An investor advisory firm, Glass Lewis & Company has reported that Sprint Nextel directors are the most "overpaid" in the USA - with total remuneration of US$74 million last year. Based on a study of Standard & Poor's 500 index of large companies, the company was reported as having the worst pay-for-performance rating for 2007. The firm reported losses of US$29 billion as it wrote down the value of the Nextel network. Glass Lewis is a firm which makes recommendations to investors on how to vote in proxy ballots. Compensation packages for the most highly paid U.S. executives "have been so over-the-top that they have skewed the standards for what's reasonable," Glass Lewis said in the report. Sprint spokesman James Fisher called the report “highly misleading," adding...
[read full story]
Your Web Site
