Compensation Expert Attacks Health Care Exec Earnings
WASHINGTON _ The chief executives of major drug companies and health care chains typically make $2.5 million a year, or 192 times what their janitors are paid, a compensation expert said Wednesday. The salaries, bonuses and stock options in the health care industry are "excessive, if not obscene" and bear no relationship to the companies' performance, gadfly Graef S. Crystal told a House Energy and Commerce subcommittee.
The panel also heard government auditors claim one of the biggest for-profit chains, the Hospital Corporation of America (HCA), billed Medicare for $1.1 million to pay for alcoholic beverages, company outings, foreign trips, scholarships for employees' children, free coffee in the corporate cafeteria and other questionable expenses. Worst, Best Bosses Found
NEW YORK _ The nation's worst boss demands that workers who take time off for a funeral return with an obituary. He asks employees to steal phone books from customers. He couldn't make a decision if his life depended on it. …