Union Pacific CEO got 20 percent increase in compensation (while laying off more workers)

[Omaha Steve]

http://omaha.com/index.php?u_page=1208&u_sid=10602541

Published Saturday April 4, 2009
Union Pacific CEO got 20 percent increase in compensation
BY JOE RUFF
WORLD-HERALD STAFF WRITER

Union Pacific Corp. CEO Jim Young received a nearly 20 percent increase in total compensation for 2008 to $11.65 million, the company said Friday in a regulatory filing.

Citing last year's 10 percent increase in revenue to $18 billion as well as other accomplishments despite the national recession, the Omaha-based freight railroad increased Young's salary by 5 percent to $1.15 million and increased his bonus by 13 percent to $3 million. Young also received $7.5 million in stock awards.

U.P. officials said the company's top 150 executives would not receive a pay raise in 2009 because of the recession.

[murielm99]

1. Yes. That's my brother's company.

He was just complaining to me about the CEO's salary. My brother now has fewer workers to help him with his job, and no pay increase to compensate for the extra work.

[terisan]

2. Squeeze the workers and raise the stock price; then collect on those options. nt

[blueknight]

3. im a retired csx railroad engineer

we used to have 5 people on each train, now they have two