Executive Pay: Time for a Trim
Shipping giant FedEx (FDX) made headlines on Dec. 18 when, in an effort to save costs, it cut the salary of its founder and chief executive, Frederick W. Smith, by 20%. Blaming the worst economic conditions in the company's 35-year operating history, the Memphis company also trimmed salaries for senior FedEx officers by 7.5% to 10%.
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