{"id":2334,"date":"2010-03-23T12:11:07","date_gmt":"2010-03-23T20:11:07","guid":{"rendered":"http:\/\/hodakvalue.com\/blog\/?p=2334"},"modified":"2010-03-23T14:29:43","modified_gmt":"2010-03-23T22:29:43","slug":"nyts-comp-experts-pay-restrictions-didnt-matter-much","status":"publish","type":"post","link":"http:\/\/hodakvalue.com\/blog\/nyts-comp-experts-pay-restrictions-didnt-matter-much\/","title":{"rendered":"NYT’s comp experts: Pay restrictions didn’t matter (much)"},"content":{"rendered":"

The Gray Lady reports<\/a>:<\/p>\n

Of the 104 senior executives whose pay was set by the federal pay regulator in the last two years, 88 executives, or nearly 85 percent, are still with the companies even though their pay was drastically cut back, according to people briefed on the government data.<\/em><\/p>\n

The relative stability, at least within the executive suite, suggests that a soft job market, corporate loyalty and personal pride helped deter the feared management exodus at the companies hardest hit by the pay rules.<\/em><\/p><\/blockquote>\n

I’m sure every board is ready to apply that magic to their own companies.<\/p>\n

Oh, some questions left out in this analysis:<\/p>\n

–\u00a0 What was the senior executive turnover of peer companies not subject to these restrictions in 2009?\u00a0 Is it close enough to 15% to render “relative stability” as the appropriate verdict?\u00a0 (Best guess:\u00a0 peer turnover would be in the 9 to 12 percent range last year.)<\/p>\n

– What was the composition of that turnover?\u00a0 Did they lose their best people (as is usual in a cash crunch) or their average people (who tend to hunker down in bad times)?<\/p>\n

– What about the effect of promised future compensation?\u00a0 Lloyd Blankfein and Jamie Dimon had a sense that whatever they gave up in 2009 they could kind of make up in 2010 to 20??.\u00a0 What would these restrictions do if the Pay Czar threatened to hover around for several more years?\u00a0 (Hint: We got a clear sense of that at AIG, what could only be called an exodus of their top people.\u00a0 We’ll see how it works at Government Motors.)<\/p>\n","protected":false},"excerpt":{"rendered":"

The Gray Lady reports: Of the 104 senior executives whose pay was set by the federal pay regulator in the last two years, 88 executives, or nearly 85 percent, are still with the companies even though their pay was drastically cut back, according to people briefed on the government data. The relative stability, at least […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-2334","post","type-post","status-publish","format-standard","hentry","category-reporting-on-pay"],"_links":{"self":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/comments?post=2334"}],"version-history":[{"count":7,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2334\/revisions"}],"predecessor-version":[{"id":2341,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2334\/revisions\/2341"}],"wp:attachment":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/media?parent=2334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/categories?post=2334"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/tags?post=2334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}