Financial Times (June 28)
TSE-listed companies are now disclosing the salaries of individuals earning more than 100 million yen. This is a welcome step. Despite the uproar, it’s natural that heads of global groups, such as Nissan or Sony, receive greater pay than executives focusing on the domestic market. In fact, the Financial Times hopes even “greater pay differentials” will result. Managers that generate cash, rather than just hording it, deserve higher salaries. During 2010, Japanese companies are expected to generate less than half the return on equity of other stocks in the developed world. Higher salaries could “be both useful and justified” in raising corporate performance.
Tags: Executive pay, ROE, TSE
Chicago Tribune (June 28)
The Supreme Court effectively struck down Chicago’s ban on handguns. Last weekend, 26 people were shot and 3 killed. The weekend before the totals were double: 50 shot and 8 killed. “Chicago has to win the daily struggle on its streets.” Without the handgun ban, the city will need to look for new options.
Tags: Chicago, Handguns, Supreme Court
