EXECUTIVE PAY
LEWIS Carroll's Red Queen had to run as fast as she could to stay where she was. Many U.S. executives have the same feeling. When they get a raise, taxes take so much that they have little of it left in real income. To find other ways to reward them, U.S. industry is evolving a system of weird and complex devices known as "gimmicks." Says RCA's Chairman David Sarnoff: "You can't compete for executive talent today without a gimmick."
The problem of a $175,000 executive who is able to keep only $48,000 in take-home pay is not one calculated to arouse...
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