The executive pay cirsis.

THE EXECUTIVE PAY CRISIS -- Big Bucks, Mixed Results

Next Week

The Top 25 Airlines and Travel Agencies in L.A. County



          Executive                            Company
Rank      * title                             * ticker

   1      Charles Munger                Wesco Financial Corp.
          chairman, ceo                          WSC

   2      A. Jerrold Perenchio                Univision
          chairman, ceo                  Communications Inc.
                                                 UVN

   3      B.W. Hughes                    Public Storage Inc.
          chairman, ceo                          PSA

   4      John Bryson                   Edison International
          chairman, president, ceo               EIX

   5      David Gold                    99 Cents Only Stores
          chairman, ceo                          NDN

   6      Robert Eckert                      Mattel Inc.
          chairman, ceo                          MAT

   7      George Joseph                 Mercury General Corp.
          chairman, ceo                          MCY

   8      Alexander Lidow (1)       International Rectifier Corp.
          ceo                                    IRF

   9      Jay Gellert                      Health Net Inc.
          president, ceo                         HNT

  10      Gary M. Cusumano                 Newhall Land &
          president, ceo                     Farming Co.
                                                 NHL

  11      Philip Neal                   Avery Dennison Corp.
          chairman, ceo                          AVY

  12      Russell Goldsmith              City National Corp.
          vice chairman, ceo                     CYN

  13      Van Honeycutt                Computer Sciences Corp.
          chairman, ceo                          CSC

  14      Stephen F. Bollenbach          Hilton Hotels Corp.
          president, ceo                         HLT

  15      David H. Murdock                  Dole Food Co.
          chairman, ceo                          DOL

  16      Angelo Mozilo                  Countrywide Credit
          chairman, president, ceo         Industries Inc.
                                                 CCR

  17      David Overton                  Cheesecake Factory
          chairman, ceo                         CAKE

  18      Richard S. Ziman                Arden Realty Inc.
          chairman, ceo                          ARI

  19      Kent Kresa                   Northrop Grumman Corp.
          chairman, ceo                          NOC

  20      Michael Ziering             Diagnostic Products Corp.
          chairman, ceo                          DP

  21      Arthur M. Coppola                 Macerich Co.
          president, ceo                         MAC

  22      Leonard Schaeffer               Wellpoint Health
          chairman, ceo                       Networks
                                                 WLP

  23      David H. Hannah                 Reliance Steel &
          ceo                               Aluminum Co.
                                                 RS

  24      Ronald L. Havner Jr.         PS Business Parks Inc.
          chairman, president, ceo               PSB

  25      Ted Meisel                   Overture Services Inc.
          president, ceo                        OVER
  26      Joel S. Marcus               Alexandria Real Estate
          ceo                               Equities Inc.
                                                 ARE

  27      Louis L Borick (2)             Superior Industries
          chairman, president               International
                                                 SUP

  28      Robert Kotick                    Activision Inc.
          co-chairman, ceo                      ATVI

  29      R.C. Dreler, chairman           Ryland Group Inc.
          president, ceo                         RYL

  30      Kent Thiry, chairman               DaVita Inc.
          ceo                                    DVA

  31      Noel G. Watson                 Jacobs Engineering
          ceo                                Group Inc.
                                                 JEC

  32      Dominic Ng                   East-West Bancorp Inc.
          chairman, president, ceo              EWBC

  33      Joel Hollander                  Westwood One Inc.
          president, ceo                         WON

  34      Brian J Farrel                      THQ Inc.
          cha rman president, ceo               THQI

  35      Michael W. Perry              IndyMac Bancorp Inc.
          Vice chairman, ceo                     NDE

  36      Richard B. Handler            Jeff eries Group Inc.
          charman ceo                            JEF

  37      Bruce Karatz                         KB Home
          chairman ceo                           KBH

  38      John Poe                          Semlech Corp.
          chairman president, ceo               SMTC

  39      Charles Williamson                Unocal Corp.
          chairman ceo                           UCL

  40      Ray Irani                  Occidental Petroleum Corp.
          chairman ceo                           OXY

  41      Kevin Sharer                       Amgen Inc.
          chairman, president, ceo              AMGN

  42      Jack A. Shaw                Hughes Electronics Corp.
          president, ceo                         GMH

  43      Robert E. Whalen                  Unilab Corp.
          chairman, president, ceo              ULAB

  44      Jose A. Collazo              Infonet Services Corp.
          44 chairman, president,                IN
          ceo

  45      Bruce W. Marlow                   21st Century
          Vice chairman,                   Insurance Group
          president, ceo                         TW

  46      Michael Eisner                   Walt Disney Co.
          chairman, ceo                          DIS

  47      Walter F. Uloa                     Entravision
          chairman, ceo                 Communications Corp.
                                                 EVC

  48      John Pleasants                    Ticketmaster
          president, ceo                        TMCS

  49      Alex Yemenidjian             Metro-Goldwn-Mayer Inc.
          chairman, ceo                          MGM

  50      Henry Vuen                      Germstar-TV Guide
          chairman, ceo                  International Inc.
                                                GMST

                                          IN THOUSANDS
                                                        Other
          Executive                  2001     2001      Short
Rank      * title                   Salary    Bonus     Term

   1      Charles Munger              $0       $0        $0
          chairman, ceo

   2      A. Jerrold Perenchio         0        0         0
          chairman, ceo


   3      B.W. Hughes                 60        0        19
          chairman, ceo

   4      John Bryson                 950     1,350      0.4
          chairman, president, ceo

   5      David Gold                  182       0         0
          chairman, ceo

   6      Robert Eckert              1,250     803        0
          chairman, ceo

   7      George Joseph               568      229        0
          chairman, ceo

   8      Alexander Lidow (1)         700       0         0
          ceo

   9      Jay Gellert                 687       0        70
          president, ceo

  10      Gary M. Cusumano            336      543       67
          president, ceo


  11      Philip Neal                 872      500        0
          chairman, ceo

  12      Russell Goldsmith           808      896        0
          vice chairman, ceo

  13      Van Honeycutt              1,164      0         0
          chairman, ceo

  14      Stephen F. Bollenbach      1,000     900        0
          president, ceo

  15      David H. Murdock            800      900        0
          chairman, ceo

  16      Angelo Mozilo              1,458    4,654      40
          chairman, president, ceo


  17      David Overton               450      88        14
          chairman, ceo

  18      Richard S. Ziman            550      415       14
          chairman, ceo

  19      Kent Kresa                 1211     3000       25
          chairman, ceo

  20      Michael Ziering              0        0         0
          chairman, ceo

  21      Arthur M. Coppola           500       0         0
          president, ceo

  22      Leonard Schaeffer          1,177    4,438      136
          chairman, ceo


  23      David H. Hannah             475      491        0
          ceo


  24      Ronald L. Havner Jr.        285      451        0
          chairman, president, ceo

  25      Ted Meisel                  200      473        0
          president, ceo
  26      Joel S. Marcus             $485     $574       $6
          ceo


  27      Louis L Borick (2)         1000     1433        0
          chairman, president


  28      Robert Kotick               424       0         0
          co-chairman, ceo

  29      R.C. Dreler, chairman       750     3,908     1,415
          president, ceo

  30      Kent Thiry, chairman        600      735        0
          ceo

  31      Noel G. Watson              797      798        0
          ceo


  32      Dominic Ng                  498      600        0
          chairman, president, ceo

  33      Joel Hollander               0        0         0
          president, ceo

  34      Brian J Farrel              469      460        0
          cha rman president, ceo

  35      Michael W. Perry            830     1000       69
          Vice chairman, ceo

  36      Richard B. Handler          300     5899        0
          charman ceo

  37      Bruce Karatz                896     6,622       0
          chairman ceo

  38      John Poe                    375      259        9
          chairman president, ceo

  39      Charles Williamson          738     1,100       6
          chairman ceo

  40      Ray Irani                  1,300    2,600      773
          chairman ceo

  41      Kevin Sharer                811     1,358       0
          chairman, president, ceo

  42      Jack A. Shaw              WND (5)    WND       WND
          president, ceo

  43      Robert E. Whalen            432      216        1
          chairman, president, ceo

  44      Jose A. Collazo             611      301        6
          44 chairman, president,
          ceo

  45      Bruce W. Marlow             704      150        0
          Vice chairman,
          president, ceo

  46      Michael Eisner             1,000      0         0
          chairman, ceo

  47      Walter F. Uloa              621      833        0
          chairman, ceo


  48      John Pleasants              250       0         0
          president, ceo

  49      Alex Yemenidjian           2,500    1,179       0
          chairman, ceo

  50      Henry Vuen                 4,581      0        254
          chairman, ceo


                                           IN THOUSANDS
                                    Other          Total Company
          Executive                  Long          Compensation
Rank      * title                    Term     * includes LTIP payouts

   1      Charles Munger              $0                $0
          chairman, ceo

   2      A. Jerrold Perenchio        0                  0
          chairman, ceo


   3      B.W. Hughes                 2                 81
          chairman, ceo

   4      John Bryson                818               3,118
          chairman, president, ceo

   5      David Gold                  0                 182
          chairman, ceo

   6      Robert Eckert              130               2,183
          chairman, ceo

   7      George Joseph               24                821
          chairman, ceo

   8      Alexander Lidow (1)         15                715
          ceo

   9      Jay Gellert                 1                 757
          president, ceo

  10      Gary M. Cusumano            61               1007
          president, ceo


  11      Philip Neal                 94               2,785
          chairman, ceo

  12      Russell Goldsmith           20               1,724
          vice chairman, ceo

  13      Van Honeycutt               28               1,192
          chairman, ceo

  14      Stephen F. Bollenbach      205               2105
          president, ceo

  15      David H. Murdock           197               1,995
          chairman, ceo

  16      Angelo Mozilo              530               6,682
          chairman, president, ceo


  17      David Overton               0                 552
          chairman, ceo

  18      Richard S. Ziman           705               1,684
          chairman, ceo

  19      Kent Kresa                  7                4765
          chairman, ceo

  20      Michael Ziering             0                  0
          chairman, ceo

  21      Arthur M. Coppola          717               1217
          president, ceo

  22      Leonard Schaeffer          170               5,920
          chairman, ceo


  23      David H. Hannah             10                975
          ceo


  24      Ronald L. Havner Jr.        5                 741
          chairman, president, ceo

  25      Ted Meisel                  0                 673
          president, ceo
  26      Joel S. Marcus             $29              $1,094
          ceo


  27      Louis L Borick (2)         117               2,550
          chairman, president


  28      Robert Kotick               1                 425
          co-chairman, ceo

  29      R.C. Dreler, chairman     1,439              7,512
          president, ceo

  30      Kent Thiry, chairman      1,256              2,591
          ceo

  31      Noel G. Watson              5                1,600
          ceo


  32      Dominic Ng                  33               1131
          chairman, president, ceo

  33      Joel Hollander              0                  0
          president, ceo

  34      Brian J Farrel              14                943
          cha rman president, ceo

  35      Michael W. Perry           117              20,168
          Vice chairman, ceo

  36      Richard B. Handler        5,748             11,947
          charman ceo

  37      Bruce Karatz              12,282            21,100
          chairman ceo

  38      John Poe                   155                798
          chairman president, ceo

  39      Charles Williamson          45               2,077
          chairman ceo

  40      Ray Irani                 3,001              8,934
          chairman ceo

  41      Kevin Sharer                79               2,248
          chairman, president, ceo

  42      Jack A. Shaw               WND                WND
          president, ceo

  43      Robert E. Whalen           109                758
          chairman, president, ceo

  44      Jose A. Collazo             0                 918
          44 chairman, president,
          ceo

  45      Bruce W. Marlow             10                864
          Vice chairman,
          president, ceo

  46      Michael Eisner              4                1,004
          chairman, ceo

  47      Walter F. Uloa              0                1,454
          chairman, ceo


  48      John Pleasants              0                 250
          president, ceo

  49      Alex Yemenidjian            12               3,691
          chairman, ceo

  50      Henry Vuen                 485               5,321
          chairman, ceo


                                            IN THOUSANDS
                                       Options
          Executive                   Exercised     New Options
Rank      * title                   * dollar value    Grants

   1      Charles Munger                  $0             0
          chairman, ceo

   2      A. Jerrold Perenchio            0              0
          chairman, ceo


   3      B.W. Hughes                     0              0
          chairman, ceo

   4      John Bryson                    554             0
          chairman, president, ceo

   5      David Gold                      0              0
          chairman, ceo

   6      Robert Eckert                   0              0
          chairman, ceo

   7      George Joseph                   0              0
          chairman, ceo

   8      Alexander Lidow (1)             0             220
          ceo

   9      Jay Gellert                     0             650
          president, ceo

  10      Gary M. Cusumano                0              0
          president, ceo


  11      Philip Neal                     0             220
          chairman, ceo

  12      Russell Goldsmith               0             125
          vice chairman, ceo

  13      Van Honeycutt                 3,022           535
          chairman, ceo

  14      Stephen F. Bollenbach           0              0
          president, ceo

  15      David H. Murdock                0             100
          chairman, ceo

  16      Angelo Mozilo                   0            1,000
          chairman, president, ceo


  17      David Overton                   0              0
          chairman, ceo

  18      Richard S. Ziman                0             100
          chairman, ceo

  19      Kent Kresa                     2594           216
          chairman, ceo

  20      Michael Ziering                706            40
          chairman, ceo

  21      Arthur M. Coppola               0              0
          president, ceo

  22      Leonard Schaeffer             4,143           637
          chairman, ceo


  23      David H. Hannah                 0             20
          ceo


  24      Ronald L. Havner Jr.           503            50
          chairman, president, ceo

  25      Ted Meisel                      0             100
          president, ceo
  26      Joel S. Marcus                  $0            15
          ceo


  27      Louis L Borick (2)              0             0.2
          chairman, president


  28      Robert Kotick                 2,490          1,146
          co-chairman, ceo

  29      R.C. Dreler, chairman         1,238            0
          president, ceo

  30      Kent Thiry, chairman          6,781           300
          ceo

  31      Noel G. Watson                 4499           125
          ceo


  32      Dominic Ng                     2025           200
          chairman, president, ceo

  33      Joel Hollander                4,903           100
          president, ceo

  34      Brian J Farrel                 3592           300
          cha rman president, ceo

  35      Michael W. Perry               2321          1,000
          Vice chairman, ceo

  36      Richard B. Handler              0             154
          charman ceo

  37      Bruce Karatz                  23,369          602
          chairman ceo

  38      John Poe                      9,266           81
          chairman president, ceo

  39      Charles Williamson              0             450
          chairman ceo

  40      Ray Irani                     1,656          1,300
          chairman ceo

  41      Kevin Sharer                  15,886       1,45,000
          chairman, president, ceo

  42      Jack A. Shaw                   WND            WND
          president, ceo

  43      Robert E. Whalen                0              0
          chairman, president, ceo

  44      Jose A. Collazo                 0            1,220
          44 chairman, president,
          ceo

  45      Bruce W. Marlow                 0             611
          Vice chairman,
          president, ceo

  46      Michael Eisner                  0              0
          chairman, ceo

  47      Walter F. Uloa                  0              0
          chairman, ceo


  48      John Pleasants                1,563           365
          president, ceo

  49      Alex Yemenidjian                0              0
          chairman, ceo

  50      Henry Vuen                    14,625         2,694
          chairman, ceo


                                          IN THOUSANDS
                                                   2001
          Executive                 Aggregate   Company Net
Rank      * title                   Take-home  Income (loss)

   1      Charles Munger               $0         $52,536
          chairman, ceo

   2      A. Jerrold Perenchio          0         52,341
          chairman, ceo


   3      B.W. Hughes                  81         186,774
          chairman, ceo

   4      John Bryson                 3,672      1,035,000
          chairman, president, ceo

   5      David Gold                   182        48,443
          chairman, ceo

   6      Robert Eckert               2,183       298,919
          chairman, ceo

   7      George Joseph                821        105,339
          chairman, ceo

   8      Alexander Lidow (1)          715        87,649
          ceo

   9      Jay Gellert                  757        86,529
          president, ceo

  10      Gary M. Cusumano            1,007       91,057
          president, ceo


  11      Philip Neal                 2,785       243,400
          chairman, ceo

  12      Russell Goldsmith           1,724       146,170
          vice chairman, ceo

  13      Van Honeycutt               4,214       344,100
          chairman, ceo

  14      Stephen F. Bollenbach       2,105       166,000
          president, ceo

  15      David H. Murdock            1,995       150,404
          chairman, ceo

  16      Angelo Mozilo               6,682       486,006
          chairman, president, ceo


  17      David Overton                552        39,309
          chairman, ceo

  18      Richard S. Ziman            1,684       97,759
          chairman, ceo

  19      Kent Kresa                  7,359       409,000
          chairman, ceo

  20      Michael Ziering              706        39,029
          chairman, ceo

  21      Arthur M. Coppola           1,217       58,035
          president, ceo

  22      Leonard Schaeffer          10,063       414,746
          chairman, ceo


  23      David H. Hannah              975        36,336
          ceo


  24      Ronald L. Havner Jr.        1,244       41,016
          chairman, president, ceo

  25      Ted Meisel                   673        20,163
          president, ceo
  26      Joel S. Marcus             $1,094       $26,611
          ceo


  27      Louis L Borick (2)          2,550       55,354
          chairman, president


  28      Robert Kotick               2,915       52,238
          co-chairman, ceo

  29      R.C. Dreler, chairman       8,750       131,785
          president, ceo

  30      Kent Thiry, chairman        9,372       137,315
          ceo

  31      Noel G. Watson              6,099       87,760
          ceo


  32      Dominic Ng                  3,156       38,783
          chairman, president, ceo

  33      Joel Hollander              4,903       43,195
          president, ceo

  34      Brian J Farrel              4,535       36,013
          cha rman president, ceo

  35      Michael W. Perry           22,489       116,388
          Vice chairman, ceo

  36      Richard B. Handler         11,947       59,539
          charman ceo

  37      Bruce Karatz               44,469       214,217
          chairman ceo

  38      John Poe                   10,064       26,003
          chairman president, ceo

  39      Charles Williamson          2,077         615
          chairman ceo

  40      Ray Irani                  10,590        1,154
          chairman ceo

  41      Kevin Sharer               18,134      1,119,700
          chairman, president, ceo

  42      Jack A. Shaw                 WND       (621,600)
          president, ceo

  43      Robert E. Whalen             758        (2,920)
          chairman, president, ceo

  44      Jose A. Collazo              918       (13,319)
          44 chairman, president,
          ceo

  45      Bruce W. Marlow              864       (27,568)
          Vice chairman,
          president, ceo

  46      Michael Eisner              1,004      (41,000)
          chairman, ceo

  47      Walter F. Uloa              1,454      (75,912)
          chairman, ceo


  48      John Pleasants              1,813      (164,474)
          president, ceo

  49      Alex Yemenidjian            3,691      (438,058)
          chairman, ceo

  50      Henry Vuen                 19,946      (599,622)
          chairman, ceo


                                    IN THOUSANDS

          Executive                 Effectiveness
Rank      * title                      Rating

   1      Charles Munger                 0.0
          chairman, ceo

   2      A. Jerrold Perenchio           0.0
          chairman, ceo


   3      B.W. Hughes                    0.0
          chairman, ceo

   4      John Bryson                    0.4
          chairman, president, ceo

   5      David Gold                     0.4
          chairman, ceo

   6      Robert Eckert                  0.7
          chairman, ceo

   7      George Joseph                  0.8
          chairman, ceo

   8      Alexander Lidow (1)            0.8
          ceo

   9      Jay Gellert                    0.9
          president, ceo

  10      Gary M. Cusumano               1.1
          president, ceo


  11      Philip Neal                    1.1
          chairman, ceo

  12      Russell Goldsmith              1.2
          vice chairman, ceo

  13      Van Honeycutt                  1.2
          chairman, ceo


  14      Stephen F. Bollenbach          1.3
          president, ceo

  15      David H. Murdock               1.3
          chairman, ceo

  16      Angelo Mozilo                  1.4
          chairman, president, ceo


  17      David Overton                  1.4
          chairman, ceo

  18      Richard S. Ziman               1.7
          chairman, ceo

  19      Kent Kresa                     1.8
          chairman, ceo

  20      Michael Ziering                1.8
          chairman, ceo

  21      Arthur M. Coppola              2.1
          president, ceo

  22      Leonard Schaeffer              2.4
          chairman, ceo


  23      David H. Hannah                2.7
          ceo


  24      Ronald L. Havner Jr.           3.0
          chairman, president, ceo

  25      Ted Meisel                     3.3
          president, ceo
  26      Joel S. Marcus                 4.1
          ceo


  27      Louis L Borick (2)             4.6
          chairman, president


  28      Robert Kotick                NM (3)
          co-chairman, ceo

  29      R.C. Dreler, chairman          6.6
          president, ceo

  30      Kent Thiry, chairman           6.8
          ceo

  31      Noel G. Watson                 6.9
          ceo


  32      Dominic Ng                     8.1
          chairman, president, ceo

  33      Joel Hollander                11.4
          president, ceo

  34      Brian J Farrel                12.6
          cha rman president, ceo

  35      Michael W. Perry              19.3
          Vice chairman, ceo

  36      Richard B. Handler            20.1
          charman ceo

  37      Bruce Karatz                  20.8
          chairman ceo

  38      John Poe                      38.7
          chairman president, ceo

  39      Charles Williamson            337.7
          chairman ceo

  40      Ray Irani                     917.7
          chairman ceo

  41      Kevin Sharer                 NM (4)
          chairman, president, ceo

  42      Jack A. Shaw                   NM
          president, ceo

  43      Robert E. Whalen               NM
          chairman, president, ceo

  44      Jose A. Collazo                NM
          44 chairman, president,
          ceo

  45      Bruce W. Marlow                NM
          Vice chairman,
          president, ceo

  46      Michael Eisner                 NM
          chairman, ceo

  47      Walter F. Uloa                 NM
          chairman, ceo


  48      John Pleasants                 NM
          president, ceo

  49      Alex Yemenidjian               NM
          chairman, ceo

  50      Henry Vuen                     NM
          chairman, ceo


The Business Journal ranked chief executives by "effectiveness,"
comparing the amount the CEO took home, including salary, bonus and
other cash compensation, restricted stock grants and value of options
exercised, with the company's net income in its most recent fiscal year.
These ratios are expressed in terms similar to percentages, lower being
deemed more effective. A CEO who took in $1 million, for example, while
the company earned $100 million garnered a 1 rating, while a CEO who
earned $10 million while his company earned $1 million would rate a 10.
Companies that lost money were ranked by size of loss.

Definitions

WND -- Would not disclose.

NM -- Not meaningful.

Other Long Term -- Includes benefits, typically pension benefits, paid
by the company, as well as restricted stock grants.

Total Company Compensation -- Includes salary, bonus, other short-term
compensation, other long-term benefits including restricted stock
grants, as well as long-term incentive plan payouts.

Options Exercised -- Net dollar value realized from options exercised
during the year. Does not include sale of stock that was acquired
through means other than options exercises.

New Option Grants -- Number of new options granted during the year.

Aggregate Take-home -- Sum of Total Company Compensation and Options
Exercised. This is the total amount of value realized by the CEO during
the year.

Company Net Income -- For 2001, or most recently completed fiscal year,
unless noted.

Effectiveness Rating -- Aggregate take-home divided by company net
income. This is a measure of what it cost shareholders, through cash
compensation, restricted stock grants and value granted through options
exercises, for financial performance for the year.

(1)Figures are for the fiscal year ended June 30, 2001. As of press
time, International Rectifier had not yet reported earnings or executive
pay for the year ended June 30, 2002. The company was scheduled to
release earnings on July 25.

(2)Borick is company's top operating executive.

(3)Pay figures are for the year ended March 31, 2001. Activision has not
disclosed executive pay for the year ended March 31, 2002. Earnings are
for the year ended March 31, 2002.

(4)Pay figures are for the year ended Dec. 31, 2000. Amgen has not
disclosed executive pay for the year ended Dec. 31, 2001. Earnings are
for 2001.

(5)Hughes Electronics is a wholly owned subsidiary of General Motors
Corp. with its own tracking stock. GM does not disclose Shaw's pay.

Sources: Company filings, Dow Jones & Co., Business Journal research