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Boeing CEO Jim McNerney. (José M. Osorio/Chicago Tribune)
Boeing Chief Executive James McNerney’s compensation was valued at $19.7 million in 2010, up 1.5 percent from the previous year, as Boeing saw a rebound in commercial airplane orders, Boeing said in its proxy filing Friday.
The figure includes McNerney’s salary, bonuses, stock and options award and changes to his pension. McNerney’s annual bonus amounted to $4.4 million. Get the full story »
Donald P. Welsh at a press conference in Indianapolis, July 12, 2010. (Matt Detrich/The Star)
The Chicago Convention & Tourism Bureau will pay its new top executive $390,000 a year, with the potential to earn up to $78,000 more if growth objectives are met, the bureau’s chairman said Tuesday morning.
The package, which could total $468,000, will go to Indianapolis tourism executive Donald P. Welsh, whose hiring as the bureau’s new president and CEO was announced Monday evening. Salary information was not available at that time. He will step into the post in early February.
The salary package represents a substantial hike over the compensation paid to the previous top executive, Tim Roby, who resigned last month. In the fiscal year ended June 30, 2010, he received a salary and bonus package of $362,652, of which $260,540 was base salary, bureau officials said. The remainder was incentive bonus and pay for unused vacation time. Get the full story »
Women lawyers continue to lag behind their male counterparts in rank, clout and pay, according to a survey by The National Association of Women Lawyers, due in part to new structures at firms that limit opportunities for women to advance.
Now in its fifth year, the survey is the only national study of the nation’s 200 largest law firms that annually tracks the progress of women lawyers in private practice and collects data on firms as a whole rather than from a subset of individual lawyers. Get the full story »
From the Chicago Sun-Times | The average raise for Chicago workers this year was 2.6 percent, slightly higher than the 2.4 to 2.5 percent national average, according to report from Lincolnshire-based Hewitt Associates. Get the full story>>
The Department of Labor on Friday will issue a long-awaited rule that would require retirement-plan providers to disclose the compensation they receive for their services.
Some companies supply this information, but the “interim final rule” will require all service providers that receive more than $1,000 to disclose it. The intent of the rule, which takes effect next summer, would be to help fiduciaries better assess “the reasonableness of compensation paid to plan service providers and any conflicts of interest that may impact a service provider’s performance.” Get the full story »
