New Jersey Governor Chris Christie, whose cutback of public-employee compensation two years ago made him a national model of Republican strength, now is trying to scrap century-old civil-service rules.
Occidental Petroleum Corp. Chairman Ray Irani may be eligible for a lump-sum severance payment of about $38 million and annual payments of $2.2 million if he is forced out by investors in a vote today.
Occidental Petroleum Corp. Chief Executive Officer Steve Chazen will keep his post through the end of 2014 as the company announced changes to its compensation plan and restrictions on who may serve as chairman.
Averting a retirement crisis in the U.S. requires fresh thinking, not to mention political will. Ideas range from a restructuring of Social Security to beefing up employer-sponsored retirement plans to creating a new tier of mandated retirement accounts. Vanguard Group founder Jack Bogle, Senior Adviser to the Treasury Secretary Mark Iwry, former SEC Commissioner Harvey Pitt and others share their thoughts on what needs to be done.