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Pension woes hit manufacturing
Stock market woes threaten to create shortfalls in the corporate pension plans of big-name firms such as General Motors, Delphi and Pharmacia, says an Argus Research economist. That's forcing executives to divert billions into the plans, which cuts into spending and earnings.
Venture capitalists see pay cuts
Median pay for managing partners at venture capital and leveraged buyout firms fell to $604,000 a year in '02 from $750,000 the prior, says a survey by Alternative Investor. Pay for the top fourth of earners fell 56% to $1.4 mil. The figures include salary, bonuses and other pay.
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