Wampum

Taurel Gets A Raise

Eli Lilly, notable for putting mercury in infant vaccines, knows how to treat its CEO, Sidney Taurel. The New York Times:

Net income at Eli Lilly fell 29 percent and its return to shareholders dropped 17 percent last year, but its chief executive, Sidney Taurel, saw his pay go up 41 percent, to $12.5 million.

Taurel and Lilly are part of a campaign urging the administration and Congress to limit the amount of pain and suffering damages recoverable in tort actions to $250,000.

Apparently, Eli Lilly thinks that it takes the equivalent of 49 lifetimes of pain and suffering to lure a manager who can make earnings fall 29% and can depress shareholder return by 17%. Unsurprisingly, Mr. Taurel is not too ashamed to take the money.

Posted by Dwight Meredith at April 3, 2005 10:04 PM | TrackBack