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To: Sam LBI nj who wrote (24255)	4/6/1999 10:33:00 AM
From: Fred Thornell	Read Replies (2) \| Respond to of 44908

If you think RG is overpaid look at this guy. Healthsouth's Scrushy Sees 1998 Pay Decline 50% With No Bonus Washington, April 5 (Bloomberg) -- Richard Scrushy, chairman and chief executive of Healthsouth Corp., saw his annual compensation fall more than 50 percent last year, as Scrushy and other top executives received no cash bonuses. Scrushy received a total of $14.2 million in 1998, down from a pay package valued at $29.3 million the year before, according to an annual proxy statement filed with the U.S. Securities and Exchange Commission. The lack of a bonus accounted for most of the 1998 decline. The 46-year-old executive, who had received a $10 million bonus in 1997, voluntarily chose to forgo his salary and his annual target bonus after last Oct. 31, the proxy said. In a separate section of the document, Healthsouth reported that the board determined no executives would get bonuses. Scrushy's salary also declined, to $2.78 million from $3.39 million, because he chose to forgo his paycheck after Oct. 31. Healthsouth shares fell more than 44 percent during 1998. Healthsouth attributed the drop to general conditions in the capital markets, market perceptions concerning the healthcare industry, and a Healthsouth announcement on future changes in reimbursement and managed care pricing pressure. Based in Birmingham, Alabama, Healthsouth ranks as the largest U.S. operator of outpatient rehabilitation and surgery clinics. The company focuses on rehabilitation and surgical services that don't require an overnight stay. Scrushy did receive options last year to purchase 1.5 million common shares at $10 each, a grant that the company valued at $11.35 million. In 1997 he received options on 1.3 million shares, which the company said at the time had an estimated value of $15.85 million. However, with Healthsouth shares rising 1/16 to close at 10 3/16, most of the options Scrushy received in 1997 are currently worthless. Under a plan that Healthsouth will propose to shareholders, employees will be able to turn in options with an exercise price of $16 or more for a smaller number of lower-priced options. Executives, though, won't get to participate in the program. Other compensation for Scrushy totaled $72,352 in 1998 compared to $21,430 in 1997. 18:50:07 04/05/1999