Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (73463)	1/13/2008 11:09:45 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

Union Protests 'Gross-Up' Payments Friday January 11, 5:06 pm ET By Judith Burns Union Pension Group Attacks Corporate 'Gross-Up' Payments to CEOs biz.yahoo.com WASHINGTON (AP) -- Union pension plan activists aim to raise a new executive compensation issue at corporate annual meetings this year: so-called "gross-ups" to cover income taxes on payouts. The American Federation of State, County and Municipal Employees wants to put the matter to a vote by shareholders at a half-dozen companies this year: American Express Co., Clear Channel Communications Inc., CVS Caremark Corp., Nabors Industries Ltd., Northrop Grumman Corp. and Textron Inc. Gross-up payments reimburse senior executives for taxes that they owe on company-provided perks and other benefits. Richard Ferlauto, the union's director of corporate governance and pension investment, said the practice is fairly common and is "an abuse of the shareholders' wallet." "In America, they say the only thing certain is death and taxes," Ferlauto told Dow Jones Newswires. "Well, not if you're a CEO."