What happens when the ‘Average Joe’ gets caught committing a crime? He or she usually gets the book thrown at them, most often spending time in the slammer. However, what happens when “corporations too big to fail” get caught with “their hands in the cookie jar,” so to speak? Not very many folks pay the time, but the corporate treasury pays the fine. Why? Apparently, large sums of money can “absolve corporate sins” time after time after time. One industry that has had enormous fines levied against it is the pharmaceutical industry, also known as Big Pharma. (more…)
A year after an embarrassing trading blowup led to millions of dollars being docked from Jamie Dimon’s paycheck, the chairman and chief executive of JPMorgan Chase is getting a raise.
JPMorgan’s board voted this week to increase Mr. Dimon’s annual compensation for 2013, hashing out the pay package after a series of meetings that turned heated at times, according to several executives briefed on the matter. The raise — the details were not made public on Thursday — follows a move by the board last year to slash Mr. Dimon’s compensation by half, to $11.5 million.