Buzzword: Couric Clause
Life is hard enough without having to decipher everything. Each week, Marketplace Money brings you a word or a phrase that has bubbled to the top of the news. For instance, Couric Clause. You hear it, you see it, but do you really know it?
News about a newswoman brings us this week's Marketplace Money buzzword: Couric Clause.
The Couric Clause was a proposed SEC rule. It would have forced companies to reveal the wages of their five highest-paid non-executives.
The Clause is named after news anchor Katie Couric, who may not run CBS, but is rumored to be paid as if she does, an estimated $15 million a year.
The clause was supposed to help investors decide if their money is well-spent. Detractors say the info is proprietary.
This week the SEC voted to revise the rule, so it applies only to employees who make policy decisions. Katie's secret is safe.
