The chief executive of Raytheon will see about $1 million less pay than he expected this year after he failed to give credit where it was due.
The board at Raytheon froze chief executive William H. Swanson's pay at its 2005 level and reduced his 2006 restricted stock award by 20 percent because Swanson failed to credit source material he used in his book "Swanson's Unwritten Rules of Management," the New York Times reports.
Before stopping shipments last week, the company had distributed more than 300,000 copies of the free book, the newspaper notes. The book contains 33 business-management rules written in a folksy style.
However, as many as 17 of the rules are similar to or identical to those in a 1944 book by W. J. King called "The Unwritten Laws of Engineering," the newspaper reports. Swanson's book contained no attribution to King's work.
Carl Durrenberger, an engineer in San Diego, was the first to notice the similarities between the two books.
Swanson released a statement after the New York Times reported on the engineer's findings.
"The lessons that lie at the heart of the 'Unwritten Rules' were gathered over a lifetime of experience, reading and listening," Swanson said in the April 24 statement. "The result is an unpublished work that is available free of charge to any interested reader. I sought to provide credit at the front of the 'Unwritten Rules' to all those unnamed sources who had, over the course of my life, contributed a thought or an idea relevant to the compiled work. While many of those sources remain anonymous, clearly, the similarity of the language between Professor King's 1944 book and some of the rules within the 'Unwritten Rules' is beyond dispute."
Source: New York Times