CGX Exec, Board Members Absorb Recession Pain

HOUSTON—Joe Davis, CEO of Consolidated Graphics (CGX), along with the non-executive members of the company's Board of Directors, have taken a 15 percent reduction in pay, according to filings with the Securities and Exchange Commission (SEC). The paycut is slated for an undetermined period. According to the SEC filing, the move is "consistent with other headcount and salary and wage reductions being taken throughout the company due to the current and projected economic conditions facing the printing industry."