The Katie Couric clause was a slang term used to describe a proposed Securities and Exchange Commission rule regarding disclosure of executive compensation and compensation of other elected employees.
A rule proposed in 2006 required companies to publicly acknowledge the salaries of up to the three highest paid non-management employees in the company.
The rule would have meant that CBS had to disclose the salary of Couric, at the time CBS’ highest paid news anchor.
The rule received backlash from major media companies and Wall Street firms and was ultimately not passed.
The rule was proposed as an addition to existing executive remuneration laws that require disclosure of compensation information for CEOs and other key executives.
Other rules introduced in subsequent years, including the Dodd-Frank Act in 2010, dealt with the issue of executive compensation, which required greater transparency regarding corporate spending.
Billionaire Warren Buffett (who lives and works in Omaha, Nebraska) is known as the Oracle of Omaha, a nickname he earned as one of the world’s most successful and watched investors.
Robber baron is a term often used in the 19th century during America’s Golden Age to describe successful industrialists whose business practices were often considered ruthless or unethical.
The 90/10 retirement investment strategy involves investing 90% of investment capital in low-cost S&P 500 index funds, and the remaining 10% in short-term government bonds.
The chi-square statistic (χ2) is a measure of the difference between the observed and expected frequencies of the outcomes of a set of events or variables.
The chief operating officer (COO) is the senior officer tasked with overseeing the day-to-day administrative and operational functions of the business.