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BUSINESS 6C WEDNESDAY, MAY 28, 2014

Name Symbol Close Change


AimEnergyFund FSTEX 49.62 0.08
AimDiverDividend LCEIX 17.73 0.06
AmCenEqGroInv TWEIX 9.01 0.03
AmCenEqInFun BEQGX 32.12 0.16
AmCenInc&Gro BIGRX 37.71 0.17
AmFundEuroPac AEPGX 50.38 0.25
AmDFSHiIncTr AHITX 11.5 0.01
AmericanIncome A AMECX 21.55 0.05
AmeriWashington AWSHX 40.84 0.17
Ariel ARGFX 73.17 0.46
Ariel Appreciation CAAPX 55.36 0.21
Ariel Focus ARFFX 14.66 0.01
BlackRockBasVal MALOX 21.86 0.05
BlackRockGlobal MABAX 32.05 0.14
CapIncBuilderA CAIBX 60.83 0.2
CapWrldGrwth&Inc CWGIX 47.44 0.22
DreyfusMuniBond DMB 12.03 0
EastonVanceIncFnd EVIBX 6.13 0
FranInTaxFreeInc A FTFIX 12.28 0
FidelDiscEquFund FDEQX 33.41 0.15
FidelDivStkO FDESX 23.93 0.15
FidelMagellen FMAGX 89.83 0.81
FidelValFund FDVLX 108.92 0.57
Harbor Intern HAINX 73.87 0.51
INGgro income AAGIX 17.75 0.11
INGemerg mkt IEMHX 11.61 -0.09
InvescoMidCapGro VGRAX 38.18 0.33
Ivy CundillGloVal ICDAX 18.17 0.04
Ivy EuropOpport IEOAX 30.08 0.27
Ivy GlobNatRes IGNAX 19.76 0.02
Ivy IntBalanced IVBAX 15.99 0.06
JanusContrar JSVAX 22.51 -0.02
JanusOrion JORNX 13.04 0.1
PimcoHighIncome PHK 13.05 0.02
PioneerValFun PIOTX 16.14 0.12
SchGloReaEst SWASX 7.09 0.05
SchHealCarFun SWHFX 25.05 0.2
SchLargCapGro SWLSX 17.11 0.13
SSgAIntStocSel SSAIX 11.39 0.09
Templeton Growth TEPLX 26.13 0.1
TRowPriEquitInco PRFDX 33.71 0.16
TRowPriIntBond RPIBX 9.81 0.01
TempEmMarSmCp TCEMX 11.85 -0.09
USAAInternational USIFX 31.27 0.2
USAAInc. Stock USISX 17.71 0.06
USAATxExmt LT USTEX 13.68 0
VanKampGroInc ACGIX 27.88 0.11
VangCapOpp VHCOX 48.75 0.4
VangEnergyAdm VGELX 137.05 0.05
VangEnergInvShar VGENX 73.01 0.03
VangHealthCare VGHCX 197.83 1.08
VangInternValFun VTRIX 38.39 0.13
VangPrimCapCore VPCCX 20.8 0.1
VangSelectVal VASVX 29.17 0.15
VangStarFund VGSIX 24.8 0.18
VangMidCapInd VMVIX 33.09 0.18
VangWellesInvSha VWINX 25.8 0.06
VangWellinInvShar VWELX 39.41 0.12
VangWindAdm VWNEX 72.3 0.37
WadReedAssetStrtgy UNASX 11.51 0.04
WadReedCoreInv UNCMX 7.48 0.07
WadReedHiIncome UNHIX 7.71 0
WadReedNewConc UNECX 11.7 0.09
WadReedSci&Tec UNSCX 15.91 0.22
WadReedValueA WVAAX 17 0.09
ZweigTotRetInc ZTR 14.13 0.04
Name Symbol Close Chg.
3M MMM 141.44 0.3
AbbVie ABBV 53.99 0.04
Abbot Labs ABT 39.58 -0.02
AlcatelLuc ALU 3.98 0.11
Alcoa AA 13.48 -0.04
AllState ALL 58.46 0.08
Altria MO 40.77 0.09
AmElcPwr AEP 52.7 1.29
ApolloInvest AINV 8.31 0.03
AppleCom AAPL 625.63 11.5
AT &T T 35.21 -0.11
ABInBev AHBIF 110.3 1.08
BanofAmer BAC 15.22 0.5
BancFirst BANF 59.44 0.83
Barn&Noble BKS 18.41 1.57
BlackBerry BBRY 7.28 0.05
Boeing BA 134.17 1.76
BristolMyers BMY 48.89 0.1
British Petr. BP 50.7 -0.4
CBS CBS 60.46 -0.29
Chesapeake CHK 28.32 0.64
CentPoint CNP 23.96 0.09
Chevron CVX 122.84 -0.53
Cisco CSCO 24.71 0.19
Citigroup C 47.57 0.28
CocaCola KO 40.77 0.19
ComCast CMCSA 52.06 0.09
ConAgra CAG 31.56 -0.05
ConoPhillips COP 79.04 0.61
Corning GLW 21.44 0.11
CVS CVS 77.17 0.05
Daimlr AG DDAIF 94.57 1.88
DeVry Inc. DRI 49.75 0.2
Dillards DDS 112.58 2.81
DIRECTV DTV 82.74 -0.86
DisFinSvcs DFS 58.08 0.8
DollarTree DLTR 53.17 0.49
DomResrce D 69.42 0.1
DoverDowns DDE 1.4 0.02
DukeEnergy DUK 70.46 0.18
Eli Lilly LLY 59.73 -0.07
Energizer ENR 114.69 0.47
EricssonTel ERIC 12.36 0.11
Etrade ETFC 20.27 -0.05
Facebook FB 63.48 2.13
Ford F 16.16 0.14
FreddieMacFMCC 4.41 0.08
GenDynam GD 116.35 0.86
GenElectric GE 26.57 0.06
GenMills GIS 54.24 0.43
GoldSachs GS 161.77 1.61
Goodyear GT 26.3 0.66
Google GOOG 565.9513.25
Halliburton HAL 63.97 -0.04
HastEnter HAST 2.95 0
Hess Oil HES 89.43 -0.43
Hew-Pack HPQ 33.1 -0.62
HomeDepo HD 79.69 0.51
IllToolWks ITW 86.72 0.32
IBCBank IBOC 24.67 0.52
IBM IBM 184.78 -1.16
Intel INTC 26.710.421
JCPenney JCP 8.85 -0.16
John&John JNJ 100.81 -0.17
Kellogg K 67.98 0.42
Lowes LOW 47.78 0.72
LSI Corp LSI 11.14 0
McDonalds MCD 102.36 0.36
MDURes. MDU 33.82 -0.25
Merck MRK 56.69 -0.12
MGMResort MGM 25.62 0.55
MetLife MET 51.56 0.8
Microsoft MSFT 40.19 0.07
Morg Stan MS 31.12 0.63
MylanLabs MYL 48.42 0.4
NCR NCR 32.72 0.26
Nor-Grumn NOC 120.17 0.15
NovaGold NG 2.94 -0.24
OccidPetro OXY 97.45 0.48
ONEOK OKE 64.8 -0.01
Oracle ORCL 41.91 -0.24
Pepsico PEP 86.53 0.7
Pfizer PFE 29.61 0.12
Post Holdg. POST 49.6 0.3
PowrShares QQQ 91.00 1.12
PrinFinGrp PFG 46.8 0.34
Proc&Gam PG 80.08 -0.44
Prudential PRU 83.11 1.39
Raytheon RTN 96.82 -0.21
RoyDuShellRDS-A 78.46 -0.63
RoyalGold RGLD 61.14 -2.84
RoyaleEng ROYL 3.06 -0.05
Sridge Engy SD 6.56 0.01
Sears SHLD 37.64 0
SherwinWil SHW 202.02 -0.39
CGIGroup GIB 34.29 0.06
Staples SPLS 11.42 -0.23
Target TGT 55.77 0.08
TevaPharm TEVA 51.89 0.12
TimeWarn TWX 70.59 -0.09
Twitter TWTR 30.51 0.01
Verizon VZ 49.62 -0.12
Viacom VIAB 85.35 0.36
Vodafone VOD 34.87 0.27
Walgreens WAG 70.24 0.45
Wal-Mart WMT 75.59 -0.02
Wells Fargo WFC 50.55 0.39
Westar En. WR 35.55 0.08
WynnRes WYNN 215.65 7.79
XCEL XEL 30.37 0.13
Yahoo YHOO 35.12 0.1
Stocks
Mutual funds
To add a stock or mutual fund please send name and symbol to stocks@lawton-constitution.com.
Market watch
May 27, 2014
Russell
2000
Standard &
Poors 500
Nasdaq
composite
Dow Jones
industrials
1,142.20
+16.01
+69.23
16,675.50
4,237.07
+51.26
1,911.91
+11.38
Metals
Futures
Grains
Livestock
Bonds
Fuels
NEW YORK (AP) Futures trading on the New
York Mercantile Exchange Tue.:
Light sweet crude($per bbl) Jul 104.11 0.24
Heatingoil ($per gallon) Jun 2.9399 .0150
Gasoline($per gallon) Jun 2.9952 .0283
Natural gas ($per 1,000btu) Jun 4.505 +.100
Gasoline
Todays
lowest
prices:
City Monday Last week This week.
Altus 3.31 3.31
Chickasha 3.49 3.49
Chickasha(toll plaza) 3.27 3.27
Duncan 3.39 3.39
Lawton 3.28 3.26
Norman 3.29 3.19
Oklahoma City 3.11 3.17
Wichita Falls 3.26 3.26
Source: Gasbuddy.com
Oklahoma City
Cow and Bull Auction Report for Tue
05/27/2014
Receipts: 310 Last Week: 898 Last
Year: 555 Receipts Monday: Holiday
Compared to last week: A light supply of
slaughter cows and bulls sold mostly steady on
limited offerings. Packer demand moderate.
Total of 162 cows and bulls sold with 41 per-
cent going to packers.
Slaughter Cows: Breakers 10 head, 75-80%
lean, 1150-1625 lbs, avg dress 103.00-108.00,
hi dress --, low dress 100.00; Boners 23 head,
80-85% lean, 1000-1450 lbs, avg dress 104.00-
108.00, hi dress 110.00-111.50, low dress
99.00-101.50; Lean 25 head, 85-90% lean,
1000-1300 lbs, avg dress 100.00-106.00, hi
dress 108.00-110.00, low dress 96.00-99.00;
Light 3 head, 80-90% lean, 800-1000 lbs, avg
dress 89.00-92.00, hi dress --, low dress --.
Slaughter Bulls: Y.G. 1-2, 5 head, 1300-
1565 lbs, avg dress 124.00-130.00, hi dress --,
low dress 114.00-118.00.
The estimated dressed cost at the Oklahoma
National Stockyards; Lean N/A; Boners N/A;
Breakers N/A; Light Leans N/A. Bulls N/A.
Replacement Cows: Pre-tested for preg-
nancy and age. Medium and Large 1-2:
Heifers, 900-1050 lbs, 6-7 months, avg black,
1460.00-1525.00; 3-7 yr old, 1100-1450 lbs,
4-7 months bred, hi black, 1525.00-1600.00;
3-7 yr old, 1100-1425 lbs, 4-7 months bred,
avg black, 1410.00-1500.00; 8-10yr old, 1050-
1300 lbs, 2-6 months bred, avg quality,
1150.00-1260.00.
NEW YORK (AP) Spot nonferrous metal
prices T.
Aluminum -$0.8080 per lb., London Metal Ex.
Copper -$3.1709 Cathode full plate, LME.
Copper -$3.1835 N.Y. Merc spot Tue.
Lead - $2123.00 metric ton, LME.
Zinc - $0.9450 per lb., LME.
Gold - $1275.50 Handy & Harman.
Gold - $1265.40 troy oz., NY Merc spot Tue.
Silver - $19.075 Handy & Harman.
Silver - $19.039 troy oz., N.Y. Merc spot Tue.
Platinum -$1467.00 troy oz., Handy & Harman.
Platinum -$1462.30 troy oz., N.Y. Merc spot Tue.
By The Associated Press
Key barometers in the Treasury market late
Tuesday, compared with late Friday. Price
changes in the 10-year note and 30-year bond
are per $100 invested:
Prices
Today Pvs Session
10-year note +9.375 cents +21.9 cents
30-year bond +68.75 cents +53.1 cents
Yields
1-month bill 0.02 0.03
3-month bill 0.02 0.02
6-month bill 0.04 0.04
2-year note 0.35 0.35
5-year note 1.53 1.53
10-year note 2.52 2.53
30-year bond 3.36 3.40
Inflation note 0.29 0.30
Federal Funds 0.09 0.09
Municipal Bonds (1) 4.51 4.51
CHICAGO (AP) Wheat futures trading on
the Chicago Board of Trade Tue.:
5,000 bu minimum; cents per bushel
Open High Low Settle Chg.
Jul 645 648 640 641 11
Sep 658 659 652 653 10
Dec 675 679 671 672 9
Mar 689 696 688 689 9
May 698 704 696 697 10
Jul 700 710 698 69910
Sep 715 715 704 70411
Dec 716 717 712 71211
Mar 718 718 716 716 11
May 724 724 715 715 9
Jul 693 696 692 692 3
KANSAS CITY (AP) Wheat futures on the
Kansas City Board of Trade Tue:
5,000 bu minimum; cents per bushel
Open High Low Settle Chg.
Jul 741 747 736 738 6
Sep 748 753 743 745 7
Dec 761 765 755 756 7
Mar 761 768 760 760 7
May 763 763 758 758 6
Jul 751 755 750 750 6
Sep 757 757 751 751 6
Dec 764 764 758 758 5
Mar 763 763 760 760 2
May 758 758 756 756 2
Jul 719 723 719 723 +3
Oklahoma grain elevator cash bids as of 2:00
pm Tuesday.
U.S. No 1 HARD RED WINTER WHEAT: .07
lower. 6.98-7.28. Banner, El Reno 6.98, Alva,
Buffalo, Manchester, Ponca City, Shattuck, 7.01,
Cherokee 7.03, Medford, 7.04, Clinton, Geary,
Okarche, Okeene, Watonga, Weatherford 7.06,
Davis 7.08, Frederick, Hobart 7.13, Perry,
Stillwater, Temple 7.18, Hooker, Keyes 7.20,
Lawton 7.23, Eldorado 7.28, Gulf 8.08.
MILO: .14 to .15 lower. 7.68-7.89. Alva,
Buffalo, Manchester, Medford, Ponca City,
Shattuck 7.68, Weatherford 7.77, Keyes 7.86,
Hooker 7.89.
SOYBEANS: .27 lower. 14.15-14.37. Hooker
14.15, Shattuck 14.30, Alva, Buffalo 14.31,
Stillwater 14.36, Medford, Ponca City 14.37,
Gulf 15.68.
CORN: .08 lower. 4.40-4.90. Manchester,
Medford, Ponca City 4.40, Keyes, Weatherford
4.85, Hooker 4.90, Gulf 5.31 3/4.
CANOLA (CWT) 18.98-19.40: Red Rock
18.98, Dacoma 19.08, Apache, Clyde, McWillie
19.28, Bison 19.36, El Reno 19.38, Hillsdale
19.40.
Grade 41, Leaf 4, Staple 34 Cotton in
Southwestern Oklahoma averaged 76.50 cents
per pound.
AT&T Tuesday announced
that Steve Hahn has been
named president of AT&T
Oklahoma.
Hahn most recently
served as president of
AT&T Kansas.
As president of AT&T Ok-
lahoma, Hahn will oversee
the companys local, state
and federal government re-
lations ef-
forts in the
state, in ad-
dition to
w o r k i n g
closely with
community
and business
l e a d e r s ,
elected offi-
cials and
others at
AT&T to continue to bring
advanced communications
technologies, including 4G
LTE and other broadband
services, to consumers and
businesses.
I am honored to join a
tremendous AT&T team
here in the Sooner State,
Hahn said. I look forward
to helping continue our
legacy of investment, job
creation, innovation and
community engagement
across Oklahoma.
Hahn has held numerous
key leadership positions at
AT&T. Prior to serving in
his most recent role as pres-
ident of AT&T Kansas, he
was director of external af-
fairs at AT&Ts corporate
headquarters in Dallas,
where he played a key role
in the deployment of
AT&Ts U-verse TV service
in 22 states. Prior to that as-
signment, Hahn led the 3-
Screen Operations team in
AT&T Entertainment Ser-
vices, where he directed the
first initiatives to deliver on
the companys commitment
to offer compelling content
across televisions, comput-
ers and wireless devices.
Hahn is a graduate of Uni-
versity of Texas at Austin
and earned his Master of
Business Administration
degree from Texas A&M
University.
AT&T Okla.
president
named
HAHN
WASHINGTON (AP)
Safety regulators have qui-
etly placed two extra condi-
tions on construction of
TransCanada Corp.s Key-
stone XL oil pipeline after
learning of potentially dan-
gerous construction defects
involving the southern leg
of the Canada-to-Texas proj-
ect.
The defects high rates
of bad welds, dented pipe
and damaged pipeline coat-
ing have been fixed. But
the federal Pipeline and
Hazardous Materials Safety
Administration wants to
make sure similar problems
dont occur during con-
struction of the pipelines
controversial northern seg-
ment, which is on hold pend-
ing a decision by the Obama
administration.
One condition requires
TransCanada to hire a third-
party contractor chosen by
the pipeline safety agency
to monitor the construction
and make reports to the U.S.
government on whether the
work is sound.
The second requires
TransCanada to adopt a
quality management pro-
gram to ensure this
pipeline is from the be-
ginning built to the high-
est standards by both Key-
stone personnel and its
many contractors.
The conditions are buried
near the end of the 26 ap-
pendices in a voluminous
environmental impact
statement on Keystone XL
released by the State De-
partment on Jan. 31.
Most of Appendix Z is de-
voted to 57 well-known
special conditions that
TransCanada agreed to
three years ago. But condi-
tions 58 and 59 are listed on
an additional page.
Everybody looked at that
appendix and said, Oh, 57
conditions. Move on. Well,
there are a couple more
there, energy analyst
Kevin Book said. They just
added them without saying
anything.
The new conditions were
added four months after the
pipeline safety agency sent
TransCanada two warning
letters last year about de-
fects and other construction
problems on the Keystone
Gulf Coast Pipeline, which
extends from Oklahoma to
the Texas Gulf Coast.
From the start of weld-
ing, TransCanada experi-
enced a high weld rejection
rate, said one letter dated
Sept. 26. Over 72 percent of
welds required repairs dur-
ing one week. In another
week, TransCanada stopped
welding work after 205 of
425 welds required repair.
Inspections by the safety
agency found TransCanada
wasnt using approved
welding procedures to con-
nect pipes, the letter said.
The company had hired
welders who werent quali-
fied to work on the project
because TransCanada used
improper procedures to test
them, the letter said. In or-
der to qualify to work on a
pipeline, welders must have
recent experience using ap-
proved welding procedures
and pass a test of their
work.
The weld failure rates are
horrible, said Robert Bea,
professor emeritus of civil
and environmental engi-
neering at the University of
California, Berkeley. The
level of defects is indeed
cause for alarm and indica-
tive of something that is go-
ing on in the Keystone or-
ganization that isnt satis-
factory.
In high-risk projects such
as nuclear submarines or
nuclear power plants, even
one-tenth of a percent rate
of bad welds would be cause
for deep concern, Bea said.
He is a certified welder and
was an expert consultant on
the construction of the
trans-Alaska pipeline in the
1970s.
In this case, you are talk-
ing about a pipeline that has
requirements on its per-
formance that rival those of
a nuclear power plant, he
said.
Another letter, dated
Sept. 10, said a government
inspector witnessed Tran-
sCanada officials investi-
gating dents in pipeline that
had been laid without first
sufficiently clearing rock
from trenches or from soil
used as backfill. The same
letter said coating that pro-
tects pipeline from corro-
sion was damaged by weld
splatter because a contrac-
tor hadnt followed the com-
panys welding procedures.
Eventually, pipeline was ex-
cavated in 98 places to make
coating repairs.
New safety requirements
quietly set for Keystone pipeline
AP
In this 2012 file photo, large sections of pipe are shown in Sumner
Texas.
NEW YORK (AP)
Stocks rose Tuesday after
the government reported
that orders for big-ticket
items rose unexpectedly
last month. Hillshire
Brands jumped after poul-
try producer Pilgrims
Pride offered to buy the
meat producer.
KEEPING SCORE: The
Standard & Poors 500 in-
dex rose eight points, or 0.5
percent, to 1,909 as of 12:39
p.m. Eastern time. The
Dow Jones industrial aver-
age gained 55 points, or 0.3
percent, to 16,661. The
Nasdaq composite climbed
36 points, or 0.9 percent, to
4,223. The stock market
was closed Monday for
Memorial Day.
BIG TICKET ITEMS: Or-
ders to U.S. factories for
long-lasting manufactured
goods unexpectedly crept
higher in April, powered
by a surge in demand for
military aircraft. The Com-
merce Department said or-
ders for durable goods rose
0.8 percent in April. Econo-
mists had predicted that
orders would decline.
ANOTHER MILE-
STONE: The S&P 500 in-
dex, the benchmark for
most U.S. mutual funds,
closed above 1,900 for the
first time Friday. The in-
dex has gained 3.2 percent
so far this year, after surg-
ing almost 30 percent in
2013.
THE QUOTE: Although
stocks are no longer cheap
on an absolute level, they
still look good compared to
bond prices, said Jeff
Knight, Head of Global As-
set Allocation at Columbia
Management, an asset
management company.
Stocks are still very at-
tractive relative to bonds,
and I think thats the key
trade-off, said Knight.
While the stock market
has made modest gains this
year, bonds have surged,
contrary to the expecta-
tions of many analysts,
who had forecast that bond
prices would drop as the
economy strengthened.
MEATY MERGER: Hill-
shire Brands, the maker of
Jimmy Dean breakfast
sausage and other meat
products, jumped $8.04, or
22 percent, to $45.06 after
poultry producer Pilgrims
Pride offered to acquire
the company in a deal
worth about $5.6 billion.
SECOND TRY: Bank of
America said its resubmit-
ting a review of its opera-
tions to the Federal Re-
serve a month after it dis-
covered errors in its initial
report, forcing the bank to
suspend a dividend in-
crease and a plan to buy
back more of its own
shares. The banks stock
rose 53 cents, or 3.6 per-
cent, to $15.26.
PAPER CUT: Staples fell
21 cents, or 1.8 percent, to
$11.45 after Goldman
Sachs cut its earnings out-
look for the office supplies
retailer. Analysts at the
bank expect profit margins
at Staples to fall due to its
ongoing program of invest-
ment and diversification.
CONFIDENCE RISING:
U.S. consumers were
slightly more confident in
the economy in May than in
April, partly because they
are more optimistic about
future hiring and income
gains. The Conference
Board said Tuesday that its
confidence index rose to 83
from 81.7 in April.
Consumers were more
positive about the outlook
for the labor market. Those
anticipating more jobs in
the months ahead in-
creased to 15.4 percent
from 14.7 percent.
BONDS AND COM-
MODITIES: The yield on
the 10-year Treasury note
was unchanged from Fri-
day at 2.53 percent. Crude
oil slipped 51 cents, or 0.5
percent, to $103.82 a bar-
rel. Gold fell $24.40, or 1.9
percent, to $1,267.20 an
ounce.
Stocks climb after orders for
durable goods rise last month
AP
Traders gather at the post that handles Provectus
Biopharmaceuticals on the floor of the New York Stock Exchange,
Tuesday.
WASHINGTON (AP) Pay for
globe-trotting CEOs has soared to
new heights, even as most workers
remain grounded by paychecks
that are barely budging.
While pay for the typical CEO of
a company in the Standard &
Poors 500 stock index surged 9
percent last year to $10.46 million,
it rose a scant 1.3 percent for U.S.
workers as a whole. That CEO now
earns 257 times the national aver-
age, up from a multiple of 181 in
2009, according to an analysis by
The Associated Press and Equilar.
Those figures help reveal a
widening gap between the ultra-
wealthy and ordinary workers
around the world. That gap has fed
concerns about economic security
everywhere from large cities
where rents are high to small
towns where jobs are scarce.
Here are reasons why CEOs are
enjoying lavish pay increases and
reasons many people are stuck
with stagnant incomes.
n Theyre paid heavily in stock.
Unlike most workers, chief ex-
ecutives receive much of their
compensation in the form of com-
pany stock a lot of it. The theory
behind compensating CEOs this
way is that it aligns the interests of
senior management with those of
shareholders, which would seem
beneficial for a company.
The stock rally has been fueled
in part by historically low interest
rates engineered by the Federal
Reserve. Those rates led many in-
vestors to shift money out of low-
yielding bonds and into stocks.
n Peer pressure.
Corporate boards often set CEO
pay based on what the leaders of
other companies make. No board
wants an average CEO. So
boards tend to want to pay their
own CEO more than rival CEOs
who are chosen for benchmarking
compensation packages.
n Blame the robots.
Millions of factory workers
have lost their spots on assembly
lines to machines. Offices need
fewer secretaries and bookkeep-
ers in the digital era.
n High unemployment.
The aftermath of the Great Re-
cession left a glut of available
workers. Businesses face less
pressure to give meaningful raises
when a ready supply of job seek-
ers is available. Theyre less fear-
ful that their best employees will
defect to another employer.
n Weaker unions.
Organized labor no longer com-
mands the heft it once did. More
than 20 percent of U.S. workers
were unionized in 1983, compared
with 11.3 percent last year, accord-
ing to the Bureau of Labor Statis-
tics. That has drastically reduced
the unions sphere of influence.
Result: Fewer workers can collec-
tively negotiate for raises.
Here is why the CEO got a huge raise and you didnt