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Article: Questions Arise over Newport News, Va., Shipbuilder's Executive Pay.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 16, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Apr. 13--NEWPORT NEWS, Va.--For the second year in a row, Newport News Shipbuilding Chairman William P. Fricks has seen his pay at least double.
Last year, Fricks, who is also the shipyard's chief executive, earned $2.74 million in salary, bonuses and other compensation, according to the Newport News-based firm's annual proxy statement.
Fricks made $1.33 million in 1998 and $593,836 in 1997.
During last year's strike against the yard by Local 8888 of the United Steelworkers of America, union officials tried to make an issue out of the disparities in compensation between the yard's executives and its production employees.
Local 8888 ...