BUSINESS

Lockheed CEO, others take big pay hikes in face of furloughs

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The chairman of Lockheed Martin took a $2 million boost in pay last year even as the company announced possible furloughs and layoffs, and he's not alone in that camp, according to Federal Times.

Robert Stevens, who resigned his post as the CEO of Lockheed Martin in January but remains the company's chairman, earned $27.5 million in 2012. That disclosure comes in the immediate aftermath of the company announcing that sequestration could lead to massive furloughs at the major federal contractor.

Stevens isn't alone. James McNerney, the CEO of Boeing, saw his total compensation go up to $27.5 million in 2012 as well, up from $22.9 million.

READ MORE at federaltimes.com.

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