Word: secs
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...head. Highly respected for his leadership and results, he has become tossed about in the battle over corporate governance because of a pay flap that won't go away. The tipping point came last week when the exchange, in a letter responding to inquiries from Securities and Exchange Commission (SEC) chairman William Donaldson, detailed a trove of Grasso enrichments--from the requisite car and driver, private-jet privileges and club memberships to a previously undisclosed $48 million in benefits due him by 2007. That's on top of the $140 million deferred-income payout announced two weeks earlier, which...
...late. The episode had already become a painful reminder of the cronyism and greed that thrived during the Internet bubble. It may be worse in this case because the N.Y.S.E. is a quasi-regulatory body that should be setting the standard for responsible management. Sources at the SEC say Donaldson has long been concerned about excessive CEO pay, an area of abuse he is determined to clean up. A senior SEC official told TIME that, as a result, the agency is weighing public hearings on governance issues at the N.Y.S.E. and other exchanges. Key questions would be how directors...
...best improvements are in performance and fuel efficiency. The Prius goes from 0 to 60 in 10 sec., a significant boost over the sluggish 12.5 sec. of last year's model. More impressive is the 59 m.p.g. in the city and 51 m.p.g. on the highway...
...every 12 hours. Stockholders were impressed, but Ford wanted more and began experimenting with production-line techniques, moving parts along while each worker performed one task. In 1913 his new plant opened and began producing a Model T every 93 min.; by 1925 that was down to 15 sec. The productivity gains allowed Ford to turn a rich man's plaything into a mass product. By paying $5 an hour, he gave workers enough cash to drive...
Several students who received the notice from HASCS expressed concerns. The message made no specific reference to Greenspan, the SEC, CriticalMass or houseSYSTEM, but rather said simply that FAS had learned that their passwords might have been endangered...