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2 Congressmen Look to Deflate Golden Parachutes
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The chairman of a House subcommittee has asked Secretary of
Defense Caspar Weinberger to change Pentagon rules that allow defense
contractors to bill the government for so-called "golden parachutes"
paid to top corporate executives.
Golden parachutes are usually defined as lucrative compensation
packages for executives that are triggered in the event of a
corporate takeover.
Congressional staffers say such arrangements in the defense
industry, as in others, have been proliferating in recent years as
companies adopt a variety of measures to protect themselves and their
executives from ...
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