Public Company CEOs Overpaid Stronger Shareholder Rights the Only Solution
|
|
- Ellen Riley
- 5 years ago
- Views:
Transcription
1 Public Company CEOs Overpaid Stronger Shareholder Rights the Only Solution BDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian Business For Publication January 10, 2008 COMPAS Inc. Public Opinion and Customer Research January 10, 2008
2 1.0. Introduction The Canadian Centre for Policy Alternatives announced recently that the 100 highest paid public company CEOs earned as much in their first day and a quarter as the average wage-earner, about $ 39,000. The CEOs annual pay is about 8.5 million dollars. That was the setting for a survey among CEOs and business leaders on the COMPAS panel. Panelists do believe that public company CEOs are overpaid but they tend to see this as a corporate more than societal problem. To the extent that a cure is possible, it lies in greater legal rights for shareholders, they say. There exists some sympathy on the panel for the view that income differences as great as those portrayed by the Canadian Centre for Policy Alternatives are wrong. Alongside this perspective is some belief that some high income earners deserve their benefits and some concern that the cure [for income inequality] is often worse than the disease Societal Inequality Beware the Cure Panelists are divided about the dangers of income inequality. On the one hand, there is some sympathy for the Canadian Centre for Policy Alternatives view that the extreme incomes received by the top 100 CEOs are wrong and improper, as shown in table 2. Yet, some high income earners do make contributions that justify such compensation, say panelists. In any case, 2
3 Table 2: (Q1) Thinking of personal income issues in general and the issue of inequality, on a 7 point agreement scale where 7 means strongly agree and 1 strongly disagree, how much do you agree that... It is wrong to see inequality as fixable because the cure is often worse than the disease It is wrong to see inequality as a problem because high income earners can bring immense economic growth to their companies and communities It is wrong when income differences as great as this occur Mean DNK Corporate Matters Panelists are concerned about public CEO pay packages. Sizeable numbers perceive them as overpaid or perceive some as much overpaid and others much underpaid, as shown in table 3a. Among those who strongly disagree that public company CEOs are overpaid, most nonetheless see patterns of unfairness in compensation, i.e. that some are overpaid, others underpaid. 3
4 Respondents who did not fully 1 reject that idea that public company CEOs are overpaid or that some are much overpaid while others much underpaid were asked what should done. The two predominant views are that shareholder rights should be enhanced or that solutions can only be achieved on a case by case basis, as shown in table 3b. Table 3a: (Q2) Thinking of CEO compensation among the top paying 100 companies and CEOs contributions to the value of their firm, on a 7 point agreement scale where 7 means strongly agree and 1 strongly disagree, how much do you agree that these top paid CEOs are... [RANDOMIZE] Mean DNK Generally overpaid Paid fairly on average but some are much overpaid and others much underpaid Generally paid fairly Generally underpaid Scores >1. 4
5 Table 3b: (Q3) On a 7 point agreement scale where 7 means strongly agree and 1 strongly disagree, how much do you agree that wrong or excessive payment to public company CEOs is a problem that [RANDOMIZE] [Question asked of respondents who scored >1, i.e. did not completely disagree, that CEOs are overpaid or Should be addressed by stronger legal protection for the right of shareholders (N=111) Can never truly be solved except perhaps on a case by case basis (N=111) Should be addressed by imposing higher tax rates on top income earners (N=111) Mean DNK The following verbatims provided a nuanced sense of panelists perspectives: CEO compensation only becomes an issue when CEO's do not provide acceptable value to the shareholders. I don't remember anybody questioning Jack Welch's compensation. Inappropriate CEO selection and compensation are a result of dysfunctional Boards of Directors. To solve the problem and protect shareholders, these areas must be examined further. CEOs are paid highly because they essentially set their own salaries, and this has created a feeding frenzy where the salaries of top executives are outlandish. And the salaries come directly out of the shareholder's pockets. 5
6 Compensation should be managed by the Board and strongly based on performance. Bonuses, which are part of the package, should be tied to improvements, not just a standard payout. The problem with options is also when strike values are manipulated. I see nothing wrong with large option grants with realistic pricing as that places the executive on a level playing field with potential shareholders. It also drives effort to the benefit of all shareholders. Even if a person never slept, it is unreasonable to pay in more than two or three million dollars for one person where in many public companies, they really cannot have an impact on the operations directly as they are too far removed from the day-to-day action. Share holders should have total control of salaries in all public and private companies. All salaries should be moderate. Many companies are hiding behind their own inefficiency by over paying their CEOs. Having a superstar on a sports team can make a big difference and we pay them large salaries because of the value they bring to the team. In the same way, the right leadership at the helm of a company can make a huge difference to its value. The bottom line is that as long as the fans and the shareholders are happy, sports stars and top CEOs are going to be able to command big salaries. High CEO compensation is right when market driven, but wrong when excessive because of unnecessary "extras". What those are is a judgment call. Should a CEO make millions by acquiring another company? Probably not because the motivation for the acquisition is obfuscated. I feel that top executives income and bonuses should be tied to company earnings. Sometimes I feel they are paid on the basis of their incoming negotiating skills. 6
7 I cannot understand why Canadians think there is something wrong with being successful and earning a lot of money. Nortel - Do you want a list? Over paid, under performed, and walked away with a lot of money. Of far greater concern are the salaries of hockey & football sports professionals. A pioneer of a new process of huge importance to humanity or a new engineering export achievement receives little reward unless the inventor converts to an aggressive business pioneer like Bill Gates, for example. Rewards are unrelated to public good, which is unfortunate. Reward extremes are increasing, and this is destabilizing as it can lead to public unrest and political destabilization. Japan realized this and acted on it effectively. Paying CEOs massive amounts of money in no way directly results in increased company performance. Shareholders should be smarter than to believe that it is one man (or woman) at the helm that makes or breaks a company. Speaking as a CEO of a relatively smaller organization, I must say that CEOs of larger companies, like movie and sports celebrities, do seem to be grossly overpaid for what they contribute to society and their companies. However, like these people, there is likely little that could be, or perhaps even should be done, as the "cure will likely be worse than the disease. Although, greater protection for shareholders is a must. Tax thresholds need to be reviewed, $150,000 is not top tax rate salary level, $1million should be the top tax rate salary level. The biggest problem is payment of substantial incomes to under performing CEO. Compensation should be based on 7
8 the size of the corporation rather than face the need to address underperformance which finally adds insult to injury to shareholders when the problem is solved by a large separation bonus. The primary issue with CEO compensation is the disconnect between performance and pay. Boards of Directors are often ineffective at ensuing pay for performance. The situation becomes most concerning when departing CEOs, who grossly underperformed or significantly eroded shareholder value, receive unjustifiable severance. There is a lack of accountability by CEOs/directors to their shareholders, exacerbated by the leniency of the Canadian judicial system. The strength of a company, private or public is not the result of one individual, but rather, the result of the concerted effort of most of its employees. Many CEO's 'success' is the result of a committed employee infrastructure that supports them. The fact is, many CEOs are significantly overpaid relative to what they truly bring-to-the-table. While there is no question that some CEOs bring value to their organizations with their vision and leadership, more often than not there is a disconnect with their compensation. Ideally, a greater proportion of their compensation should be tied to the performance of their company. The difficulty in a free market is that companies will compete for the best by putting together the most attractive packages that they can to attract the best candidates. 8
9 3.0. Methodology The COMPAS web-survey of CEOs and leaders of small, medium, and large corporations was conducted January 3-7, Respondents constitute an essentially hand-picked panel with a higher numerical representation of small and medium-sized firms. Because of the small population of CEOs and business leaders from which the sample was drawn, the study can be considered more accurate than comparably sized general public studies. In studies of the general public, surveys of 127 are deemed accurate to within approximately 8.7 percentage points 19 times out of 20. The principal and co-investigator on this study are Conrad Winn, Ph.D. and Tamara Gottlieb. 9
Personal Debt: BDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication February 21, 2005
Personal Debt: BDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication February 21, 2005 COMPAS Inc. Market and Customer Research February 21, 2005 Report Template
More informationInterest Rates, the Bank of Canada s Performance, and the Loonie s Future
, the Bank of Canada s Performance, and the Loonie s Future BDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian Business For Publication October 30, 2008 COMPAS Inc. Public Opinion and Customer
More informationCrime, Punishment, Compensation, and CEOs
Crime, Punishment, Compensation, and CEOs BDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication June 27, 2005 COMPAS Inc. Public Opinion and Customer Research
More informationGovernment Red Tape Very Serious Problem for Business, Who Have Little Confidence that Reduction Efforts Will be Fruitful
Very Serious Problem for Business, Who Have Little Confidence that Reduction Efforts Will be Fruitful BDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian Business For Publication May 15,
More informationIncome Trust Policy Opposition Fails to Make Inroads
Policy Opposition Fails to Make Inroads BDO Dunwoody CEO/Business Leader Poll by COMPAS in the Financial Post for Publication September 17, 2007 COMPAS Inc. Public Opinion and Customer Research September
More informationHarper and Flaherty Score with their Opposition to a Special Bank Levy
Harper and Flaherty Score with their Opposition to a Special Bank Levy BDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian Business For Publication May 3, 2010 COMPAS Inc. Public Opinion
More informationThe Healthiest Old People in History: Retirement Aversion and Retirement Anticipation
The Healthiest Old People in History: Retirement Aversion and Retirement Anticipation BDO Dunwoody CEO/Business Leader Poll by COMPAS for publication in the Financial Post COMPAS Inc. Public Opinion and
More informationInterest Rates: Bank of Canada Maintains Very High Confidence of Business Panel
Interest Rates: Bank of Canada Maintains Very High Confidence of Business Panel BDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian Business For Publication October 26, 2009 COMPAS Inc.
More informationProtectionism: Is it on the Rise and What Should Canadian Policy Be
Protectionism: Is it on the Rise and What Should Canadian Policy Be BDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian Business For Publication April 24, 2008 COMPAS Inc. Public Opinion
More informationOil Prices. BDO Dunwoody Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication May 7, 2007
BDO Dunwoody Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication May 7, 2007 COMPAS Inc. Public Opinion and Customer Research May 4, 2007 1.0. Concise Summary Canada s business
More informationBDO Dunwoody CEO/Business Leader Poll by COMPAS in the Financial Post for Publication October 1, 2007
Dubai Acquisition of PrimeWest Energy Immense Support for Careful Regulatory Review Because Buyer is a Foreign State-Owned Company and Strategic Resources Are Involved BDO Dunwoody CEO/Business Leader
More informationOil Patch Taxation Controversy: Mixed Feelings from the Business Panel
Oil Patch Taxation Controversy: Mixed Feelings from the Business Panel BDO Dunwoody CEO/Business Leader Poll by COMPAS in the Financial Post for Publication October 15, 2007 COMPAS Inc. Public Opinion
More informationInflation Rate and Economic Growth
Inflation Rate and Economic Growth BDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication June 28, 2004 COMPAS Inc. Public Opinion and Customer Research June
More informationBDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian Business For Publication August 10, 2009
Nortel: Ottawa Should Review Sale to Ericsson Because of Vast Tax Support to Nortel, National Security Considerations, and Abuse of RIM Bid; Canada Export Corporation Wrong to Fund Nokia Bid BDO Dunwoody
More informationLarge Charity Gap Predicted for 2009
Large Charity Gap Predicted for 2009 Business Panel Pinpoints Misgivings about the Accountability and Effectiveness of Charities as the Main Barriers to Giving Child/Youth Poverty Outdraws Other Social
More informationCanada and World Economic Crisis: Harper Earns High Grades But Canada Has Limited Ability to Protect the Economy from Threats to Export Sector
Canada and World Economic Crisis: Harper Earns High Grades But Canada Has Limited Ability to Protect the Economy from Threats to Export Sector BDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in
More informationFlaherty Aces Economic Statement
Flaherty Aces Economic Statement Among Highest Performance Scores Recorded; Main Reservations Not Enough Infrastructure Spending and Debt Repayment; Concern Volunteered about Fate of Manufacturing, Need
More informationCorporate Fraud. BDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian Business For Publication April 3, 2008
Corporate Fraud Panel Calls for More Jail Time for Wrongdoers, and Better Protection for Whistle Blowers Major Loss of Confidence in SOX SEC Outperforms OSC BDO Dunwoody Weekly CEO/Business Leader Poll
More informationCorporate Giving. BDO Dunwoody CEO/Business Leader Poll by COMPAS in the Financial Post for Publication February 19, 2007
Corporate Giving BDO Dunwoody CEO/Business Leader Poll by COMPAS in the Financial Post for Publication February 19, 2007 COMPAS Inc. Public Opinion and Customer Research February 19, 2007 1.0 Introduction
More informationBDO Dunwoody CEO/Business Leader Poll by COMPAS in the Financial Post for publication July 10, 2006
CPP, Pension Debacles, and Defined Contribution Plans: Tie CEO Pensions to Employee Pension Changes, Ontario Wrong to Infuse Teacher Pensions without Debate, No Enthusiasm for Plowing Surpluses into CPP
More informationOverwhelming Concern about Inadequate Retirement Incomes; Strong Support for C. D. Howe/Keith Ambachtsheer Canada Supplementary Pension Plan
Overwhelming Concern about Inadequate Retirement Incomes; Strong Support for C. D. Howe/Keith Ambachtsheer Canada Supplementary Pension Plan BDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian
More informationBDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian Business For Publication November 23, 2009
Yes to Flaherty s Single National Regulator, No to Canadian Securities Administrators Proposal for Corporate Governance Based on Principles BDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian
More informationPaul Martin in New York: Business Panel Enthusiastic about PM s Blunt Talk, Ambivalent about his Veiled Threat, and Against Re-Opening NAFTA
Paul Martin in New York: Business Panel Enthusiastic about PM s Blunt Talk, Ambivalent about his Veiled Threat, and Against Re-Opening NAFTA BDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS
More informationBDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication November 22, 2004
: Canada s Business Leaders Want Publicly Traded Companies to Disclose Any Information that Could Affect Revenue or Liability Exposure BDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS in
More informationBank ABM Fees. BDO Dunwoody Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication March 5, 2007
BDO Dunwoody Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication March 5, 2007 COMPAS Inc. Public Opinion and Customer Research March 5, 2007 1.0 Introduction Canada s CEOs
More informationHarper-Flaherty Budget Earns Very High Marks from CEOs and Business Leaders
Harper-Flaherty Budget Earns Very High Marks from CEOs and Business Leaders Top Marks for Customs Tariff Simplifications, Ethics Monitoring of Charities, and New RESP Flexibility Panel Favours Even Lower
More informationPersonal Investment Strategy:
Personal Investment Strategy: Slightly Pessimistic, Slightly Cash- and Bond-Oriented; Western Europe Tops the List as Place to Invest; U.S. Has Lost Panel s Confidence, China Even More So BDO Dunwoody
More informationAlberta Election, Transfer Payments
Alberta Election, Transfer Payments BDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication November 1, 2004 COMPAS Inc. Public Opinion and Customer Research
More informationTaxes and Income Trusts: Mammoth Support for Mintz/ C.D. Howe Position, Failing Grade for Martin Government
Taxes and Income Trusts: Mammoth Support for Mintz/ C.D. Howe Position, Failing Grade for Martin Government BDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication
More informationIntegrity the Missing Promise in a Campaign with Record Promises, Conservatives Score on Taxes and Defence, Backlash against Liberals on Handgun Law:
Integrity the Missing Promise in a Campaign with Record Promises, Conservatives Score on Taxes and Defence, Backlash against Liberals on Handgun Law: Campaign Platforms Part II BDO Dunwoody Weekly CEO/Business
More informationBDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian Business For Publication November 30, 2009
: CPI Hover Around 1% in 2010, Creep to around 2% in 2011; Unemployment Unchanging til at Least after March, 2011; 2009-2010 GoC Budget Deficit Mammothly Underestimated; Growth Very Subnormal in March,
More informationAdvice to the Prime Minister about Auto Industry Bailouts Follow U.S. Congress Lead
Advice to the Prime Minister about Auto Industry Bailouts Follow U.S. Congress Lead BDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in Canadian Business For Publication December 12, 2008 COMPAS
More informationBDO Dunwoody Weekly CEO/Business Leader Poll By COMPAS in the Financial Post For Publication June 4, 2007
: Investment Reviews a Blow Against Both Business and Taxpayers; Building Global Business Players in Canada Requires Better Tax Policy and Better Non-Business Policies BDO Dunwoody Weekly CEO/Business
More informationThe U.S. War over Taxing the Wealthy Business Panel Sides with Both Left and Right
Part 2 of 2-Part Series on North America, the Fiscal Crunch, and Taxing the Wealthy The U.S. and the Left-Right Fight over Taxing the Rich The U.S. War over Taxing the Wealthy Business Panel Sides with
More informationWhistleblowing: Whistleblower Protection Vital to Protect Government Employees;
Whistleblowing: Whistleblower Protection Vital to Protect Government Employees; It Should Be Easier for Employees to Sue Governments/Businesses That Retaliate Against Them for Revealing Wrongdoing, But
More informationForeign Acquisitions of Canadian Corporations: Protect Energy and Natural Resources, Little Else
Foreign Acquisitions of Canadian Corporations: Protect Energy and Natural Resources, Little Else BDO Dunwoody Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication August 21,
More informationConfidence in Public Accounting Firms Returns, Strong Support for Sarbanes-Oxley
Confidence in Public Accounting Firms Returns, Strong Support for Sarbanes-Oxley BDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication June 7, 2004 COMPAS
More informationThrone Speech and Surplus: Pay Down The Debt and Control Spending
: Pay Down The Debt and Control Spending BDO Dunwoody CEO/Business Leader Poll by COMPAS in the Financial Post for Publication October 9, 2007 COMPAS Inc. Public Opinion and Customer Research October 9,
More informationForeign Ownership of Canadian Telecoms
Foreign Ownership of Canadian Telecoms Business Panel Divided on Whether to Loosen Regulations; Increased Competition Would Improve Prices and Options; Intense Panel Opposition to Ownership Stakes from
More informationTaxes: Federal Government s Achilles Heel
BDO Dunwoody Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication April 23, 2007 COMPAS Inc. Public Opinion and Customer Research April 23, 2007 1.0. Introduction Tax policy
More informationBDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication October 3, 2005
Serious Risk of Dutch Disease Falling Traditional Exports, Rising Inflation, Intensified Ottawa-Edmonton Conflict; Governor Dodge Far Too Optimistic, Ottawa Gets Bad Grades BDO Dunwoody/Chamber Weekly
More informationIraq and the Economy: CIBC/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication October 15, 2002
Iraq and the Economy: CIBC/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication October 15, COMPAS Inc. Public Opinion and Customer Research Introduction On balance,
More informationNobel Prize Economist Paul Krugman on Long Depression Rather than Great Depression Neither, Says Business Panel; We re in a Severe Recession
Nobel Prize Economist Paul Krugman on Long Depression Rather than Great Depression Neither, Says Business Panel; We re in a Severe Recession COMPAS Inc. Public Opinion and Customer Research July 12, 2010
More informationFrom Hydro Privatization to Non-Profit Status A Slight Shift of Business Opinion
From Hydro Privatization to Non-Profit Status A Slight Shift of Business Opinion CIBC/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication November 18, 2002 COMPAS Inc.
More informationGST Fraud: CIBC/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication December 2, 2002
GST Fraud: CIBC/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication December 2, 2002 COMPAS Inc. Public Opinion and Customer Research Introduction While acknowledging
More informationClass Action: CIBC/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication May 6, 2002
Class Action: CIBC/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication May 6, 2002 COMPAS Inc. Public Opinion and Customer Research Introduction An overwhelming majority
More informationProvincial Deficits and Debt Loads: Cut Spending Across the Board, Privatize Some Healthcare Functions, Say CEOs and Business Leaders
Provincial Deficits and Debt Loads: Cut Spending Across the Board, Privatize Some Healthcare Functions, Say CEOs and Business Leaders COMPAS Inc. Public Opinion and Customer Research July 5, 2010 1.0 Overview
More informationAuditor General s Report on Sponsorship Misspending: Purgatory for Gagliano and Chretien; Serious Concern about Paul Martin
Auditor General s Report on Sponsorship Misspending: Purgatory for Gagliano and Chretien; Serious Concern about Paul Martin BDO Dunwoody/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial
More informationWhere Is the Canadian Economy Going and Why
Where Is the Canadian Economy Going and Why Following a 10 Week Period of Profit Downgrades and Capital Expenditure Cuts, CEOs are Guardedly Optimistic, Believe that IMF Forecasts Are Too Negative, and
More informationTRUE FACTS AND FALSE PERCEPTIONS ABOUT FEDERAL DEFICITS" Remarks by Thomas C. Melzer Rotary Club of Springfield, Missouri December 6, 1988
TRUE FACTS AND FALSE PERCEPTIONS ABOUT FEDERAL DEFICITS" Remarks by Thomas C. Melzer Rotary Club of Springfield, Missouri December 6, 1988 During the decade of the 1980s, the U.S. has enjoyed spectacular
More informationSerious WorldCom Fallout: CIBC/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication July 8, 2002
Serious WorldCom Fallout: CIBC/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication July 8, 2002 COMPAS Inc. Public Opinion and Consumer Research 1 Introduction In the
More informationKeynes, the Dollar, and Personal Investments
Keynes, the Dollar, and Personal Investments CEOs Repudiate Keyes, Embracing Tax Cuts Instead; Favour Strong Dollar to Enhance Standard Of Living and Innovation; In Personal Investing, Are Increasingly
More informationThe Dollar: Taxes Matter, Speeches Don t, and Ottawa Gets Poor Grades for Its Efforts
The Dollar: Taxes Matter, Speeches Don t, and Ottawa Gets Poor Grades for Its Efforts Financial Post/COMPAS Poll of CEOs and Other Business Leaders for Publication February 4, 2002 COMPAS Inc. Public Opinion
More informationYour Voice 2014, BCLC s Employee Survey Comprehensive Report
Your Voice, BCLC s Employee Survey Comprehensive Report 1 Methodology was the sixth year of conducting Your Voice, the employee engagement survey for All employees are invited to participate with the following
More informationCenter for Effective Organizations
Center for Effective Organizations Executive Pay: Audit Needed? CEO Publication G12-11 (618) Bruce R. Ellig Author The Complete Guide to Executive Compensation Edward E. Lawler III Director Center for
More informationWhat Came First... Fundamentals or the Technicals? By Jared Martinez
What Came First... Fundamentals or the Technicals? By Jared Martinez I am honored to share my thoughts on our methodologies, focusing on the current technical movements and conditions of the FOREX Markets,
More informationTheir cause is reducing health care costs.
To: GOP Health Care Advocates Re: GOP Health Care Strategy Fr: Alex Castellanos July 7, 2009 The research Chairman Steele has conducted at the RNC on health care has produced some significant new insights
More informationCorporate governance has been a hot button issue since the collapse of Adelphia, Enron, Worldcom and
The Proxy Edge: Exercising Your Shareholder Rights By John Deysher Corporate governance has been a hot button issue since the collapse of Adelphia, Enron, Worldcom and others. The Securities and Exchange
More informationSpring Budget IFS Director Paul Johnson s opening remarks
Spring Budget 2017 IFS Director Paul Johnson s opening remarks Spring Budgets seem to be going out with something of a whimper. Yesterday s was one of the smallest I can remember in pretty much every dimension
More informationUnderstanding and Using Percentages
Percentages Understanding and Using Percentages If you haven t done maths for a while, it might be best for you to start with Fractions 4. Fractions, Decimals, and Percentages. WHAT ARE THEY? Percentages
More informationThere is an old saying that goes something like "walk a mile in my shoes before..."
The Secretary Ontario Securities Commission 20 Queen Street West 19th Floor, Box 55 Toronto, Ontario M5H 3S8 Me Anne-Marie Beaudoin Corporate Secretary Autorité des marchés financiers 800, square Victoria,
More informationBrief to the Pre-Budget Consultation of the Commons Finance Committee. Presented by the Face of Poverty Consultation
Brief to the Pre-Budget Consultation of the Commons Finance Committee Presented by the Face of Poverty Consultation Government budgets should focus on supporting programmes to meet the priority needs of
More informationTRIPLE YOUR RETIREMENT DOLLARS
From the author of Bullet Proof My Wealth KEN CRUISE TRIPLE YOUR RETIREMENT DOLLARS Learn How to Retire With Enough Table of Contents Chapter 1 - Retirees are Going Broke 3 Chapter 2 - What is 5 Chapter
More information17. Social Security. Congress should allow workers to privately invest at least half their Social Security payroll taxes through individual accounts.
17. Social Security Congress should allow workers to privately invest at least half their Social Security payroll taxes through individual accounts. Although President Bush failed in his efforts to reform
More informationWhat to Do About the Federal Surplus: CIBC/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication June 3, 2002
What to Do About the Federal Surplus: CIBC/Chamber Weekly CEO/Business Leader Poll by COMPAS in the Financial Post for Publication June 3, 2002 COMPAS Inc. Public Opinion and Customer Research Introduction
More informationAnswers to Chapter 10 Review Questions
Answers to Chapter 10 Review Questions 10.1. Explain why peak end evaluation causes duration neglect. With peak end evaluation an event is remembered solely according to instant utility at particular points
More information2013 Hedge Fund. Compensation Report SAMPLE REPORT
2013 Hedge Fund Hedge Fund Compensation Report Compensation Report JobSearchDigest.com SAMPLE REPORT HedgeFundCompensationReport.com Introduction It is our pleasure to share with you, for the sixth time,
More informationPolling Income tax and inequality
Polling Income tax and inequality October 2018 The Australia Institute surveyed a nationally representative sample of 1,449 Australians about income inequality and income taxation. Overall, most respondents
More informationWhat s Working and Not Working for 401(k) Small Plan Participants
What s Working and Not Working for 401(k) Small Plan Participants The Guardian Small Plan 401(k) RetireWell StudySM 2.0 GUARDIAN RETIREMENT SOLUTIONS FOR PLAN SPONSORS Who Did We Survey? Methodology Guardian
More informationSUSTAINABLE STOCK EXCHANGES 2012 GLOBAL DIALOGUE 18 JUNE 2012, RIO DE JANEIRO MARIA HELENA SANTANA KEYNOTE ADDRESS
SUSTAINABLE STOCK EXCHANGES 2012 GLOBAL DIALOGUE 18 JUNE 2012, RIO DE JANEIRO MARIA HELENA SANTANA KEYNOTE ADDRESS I WANT TO THANK THE SSE INITIATIVE S SPONSORS FOR THE INVITATION TO BE HERE TODAY. IT
More informationConsiderations for a Hospital-Based ACO. Insurance Premium Construction: Tim Smith, ASA, MAAA, MS
Insurance Premium Construction: Considerations for a Hospital-Based ACO Tim Smith, ASA, MAAA, MS I once saw a billboard advertising a new insurance product co-branded by the local hospital system and a
More informationCommon Investment Benchmarks
Common Investment Benchmarks Investors can select from a wide variety of ready made financial benchmarks for their investment portfolios. An appropriate benchmark should reflect your actual portfolio as
More informationThe Continuing Legal Education Society of Nova Scotia Insurance Law Seminar (September 10, 1993) "How Valuable is the Actuarial Report?
The Continuing Legal Education Society of Nova Scotia Insurance Law Seminar (September 10, 1993) "How Valuable is the Actuarial Report?" In dealing with this topic, I will start by giving you a brief outline
More informationTHE AURUM COMPANY PENSION GROUP PERSONAL PENSION. A guide to help you prepare for the retirement you want
THE AURUM COMPANY PENSION GROUP PERSONAL PENSION A guide to help you prepare for the retirement you want Your AURUM company pension is provided by Scottish Widows. SUPPORTING LITERATURE AND TOOLS TO HELP
More informationBIGGEST RELOCATION CHALLENGES DOMESTIC U.S. RELOCATION
BIGGEST RELOCATION CHALLENGES DOMESTIC U.S. RELOCATION What keeps relocation managers up at night? During a turbulent period that included, for example, a real estate recession, the European financial
More informationAn Introduction To Antidilution Provisions
An Introduction To Antidilution Provisions (Part 2) David A. Broadwin Antidiltion protection can t take just one form. To protect the investor, it has to reflect the operation of the underlying security
More informationHow to Fix Corporate Governance and Executive Compensation
How to Fix Corporate Governance and Executive Compensation Boards of directors need to reconsider their approach to corporate governance. This means measuring corporate performance, allocating capital
More informationCompensation Plan Enhancements- EFFECTIVE BP 8 (Singapore)
Compensation Plan Enhancements- EFFECTIVE BP 8 (Singapore) Why the need to enhance? It is paramount in understanding the new compensation plan to also understand what brought about the need for modifications
More informationSEC's Spotlight on Executive Pay: Will It Make a Difference?
SEC's Spotlight on Executive Pay: Will It Make a Difference? Knowledge@Wharton February 8, 2006 Compensation for American CEOs has soared over the past decade, far exceeding inflation and wage gains of
More informationThe Competing Values Framework Growth Strategies and the Stock Market
CHAPTER 3 The Competing Values Framework Growth Strategies and the Stock Market The officer of every corporation should feel in his heart in his very soul that he is responsible, not merely to make dividends
More informationChapter 6: The Asset Allocation Decision
Chapter 6: The Asset Allocation Decision Like most of my clients, I grew up with preconceived ideas about investing firmly planted in my head. These ideas seemed so sensible that they were almost considered
More informationCOMPARING BUDGETING TECHNIQUES
COMPARING BUDGETING TECHNIQUES The budgeting process is an essential component of management control systems, as it provides a system of planning, coordination and control for management. It is often an
More informationTheUltimateAnnuityBuyer sguide. dddd. 7Sure-FireTipsToGeneratingMoreIncome, Growth,AndPreservationOfPrincipal. ProvidedBy:
TheUltimateAnnuityBuyer sguide dddd 7Sure-FireTipsToGeneratingMoreIncome, Growth,AndPreservationOfPrincipal ProvidedBy: 7 Key Tips For Purchasing Annuities In Today s Market TIP #1 Company Ratings Matter!
More informationControl: Actual results can be compared against the budget and action is taken as appropriate.
Understanding Budgeting Budgeting is a key aspect of management accounting and particularly impacts on the areas of planning, control and performance management. A budget is a quantitative plan prepared
More informationUpdating the American Tax System:
Updating the American Tax System: American Attitudes and Support for Tax Reform Matthew Streit Vice President, Strategic Communications Table of Contents Executive Summary...1 Methodology...2 Part I: American
More informationIntro to Fundamental Analysis Tutorial
Intro to Fundamental Analysis Tutorial http://www.investopedia.com/university/fundamentalanalysis/ Thanks very much for downloading the printable version of this tutorial. As always, we welcome any feedback
More informationSTATE OF THE PROTECTION NATION. March 2017
STATE OF THE March 2017 INTRODUCTION Royal London commissioned this research to find out how people felt about their own protection needs and the industry as a whole. And to answer questions such as: does
More informationThe impact of tax and benefit reforms by sex: some simple analysis
The impact of tax and benefit reforms by sex: some simple analysis IFS Briefing Note 118 James Browne The impact of tax and benefit reforms by sex: some simple analysis 1. Introduction 1 James Browne Institute
More informationPresidential Race Shaping Up Similarly to 2012
FOR IMMEDIATE RELEASE June 30, 2016 INTERVIEWS: Tom Jensen 919-744-6312 IF YOU HAVE BASIC METHODOLOGICAL QUESTIONS, PLEASE E-MAIL information@publicpolicypolling.com, OR CONSULT THE FINAL PARAGRAPH OF
More informationPrecarious to prosperous: Tackling income volatility in Canada. Bharat Masrani Group President and Chief Executive Officer, TD Bank Group
Precarious to prosperous: Tackling income volatility in Canada Bharat Masrani Group President and Chief Executive Officer, TD Bank Group November 1, 2017 Economic Club Toronto The benefits are welldocumented.
More informationKeep the change? Canadians split on moving to a notipping system in restaurants
Page 1 of 11 Keep the change? Canadians split on moving to a notipping system in restaurants Six-in-ten who prefer service included pricing say they tip more due to societal pressure July 13, 2016 As an
More informationSummary of ideas to kick-start some pre-funding for social care. Using pensions for care now possible following Budget reforms
Response from Dr. Ros Altmann June 2014 Budget Consultation response using pension freedoms to kick-start social care funding Integrating long-term care into pensions and financial planning: Official estimates
More informationTime to Focus on Getting Things Done. Delivering Pensions Stability faster. Risk. Reinsurance. Human Resources.
Aon Hewitt Retirement and Investment Solutions Time to Focus on Getting Things Done Delivering Pensions Stability faster Risk. Reinsurance. Human Resources. Time to focus on getting things done Delivering
More informationThe results are in for the Canadian Hotel Industry Survey launched June 23, 2009.
1 SURVEY RESPONDENTS (QTY 342) Ratio* Hotel Ownership 31.5 % Corporate Hotel 11.7 % Management Hotel Management (onsite 26.1% and regional level) Hotel Development and/or 9.9 % franchising Lending 5.1
More informationYour Stock Market Survival Guide
Your Stock Market Survival Guide ROSENBERG FINANCIAL GROUP, INC. While this report can apply to all people, it is especially geared for people who: (1) are getting close to retirement; (2) are already
More informationCHAPTER 7 PERCEPTION OF TAX PROFESSIONALS REGARDING INCOME TAX SYSTEM IN INDIA
CHAPTER 7 PERCEPTION OF TAX PROFESSIONALS REGARDING INCOME TAX SYSTEM IN INDIA Tax professionals play an important role in the implementation of income tax law of the country. They help the taxpayers in
More informationChanging the Game in Japan s Equity Markets: An Update on Corporate Governance Reforms
Changing the Game in Japan s Equity Markets: An Update on Corporate Governance Reforms Tuesday, April 3, 2018 Featured Speakers: Akitsugu Era Director and Head of Investment Stewardship Team, BlackRock
More informationType: Services. Related Personal Outcome Measure: I Feel Safe. Code: 1.8. Date Released: 29 / 05 / Date/s Released: 21 / 11 / 2003
Title: Risk Management for People Using Association Services Type: Services Policy / Procedure Details Related Personal Outcome Measure: I Feel Safe Code: 1.8 Original Version Details Revised Version/s
More informationIntroduction To The Income Statement
Introduction To The Income Statement This is the downloaded transcript of the video presentation for this topic. More downloads and videos are available at The Kaplan Group Commercial Collection Agency
More information