Business Services Industry
Reporter's Notebook; Private equity may affect salaries soon.(Focus)
Crain's Detroit Business, May, 2007
Byline: Brent Snavely There is a trend in executive compensation in metro Detroit that could usher in changes that are even more sweeping than the U.S. Securities and Exchange Commission's 436-page rule-changes adopted last fall: private-equity firms. Private equity and hedge funds either control or are pursuing acquisitions of automotive suppliers with $56.08 billion in annual sales over the past year, according to Crain's sister publication Automotive News.
"That will have an influence on and is having an influence on the compensation of executives in this market,'' said Ed Steinhoff, principal for Mercer Human Resource Consulting and head of its executive compensation practice in Detroit. For publicly traded companies, "pay for performance'' has...
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