03/31/2003
MARKET INSIDER
Capitalism came under fire after Reuters revealed that CEOTom Glocer was awarded a bonus of £612,000 on top of his £816,000 salary in 2002. Critics wondered why the leader of the embattled company--whose share price dropped to a record low last year--was being rewarded.
Reuters flacks defended the move, pointing out that Glocer is only the 55th highest paid CEO in Great Britain and that he received only 60 percent of his possible bonus because he didn’t meet all of his targets. (No doubt the
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