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A year of declining profits did nothing to reduce the paychecks of chief executive officers at Portland's public companies.
Portland's highest-paid executive, PacifiCorp President and Chief Executive Officer A.M. Gleason, was paid over $350 an hour in 1991 (assuming a 60-hour work week). Between 1990 and 1991, the median compensation of area chief executive officers rose 6.9 percent to $496,000 annually. But the median net income for those same companies fell by more than 50 percent during the same time period.
At Willamette Industries, profits fell 65 percent, but Chairman and Chief Executive Officer William Swindells got a 5 percent pay raise, and President and Chief Operating Officer Steven Rogel got a 26 …