Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Article excerpt

Survey: Women's Pay Still Isn't On Par With Men's

Women earn 5 to 15 cents less on the dollar than men in similar jobs, though in some cases their salaries are catching up to and even surpassing men's pay, Working Woman magazine reported.

In a survey being released today, the magazine found the gender gap in pay narrowed significantly in 1995 in some jobs, such as computer analysts.

But it widened in others: Women bank tellers, brokers and other financial service representatives made 55 percent of what their male counterparts earned, down from 66 percent in 1994.

The highest-paid woman in 1994? Linda Wachner, head of Warnaco/Authentic Fitness Corp., $9.49 million. Associated Press ***** Loral CEO In Line For $18 Million Bonus Loral Corp.

Chairman Bernard Schwartz is expected to receive a bonus payment of $18 million as a result of engineering the sale of his company's defense businesses to Lockheed Martin Corp.

Schwartz is entitled to the bonus once Lockheed Martin's proposed $9.1 billion acquisition of most of Loral takes effect, according to a 14D-1 filing with the Securities and Exchange Commission. That's in addition to the $140 million Schwartz is expected to get for his Loral stock.

The filing also shows why Lockheed Martin wants to buy Loral's defense businesses: Loral disclosed in the documents that it anticipated a 27 percent increase in sales and a 31 percent increase in operating income between 1996 and 1999, if it remained an independent company. Bloomberg ***** 1,400 Kraft Workers Get Buyout Offers

Kraft Foods Inc. is offering early retirement to 1,400 U.S. administrative employees in its continuing bid to become a leaner, more competitive company.

The Philip Morris Cos. subsidiary, which makes Oscar Mayer hot dogs, Cheez Whiz and Miracle Whip, is offering buyouts to workers ranging from secretaries and clerks to executive vice presidents, the company said. …

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