BUSINESSWEEK ONLINE : OCTOBER 16, 2000 ISSUE
MANAGEMENT

Who Needs Friends in High Places?


The compensation committees of these companies are completely 
independent--and still lavishly rewarded their laggard CEOs

COMPANY                CEO               TOTAL SHAREHOLDER  PAY HIKE
                                         RETURN FISCAL '99    1999
PHARMACIA              Robert Shapiro         -25.1%          643.6%
REEBOK INTERNATIONAL   Paul Fireman           -44.9           468.7
U.S. BANCORP           John Grundhofer        -31.2           236.6
CARDINAL HEALTH        Robert Walter          -36.8           172.0
PHILIP MORRIS          Geoffrey Bible         -54.4           171.6


DATA: S&P COMPUSTAT, INVESTOR RESPONSIBILITY RESEARCH CENTER


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TABLE: Who Needs Friends in High Places?



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