Apr 5, 2018

CHS chief gets higher bonus despite company's struggles

Community Health Systems owns more than 120 hospitals. Photo: Anders Clark / EyeEm via Getty Images

Community Health Systems CEO Wayne Smith made $5.9 million in 2017, down about 18% from his pay in 2016, based on actual realized stock gains in the company's latest proxy document. Smith's 2017 pay included an $810,000 cash bonus, 27% higher than 2016, which was tied to the hospital chain's revenue and undefined "performance improvement."

The bottom line: Smith got a bonus that was 13 times higher than his employees' median compensation — even though the system is hemorrhaging money, selling off hospitals and struggling with debt that has ballooned from a hospital merger that Smith regrets making.

Go deeper

Axios
Updated 8 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 19,193,661 — Total deaths: 716,735 — Total recoveries — 11,611,029 — Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 4,918,927 — Total deaths: 160,737 — Total recoveries: 1,598,624 — Total tests: 59,652,675 — Map.
  3. Politics: White House recommends Trump issue executive orders on coronavirus aid.
  4. Education: Cuomo says all New York schools can reopen for in-person learning.
  5. Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus — Massachusetts pauses reopening after uptick in coronavirus cases
  6. World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.
Go deeper (<1 min. read)Arrow
Jacob Knutson
14 mins ago - Politics & Policy

Trump: "We are going a different way" on coronavirus aid

President Trump. Photo: Jim Watsonn/AFP via Getty Images

President Trump tweeted on Friday that his administration is "going a different way" with coronavirus aid after negotiations with congressional Democrats stalled again, suggesting he will use an executive order to address stimulus spending.

What he's saying: "Pelosi and Schumer only interested in Bailout Money for poorly run Democrat cities and states. Nothing to do with China Virus! Want one trillion dollars. No interest. We are going a different way!" Trump tweeted.

Dave Lawler
22 mins ago - Politics & Policy

Trump's swift, sweeping China offensive

Illustration: Aïda Amer/Axios

President Trump's rhetoric on China has tended to run hotter than his actions — until now.

Why it matters: Even at the height of Trump's trade war, his administration never hit China as hard, as fast, and on as many fronts as it is right now.

Go deeper (1 min. read)Arrow