Susan Luzzaro 6:32 p.m., March 16
Pay Drops for 200 Chief Executives -- but Not the Two in San Diego
The Sunday (April 5) New York Times lists compensation for 200 chief executive officers in 2008. Their median pay went down 9 percent and average down 5 percent. This was decidedly not true for San Diego's two CEOs on the list. Qualcomm's Paul Jacobs's total pay soared 45 percent to $18.6 million. That was more than $10 million above the median of $8.4 million. The total pay of Sempra Energy's Donald Felsinger went up 27 percent to $9.1 million, which was $700,000 above the median of the 200 CEOs. Usually, utility executives' pay is not as high as that of execs in other industries. James Sinegal of Washington's Costco Wholesale -- a protege of San Diego's Sol Price -- is always cited as an executive who pulls down much less than his peers. Last year, his pay went up 27 percent. His cash pay of a hair under $500,000 was well below the $2.8 million median, and his total pay of $3.8 million was less than half the median.