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September 13, 2004

All Business: Isn't it time for CEOs to refund bad bonuses?

  • A thousand companies have restated earnings, but most of their executives are holding on to bonus pay they didn't earn.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — It doesn't seem to matter that more than a thousand companies have restated earnings in recent years. Most of their executives are still holding on to bonus pay that it turns out they technically didn't earn.

    Just when corporate boards are supposed to be increasing their oversight, they still aren't doing much to get executives to return undeserved compensation to company coffers. It looks like the only hope for that to change is if shareholders get in the way.


     
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