Archive: June, 2010
For those who’ve had enough discussion about stratospheric executive pay packages, here are some scraps for the rest of us.
Employers are planning salary increases of about 3 percent for 2011, up from 2 percent in 2010, according to results of a new survey of more than 300 organizations released Tuesday by the Hay Group, a Philadelphia-based consulting firm.
However, that pales next to the 4.5 percent to 5.0 percent increases in base salaries that were common during the early 2000s, according to Hay’s research. If you assume inflation is running at about 2 percent, a 3 percent salary bump results in a real gain of only 1 percent.
What’s the going rate to hire a new CEO?
The Inquirer’s annual look at executive pay on Sunday showed a wide range of compensation for CEOs of publicly held companies. But when a company needs to find a new boss, other inducements come into play to seal the deal.
Three recent switches by area companies in transition show what new CEOs are getting locally.
I can’t relate to those who lined up last week to buy the Apple iPhone 4.
It’s not that I don’t like new technology. Rather, I’m a klutz, and I wouldn’t bet on a shiny iPhone surviving for long in my “hands of clod.”
My sympathies lean to companies that are able to fix the things I break. One such local company is DecisionOne Corp., which has had many names and many owners over the years.
Pasta has been very, very good for the financial health of Philadelphia Macaroni Co.
So good that Campbell Soup Co., a longtime customer, said it agreed to sell an Ohio pasta factory to the family-owned Philadelphia Macaroni.
Terms of the transaction, which is expected to close in mid-July, were not disclosed.
Retail areas are buffeted by cycles just like economies.
The difference is that sometimes when a retail center sinks, it doesn’t rise again.
For Chestnut Hill, the most recent recession exposed weakness along its Germantown Avenue shopping area. Last summer, promoters of the affluent Northwest Philadelphia neighborhood could no longer ignore the “For Rent” signs on the avenue.
The echoes of the Great Depression never seem too far away in the age of the iPad.
Is it time to cut spending and raise taxes to restore some fiscal sanity to the U.S. government? Or spend even more to maintain the momentum of what has been a modest economic recovery?
The federal government did the former in the ’30s, and many of the history books say those moves prolonged the Depression.
An update from the print version: Godwin Pumps has about 250 employees in Bridgeport, N.J.
But like the former many-tentacled Tyco International Ltd., ITT is not what it was before 1995, when it split into three companies: a hospitality company, the Hartford insurance company, and a collection of manufacturing companies that now bears the ITT name.
Years can go by without Philadelphia-area companies spinning off operations into new, independent companies.
Last week brought news of two, planned by two of the region’s biggest publicly held companies.
First, Sunoco Inc. said it would spin off its SunCoke Energy unit in a tax-free transaction to Sunoco shareholders. The oil refiner and marketer said that deal wouldn’t be completed until the first half of 2011.