P2JW102000-6-A00100-17FFFF5178F ADVERTISEMENT Wonderingwhatitfeels like to finally roll over your old 401k? Find outhow our rolloverspecialists canhelpyou getthe ball rolling on page R10. ****** MONDAY,APRIL 12, 2021 ~VOL. CCLXXVII NO.84 WSJ.com HHHH $4.00 Last week: DJIA 33800.60 À 647.39 2.0% NASDAQ 13900.19 À 3.1% STOXX 600 437.23 À 1.2% 10-YR. TREASURY À 16/32 , yield 1.664% OIL $59.32 g $2.13 EURO $1.1902 YEN 109.67 Matsuyama Wins Masters, in a First for a Japanese Man CEO Pay What’s News Climbs In Year Business&Finance Of Vast EO paysurged in 2020, Ca year of historic busi- nessupheaval, awrenching Upheaval labor market formanywork- ersand unprecedented chal- lenges formanyleaders. A1 Median compensation Google foryearsoperated a reaches $13.7 million secret program that used past bid datainthe company’sad for leaders at 300 of exchange to allegedly give the biggest companies itsown ad-buying system an advantageovercompetitors, BY THEO FRANCIS according to acourt filing. A1 GES AND KRISTIN BROUGHTON Fed chief Powell said IMA the U.S. economy appears CEO paysurgedin2020,a to be at an inflection point, GETTY year of historic businessup- with output and job growth heaval,awrenching labor mar- poised to accelerateaslong ketfor manyworkersand chal- as the pandemic retreats. A2 EHRMANN/ lenges formanyleaders. Median payfor the chief ex- Medline Industries is ex- MIKE FITTING: Hideki Matsuyama dons the greenjacket afterwinning the 85th Masters tournament at the Augusta National Golf ecutives of morethan 300 of ploring asale that could value Club in Augusta,Ga., on Sunday. Mr.Matsuyama is the first Japaneseman to win one of golf’s major championships.A14 the biggest U.S. public compa- the medical-supply company nies reached $13.7 million last at as much as $30billion. B1 year,upfrom$12.8million for Alibaba said it would in- the same companies ayear vest in measures to support earlier and on track forare- merchantsonits platform, af- cord,according to aWall terChina’santitrust regulator Secret GoogleProjectAccused Street Journal analysis. imposed a$2.8billion fine. B1 Paykept climbing in 2020 as some companies moved per- Senior business leaders formancetargets or modified met virtually to plan what paystructures in response to several said big businesses Of Using Ad Data to Lift Sales the Covid-19 pandemic and ac- should do next about new companying economic pain. voting laws under way in SalarycutsCEOs took at the Texas and other states. B1 BY JEFF HORWITZ hundreds of millions of dol- This week’sfiling,viewedby Google’sroles as both the op- depths of the crisis had little VoxMedia said it is acquir- AND KEACH HAGEY larsinrevenue forthe com- TheWall Street Journal, erator of amajor ad ex- effect. Thestock market’sre- ing Cafe Studios, publisher panyannually,the documents wasn’t properly redacted when change—which Google likens bound boosted what topexecu- of apopular podcast hosted Google foryearsoperated a show. In itslawsuit, Texas al- uploaded to the court’spublic to the New York Stock Ex- tives took home because much by former ManhattaN U.S. secret program that used data leges that the project gave docket. Afederal judgelet change in marketing docu- of their compensation comes in attorney Preet Bharara. B3 from past bids in the com- Google,aunit of Alphabet Google refile it under seal. ments—and arepresentativeof the form of equity. pany’sdigital advertising ex- Inc., an unfair competitivead- Some of the unredacted buyersand sellersonthe ex- In some cases,investors changetoallegedly giveits owN vantageoverrivals. contentsofthe document change. Google also actsasaN have responded by withholding World-Wide ad-buying system an advantage Thedocumentsfiled this were earlier disclosed by ad buyer in itsown right, sell- support forcompanypay prac- over competitors, according to week were part of Google’s MLex,anantitrust-focused ing ads on itsown properties tices in annual advisoryvotes, court documentsfiled in a initial response to the Texas- news outlet. such as search and YouTube PleaseturntopageA2 Acrucial period of negoti- Texas antitrust lawsuit. led antitrust lawsuit,which Thedocument sheds fur- through these same systems. ations expected to determine Theprogram, known as wasfiled in December and ac- ther lightonthe state’scase Texas alleges that Google Median total compensation the sizeand scope of Biden’s “Project Bernanke,” wasn’t cused the search company of against Google,along with the used itsaccesstodatafrom forS&P 500 CEOs on the job infrastructure package will disclosedtopublisherswho running adigital-ad monopoly search company’s defense. publishers’ ad servers—where at leastayear start this week when law- sold ads through Google’s ad- that harmed both ad-industry Much of thelawsuit in- morethan 90% of large pub- makersreturn to Capitol Hill buying systems.Itgenerated competitorsand publishers. volves theinterplayof PleaseturntopageA9 $14million from atwo-week recess. A4 12 Getting aBiden pro-union proposal through Congress could be a high hurdle for Fear of Covid-19 ShrinksLabor Force 10 Democrats, even as aunion- ization vote at Amazon puta 8 newspotlight on the issue. A4 The“no” vote at an Ala- Around 4 million adults aren’t looking for jobs due to virus; taming pandemic key to recovery 6 bama warehouse dealt a blowtoorganized labor’s BY GWYNN GUILFORD ing to go home. And I’m probably not too ill to take care of her two-year-old 4 push to reversefalling pri- going to come back,’ ” said Ms. McLau- daughter or infected her wife, an essen- vate-sector membership. A4 A little over a year ago, Chanee rin, who is 29 and lives in a suburb of tial worker with a warehousing job. 2 Iran said saboteurscaused McLaurin was a few weeks into a new Dallas. A year after the pandemic burst onto job selling insurance when she began to When her employer, after letting the U.S. economy, 8.4 million fewer a blackout at the country’s 0 main nuclear-enrichment hear coughing in her office. staff work from home, called them back Americans hold jobs. There are many 2010 ’12 ’14 ’16 ’18 ’20 plant, an attempt, Tehran Co-workers, one after another, to the office in early May, Ms. McLau- reasons, but one of the most important Note:2020reflects companies disclosing pay said, to derail talks on reviv- stopped showing up. Then she over- rin didn’t go. Although she wasn’t and least appreciated is the one that through April 8 ing the 2015 nuclear deal. A8 heard a colleague whispering into her aware of any outbreak at her office, her PleaseturntopageA10 Source:MyLogIQ phone that she had been diagnosed job involved going door to door at busi- Regeneron said itsanti- with flu-like symptoms. nesses, and she feared what would hap- New habits emerge post-pandemic........ A3 CEOs plan new push on body drug reduced the risk of “I was like, ‘You know what? I’m go- pen if she caught Covid-19 and grew Working mothers face tough road........ A11 voting legislation...................... B1 developing symptomatic Covid-19 infection in people living with someone infected Grateful Dead’s ‘Wall of Sound’ by the newcoronavirus. A3 INSIDE Hospital FightTypifies Ecuador elected conser- Lives On in Fan’s Basement vativeex-banker Guillermo Lassoaspresident over his iii Plight in RuralAreas populist opponent. A6 Anthony Coscia spent two months TheSupreme Court in a BY BRIAN SPEGELE businessand community lead- 5-4decision exempted building a miniature replica; ‘he’s nuts’ erslaunched an effort to build prayer meetingsfromCali- When the only hospital in a anew hospital instead. They fornia’sCovid-19 restrictions REUTERS BY ALEX lEARY lovewhat he’sdoing.He’snot small central Wyoming city said they have secured several on in-home gatherings. A3 faking it. He’s trying to repli- WORLD NEWS stopped delivering babies and million dollarsindonations,in- SOUTHBURY, Conn.—In cate it. It’s a mind blower.” Solar industry cut back on surgeries,local res- cluding land forthe proposed 1974the Grateful Dead revolu- Stuck home during identssought to start their hospital from the Eastern Sho- JOURNAL REPORT confronts itsuneasy tionized concert audio with a Covid-19,Mr. Coscia has la- own. Thefight that ensued now shone NativeAmerican tribe. Encore: Eightquestions to three-story, 28,800-watt sys- boredfour hoursaday over relianceonChina’s stretches to Washingtonand is Today, the group is one step answerbeforeyou retire. tem called the Wall of Sound. two months,creating asocial- Xinjiang region. A6 shininganuncomfortable light away from achieving itsgoal of R1-10 Fans were blown away,but the media phenomenon among on one of the country’sbiggest securing $40 million of low-in- wall only lasted a year. Deadheads,few of whom expe- hospital chains andits private- terest loans from the Agricul- CONTENTS Outlook....................... A2 Nearly 50 yearslater,An- rienced the Wall of Sound—he equity owner. ture Department. LifePoint is Arts in Review... A13 Personal Journal A11-12 BusinessNews.......B3 Sports....................... A14 thony Coscia has built a one- didn’t either—but who hold it ETTY LifePoint Health Inc., backed trying to scupper the effortsby Crossword.............. A14 Technology............... B4 sixth scale model in his base- in mythical status forits size /G by Apollo Global Management lobbying the Biden administra- HeardonStreet... B10 U.S. News............. A2-5 ment—and fans are and pioneering of high fidel- Inc., controls the only hospital tion and Wyoming’ssenatorsto Markets...................... B6 Weather................... A14 going wild once ity concert audio. DUCEY in working-classRiverton, Wyo. oppose the project. Opinion.............. A15-17 World News....... A6-9 REN again. Thepandemic has AfterLifePoint mergedRiver- TheCEO of LifePoint’sWyo- KA “He’snuts,” says driven people to bread ton’shospital with another fa- ming hospitals,John Ferrelli, > Richard Pechner, a baking,binge U.S. NEWS cility it owns in Lander,30 said in astatement the com- former roadie who watching and dog NativeAmerican miles away,itbegan consolidat- panyopposed the newhospital had the grueling ownership.For communities have ing services.