Buzzword: Couric Clause
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Buzzword: Couric Clause
News about a newswoman brings us this week’s Marketplace Money buzzword: Couric Clause.
The Couric Clause was a proposed SEC rule. It would have forced companies to reveal the wages of their five highest-paid non-executives.
The Clause is named after news anchor Katie Couric, who may not run CBS, but is rumored to be paid as if she does, an estimated $15 million a year.
The clause was supposed to help investors decide if their money is well-spent. Detractors say the info is proprietary.
This week the SEC voted to revise the rule, so it applies only to employees who make policy decisions. Katie’s secret is safe.
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