EDO Corporation: Difference between revisions

On 30 August 2006, EDO Corporation Chairman, CEO, and President, James M. Smith, was named in a report produced by the [[Institute for Policy Studies]] and [[United for a Fair Economy]], entitled 'Executive Excess'. Smith was reported as having received one of the highest percentage pay raises of any CEO in America, as a direct result of the '[[War on Terror]]' since 2001. His total compensation in 2006 was $1.8 million per year, up from $893,200 in 2001.<ref>[http://www.faireconomy.org/reports/2006/ExecutiveExcess2006.pdf "Executive Excess 2006: Defense and Oil Executives Cash in on Conflict"] {{webarchive|url=https://web.archive.org/web/20070927012304/http://www.faireconomy.org/reports/2006/ExecutiveExcess2006.pdf |date=2007-09-27 }}, ''[[Institute for Policy Studies]]'', August 30, 2006</ref> In July 2006 Smith filed [[U.S. Securities and Exchange Commission]] (SEC) data showing he had sacked 400 workers at a factory in California after his management team had failed to secure a lucrative contract for anti-IED devices. In September 2003 EDO was listed by Fortune magazine as number 10 in the top 100 fastest growing companies in the U.S.<ref>[https://money.cnn.com/magazines/fortune/fortune_archive/2003/09/01/348175/index.htm "100 Fastest-Growing Companies"], ''[[CNN]]'', September 1, 2003</ref> EDO have failed to make the top 100 at all in recent years because of financial troubles. and are now owned by [[ITT Corporation]].