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The Business Roundtable Is an Organization That Consists of Many of the Most Profitable and Influential Corporations in the World

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The Business Roundtable Is an Organization That Consists of Many of the Most Profitable and Influential Corporations in the World FEB.- 2 0 ’ 97 (THU) 10:43 TEL: 0 P. 002 3 3 3 - £ BUSINESS ROUNDTABLE The Business Roundtable is an organization that consists of many of the most profitable and influential corporations in the world. The members groups include manufacturers such as General Motors, Motorola, Hewlett-Packard, Allied Signal, and Raytheon, and pharmaceuticals such as Bristol-Myers Squibb, Abbott Laboratories, and Eli Lilly. Also seated at the Business Roundtable are chemical manufacturers such as DuPont, Dow Chemical, Eastman Kodak, Kerr-McGee, and Occidental Petroleum. BUSINESS ROUNDTABLE PROFITS In 1995, almost all Business Roundtable corporations experienced record profits. The twelve with the greatest profits for Fiscal Year 1995 are General Motors, followed by General Electric, Exxon, Philip Monis, IBM, Ford, Citicorp, Merck & Co, DuPont, Coca- Cola, BankAmerica, Procter & Gamble, each with profits over $2,6 billion. General Motors leads die pack with profits of $6.8 billion, which is also the total budget for FY 97 for the Environmental Protection Agency. While each of the top dozen has profits over $2.6 billion, the budget for environmental programs and management, including a majority of EPA’s enforcement activities, is $1.7 billion. For the 211 members of the Business Roundtable for whom data was available, the average profit for FY 95 was $780,452,344. In comparison, the FY 97 budget for the Food and Drug Administration is $887,615,000. The FDA is responsible for protecting the food and drug supply for 260 million Americans. 39 corporations of the Business Roundtable belong to a separate association, the National Association of Manufacturers, which also has played a lead role in trying to pass so-called “Regulatory Reform.” The average profit for FY 1995 of the Business Roundtable/National Association of Manufacturers members is $1.29 billion. In contrast, the Environmental Protections Agency’s budget for clean water state revolving funds, which is used for grand; and loans to state water programs is $1.35 billion. BUSINESS ROUNDTABLE CEO COMPENSATION During the same time of record profits, the top executives of many of these major corporations saw their CEO paychecks expand greatly. An April 1996 Business Week survey of CEO pay reports that over the 1990 - 1995 there was a 92% rise in compensation. For the Business Roundtable corporations, the average yearly compensation for CEOs, including salary and bonuses was $3,527,792, which means a paycheck of $135,682 for the lucky few who sit at the top of a corporation’s organizational chart. The dozen Business Roundtable corporations with the most generous CEO compensations for fiscal year 1995 are: General Electric with $22,062,000, followed by Goodyear, Hercules, Colgate-Palmolive, IBM, Coca-Cola, Travelers Group, Morgan-Stanley, BankAmerica, Pepsico, GTE, and Eastman Kodak, each with CEO annual salary and delayed or long-term compensation totaling more than $11,275,000. The combined CEO compensation for these major manufacturing, automotive, chemical manufacturing, and other representatives of major sectors of the economy totals $ 164,826,700 for FY 1995. FEB. -20! 97(THU) 10:43 TEL: 0 P. 003 The combined 1995 compensation for the 211 Business Roundtable CEOs is over $691 million. In contrast, the Occupational Safety and Health Administration, which regulates and protects many of America’s workers from workplace accidents, toxic exposure, and extreme work conditions has a FY 1997 budget of approximately $325 million. BUSINESS ROUNDTABLE STOCK PERFORMANCE From the Business Roundtable Proxy statements the twelve corporations with the highest stock performance from December 31, 1990, to December 31 1995 are Hurrah’s Entertainment, with stock growth of 582%, followed by Union Carbide, Chase Manhattan, Premark International, Travelers Group, Hercules, Citicorp, Merrill Lynch, Ceridian, Nike, Goodyear, and Chrysler, each with 5-year stock performance of over 400%. Last year Congress passed several regulatory relief bills that provide flexibility and oversight for those businesses that need it the most — small business. However, CEOs, large corporations and their Washington D.C. lobbyists are not satisfied with Congress’ track record. The Business Roundtable is forwarding a greed-driven legislative agenda that would drastically change the way that America protects public health and safety, the environment and worker safety. The demand for so-called “Regulatory Reform” is a call from greedy corporations as pay­ back for the $30 million in campaign contributions the corporations made during the last election cycle. This effort, in sum, is because corporations are not willing to pay their fair share to protect the environment, despite the evidence that corporations are experiencing record profits. In addition, public sentiment is clearly in the camp that big corporations are not over­ regulated. Three recent statewide polls in Louisiana, Georgia, and Connecticut clearly demonstrate the mistrust and suspicion the general public feels toward big business. When offered two opposing views as to why big business lobbies to loosen environmental regulations, voters overwhelmingly choose the statement “it is because companies are greedy, and are trying to avoid paying the cost of complying with environmental laws” over “it is because the regulations are too burdensome, unnecessary, and prevent companies from creating jobs.” 66% of Louisiana voters, 66% of Connecticut voters, and 63% of Georgia voters agree with die former statement. * The information compiled on the member companies of the Business Roundtable comes from three sources: the Fortune Guide to the 500 largest U.S. Corporations, the March 25, 1996 Business Week: “The Business Week 1000 Most Valuable Companies,” and the April 22, 1996 Business Week “Executive Compensation Scorecard.” The remainder of the information came from Environmental Working Group’s download of data from Securities and Exchange Commission’s EDGAR on-line. The forms that were used were the DEE 14A forms, or Proxy statements. The information from the Fortune and Business Week articles were also compiled from these filings, according to the magazines. Comprehensive data on 1996 profits and compensation will be available circa March 1997. * The public opinion polls were designed and administered by The Mellman Group, Inc. The surveys were conducted in Georgia from December 10-12 1996, and Connecticut and Louisiana from January' 4-6, 1997 Sheetl Annual Salary &. Long Term Company Annual Profits c e o Sextus Comp Compensation Headquarters .............. General Motors 6,881,000,000 John F. Smith, Jr. 3,304.000 2,300,000 5,604,000 Detroit m General Electric 6,573,000,000 John F. Welch, Jr, 5,321,000 16,741,000 £2,062,000 Fairfield CT Exxon 6,470,000,000 Lee R Raymond 2,493,000 4,567,000 7,060,000 Irving TX Philip Morris 5.450,000,000 Geoffrey C. Bible 2,497,000 O 2,497,000 New York NY IBM 4,178,000.000 Louis V. Gerstner. Jr. 4,775,000 8,452,000 13,227,000 Armonk NY Ford 4,139,000,000 Alex Trotman 4,835,000 456,000 5,341,000 Dearborn Ml Citicorp 3,464,000,000 John S. Reed 4,300,000 3,838,000 8,138,000 New York NY Merck & CO 3,335,000,000 Raymond V. Gilmartin 2,100,000 0 2,100,000 Whitehouse Static NU Coca-Cola, 2,886,000,000 Roberto C. Goizueta 4,880,000 8,029,000 12,909,000 Atlanta QA BankAm erica 2,664,000,000 David A. Coulter 4,542,000 7,313,000 11,855,000 Procter & Gamble 2,645,000,000 John E, Pepper, Jr. 2,874,000 1,108,000 3,982,000 Cincinnati OH American International Group 2,510,000,000 Maurice R, Greenberg 4,150,000 6,834,000 .10,984,000 Hewlett-Packard 2,433,000,000 Lewis E. Platt 1,531,000 2,101,000 3,632,000 Palo Alto CA Johnson & Johnson 2,403,000,000 Ralph S. Larsen 2,675,000 O 2,675,000 New Brunswick NJ Mobil 2,376,000,000 Lucio A. Noto 1,601,000 1,538,000 3,139,000 Fairfax VA Eli Lilly 2,291,000,000 Randall L. Tobias 2,009,000 1,698,000 3,707,000 Indianapolis IN The Dow Chemical Company 2,078,000,000 William S. Stavropolous 1,332,000 927,000 2,919,000 Midland M Chrysler 2,035,000,000 Robert J, Eatc-n 3,678,000 435,000 4,113,000 Aubom Hills M Ameritech 2,008.000,000 Richard C. Notebaert 1,968,000 5,984,000 7,952,000 Chicago IL Nationsbank 1,950,000,000 Hugh L. McCall, Jr. 3,500,000 0 SjSOOjOOOjCharloite NC Amoco 1,862,000,000 H. Laurance Fuller 890,000 0 890-OOojchicago IL Bell Atlantic 1 ,B50,000,000 Raymond W. Smith 1,314,000 263,000 2,177:0 001 Philadelphia PA Travelers Group 1,834,000,000 Sanford J. Weill 12,027,000 3,000 12,030,OOO’New York NY Bristol-Myers Squibb 1,81 2,000,000 Charles A. Heimbold, Jr, 2,359,000 0 2,359,000 New York . NY Sears, Roebuck 1,801,000,000 Arthur C. Martinez 2,197,000 3,034,000 5,231,000 Hoffman Estates IL Motorola 1,781,000,000 Gary. L. Tooker 965,000 152,000 1,117,000 Schaumburg IL Abbott Laboratories $1,689,000,000 Duane L. Burnham 2,232,000 0 $2,232,000 Abbott Park IL American Home Products 1,680,000,000 John R. Stafford 2,370,000 2,579,000 4,949,000 Madison NJ PepsiCo 1,606,000,000: Roger A. Enrico 3,453,000 7,966,000 11,419,000 Purchase Mr i A * ;|ir__. Pfizer 1,573,000,000 ViiciicHl Yx. ofernfcr, vfl. 3,115,000 5,403,000 8,524,000 New York NY P a g e 1 Sheetl American Express 1,564,000,GO()|Hanrey Golub 2,987,000 4,907,000 7,894,000 New York NY The Williams Companies 1,318,000,000.'Keith E.
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