KAISER PERMANENTE: CEO Gets Big Raise Despite Red Ink
Despite a $266 million loss, Kaiser Permanente gave CEO David Lawrence a 16% pay raise in 1997, increasing his total compensation to $1.4 million from $1.2 million in 1996. The salary hike disclosure comes on the heels of news that Kaiser posted a disappointing $ 240 million loss for the first three quarters of 1998 and will subsequently implement cost-cutting initiatives (Bloomberg/Los Angeles Times, 12/9).
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