The Stop Subsidizing Multimillion Dollar Corporate Bonuses Act has been introduced by Sens. Richard Blumenthal, D-Conn., and Jack Reed, D-R.I. The measure would end unlimited tax write-offs on executive compensation based on performance. Instead, publicly traded companies would be able to deduct as much as $1 million per employee.
Dolphins can recognize a tank mate's whistle even if they have been apart for 20 years, research shows. "The main implications of such findings is that humans are not the only mammals that retain memories of others for long periods," said Eduardo Mercado III, a psychologist at State University of New York at Buffalo.
Wilcox has also been named principal accounting officer. Before joining Universal Insurance in 2011 as vice president of finance, Wilcox was Burger King's director of consolidation and Securities and Exchange Commission reporting.
CFO pay is about 30% less than what CEOs receive, but the gap might be narrowing. A study shows that CFOs were more likely to receive compensation increases during the past three years. Almost 90% of CFOs got a raise from 2011 to 2012, compared with 50% of CEOs, according to Compensation Advisory Partners.