April 1990
How to Negotiate a Compensation Plan, Painlessly
The hired gun
By Donald J. Jonovic
"McElvany's asking too much," Sam Bensen told me. Sam was founder of Bensen Steel Co., a steel service center in Illinois. Jack McElvany, his controller, had been with him for eight years, and had started prowling around Sam's turf, looking for a "fair share," even (gasp!) equity. Sam, it was clear, was circling his wagons against a nonfamily employee with a sudden taste for a piece of the action.
I was helping Sam reorganize his management team, so he could begin backing away from operating responsibility and allow some room for his son, Dale, to grow as a …
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