanently lay off nearly 2,100 U.S. auto workers in the coming months. Why? Apparently because drivers are buying fewer smaller cars. [More]
For years, regional airlines, government agencies, and pilot groups have warned that new regulations, higher costs of school, and lower salaries had led to a shortage of pilots that could affect the number of flights smaller carriers are able to offer. It now appears that this scarcity of youngsters hoping to someday take flight could result in airlines beginning to run out of pilot in as few as three years. [More]
Working more than 40 hours a week but not getting paid overtime because you make too much already? If so, you might soon be pocketing more dough for your extra hours under newly proposed federal regulations that raise the threshold income level at which workers are exempt from overtime pay of time-and-a-half wages. [More]
BusinessWeek has an interesting article about the economics of regional airlines — the smaller companies that are subcontracted to operate the less profitable routes for major airlines. Some were stunned to find out that first officer on the flight that crashed in Buffalo, NY only made $23,900 a year. Is this too little?
The New York Times has an article discussing Congressional proposals to limit executive pay. Although the financial industry may deserve a pay cap, the author argues, other industries would be harmed by a cap.
Verizon will deign to consider an advisory vote on executive compensation from shareholders starting in 2009. Shareholders demanded the right to vote on executive pay at last year’s annual meeting. Verizon CEO Ivan Seidenberg’s salary increased 11% last year to $21,309,264. Seidenberg’s salary has risen consistently, unlike Verizon’s profits.
Let’s face it, women don’t get paid as much as men. Why is this? Aside from obvious reasons like “Men are sexist douchebags” there’s also the fact that fewer women negotiate when it comes to things like salary offers or their yearly raise. Why? Who knows. The point is, it’s appropriate to negotiate. If the men in your office are getting paid more than you are, put a stop to it with a few negotiating tips from Bankrate.com: