WSJ Review - Alex Fish Wall Street Journal Review Firms End...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Alex Fish Wall Street Journal Review Firms End Key Benefit for Executives Many boards of directors are reducing the amount of reimbursement for their top executives. This is also paired with these executives paying much higher taxes. The economic recession is causing many people to cringe at the sight high executive perks and bonuses. 43 companies on the S&P 500 have begun changes like these recently. This is due to increased investor criticism of such activities like paying for private corporate jets and covering some of the executives’ tax payments. Hewlett-Packer Co. had reimbursed its executives over forty thousand dollars in taxes on private aircraft use for personal travel, and over four thousand in personal meals for executives who are travelling. HP stopped reimbursement for the taxes on flight, but plans on continuing reimbursement for meals when travelling. Many experts on corporate governance suspect that this retreat of corporate reimbursement to spread to many other corporations. This is because this trend is an opportunity to cut some fat from a corporation’s budget. Boards of directors can better their financial
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

WSJ Review - Alex Fish Wall Street Journal Review Firms End...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online