Will anyone listen to new controller?
What won what where
CEO Ray Irani is finally getting some heat for his outrageous compensation. WSJ reports that Relational Investors LLC and the California State Teachers' Retirement System, which together own about 1 percent of the L.A.-based Occidental's shares, will try to unseat at least four of 13 board members during the company's 2011 annual meeting. They're unhappy about Irani's pay and the company's failure to have a CEO succession plan (even though Irani is past the director retirement age of 75). Last year, Irani received $52.2 million in compensation.
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Recent stories on LA Observed:
Barry Diller's many paychecksSay hello to the marijuana vending machine - and it's made in California
Good tip for job candidates: Always ask questions
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