U.P. golden parachutes at risk

It was the fourth time in the past 18 months that shareholders of large U.S. companies urged their directors to limit golden parachutes for departing executives, said [Cornish Hitchcock]. He said shareholders for many companies are unhappy with management scandals -- though not at Union Pacific -- a...

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Bibliographic Details
Published inDeseret news (Salt Lake City, Utah : 1964)
Main Author Paul Foy AP business writer
Format Newspaper Article
LanguageEnglish
Published Salt Lake City, Utah Deseret Digital Media 19.04.2003
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Summary:It was the fourth time in the past 18 months that shareholders of large U.S. companies urged their directors to limit golden parachutes for departing executives, said [Cornish Hitchcock]. He said shareholders for many companies are unhappy with management scandals -- though not at Union Pacific -- and with excessive executive compensation. Despite the lagging economy and high diesel-fuel prices, 2002 was a good year for Union Pacific. [Dick Davidson] doubled his compensation to $16 million as the nation's largest railroad met or exceeded financial goals. Davidson said 2003 opened with diesel reaching $1.30 a gallon, the highest Union Pacific has ever paid. While that price is dropping as the war in Iraq winds down, Davidson said the economy remains uncertain for 2003.
ISSN:0745-4724