OTHER NEWS - July 1, 1994

Executives Checking on Golden Parachutes: A growing economy and heightened prospects for mergers and acquisitions have executives scrambling to make sure their golden parachutes are in place, according to a survey by consultants Towers Perrin. A compensation expert at Towers Perrin said she has been getting lots of calls in the last six months from executives who want to make sure that if their company is taken over, their so-called change-in-control benefits will be available. Companies with cash are likely to buy other companies, the expert said. When they do, executives at the acquired companies can quickly be out of a job. The thought of that is sending them scurrying to make sure of their money in case they have to leave.