1. “The CEO Health Plan”
At a time when cos are scaling back health benefits for other retirees, former top execs at many cos are receiving partial or full lifetime medical coverage on top of pensions valued at millions of dollars
Trend common at airlines, which have been among most aggressive in scaling back retirement benefits for rank-and-file
Continental’s former CEO also got lifetime of free flights, decade of free office space, lump-sum pension payout of $22m
Number of cos (e.g., Sears Holdings, Kimberly-Clark, Lowe’s) pay full or partial costs for COBRA benefits continuation for top execs, whereas ordinary ees must pay cost themselves
Source: Wall Street Journal, 4/12/06