The bottom line

CEOs face second pay decline since 1989

The median salary and bonuses for the CEOs of 200 large U.S. companies fell 8.5 percent in 2008, to $2.24 million, according to management consultant Hay Group. Corporate profits fell 5.8 percent over the same period. It’s only the second pay decline since 1989.

The Wall Street Journal

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up

Sallie Mae to close overseas operations

Student lender Sallie Mae is closing down call centers and IT operations in India and other foreign countries and bringing the jobs back to the United States. Sallie Mae, which employs 8,000 people nationwide, expects to add 2,000 jobs to its U.S. payroll within 18 months.

Yahoo Finance

Lower opening-day payroll for baseball teams

Nearly half of Major League Baseball’s 30 teams had a lower opening-day payroll than they did a year ago. The New York Yankees still lead with a $201.4 million payroll, but that’s down $8 million from last year.

USA Today

GM to auction 200 vintage cars

General Motors will auction off some 200 vehicles from its collection of more than 1,000 vintage and one-of-a-kind cars. On the block are a Cadillac limousine made for Pope John Paul II and a presidential limousine replica used in the Clint Eastwood film In the Line of Fire.

Auto Racing Daily

Some of the richest taxpayers pay less than 10%

Of the 400 richest taxpayers in the U.S., 31 paid taxes at an effective rate of less than 10 percent last year, thanks to tax deductions, tax-free earnings, and other maneuvers, according to the IRS.

The Economist