US 'plans bail-out firm pay cut'
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US 'plans bail-out firm pay cut'Posted by: patelashishme0932Firms in the US which received billions of dollars of government aid in the ... -
Seven companies that received the most assistance will have to cut the ...Source: AFP
Firms in the US which received billions of dollars of government aid in the financial crisis are to be told to cut the pay of top executives.
The seven companies that received the most aid from the US Treasury will have to reduce the basic salaries of their 25 best-paid employees by up to 90%.
The totals paid to each firm's 125 top earners would be halved under the plan.
Details of the plans were confirmed ahead of schedule by Elizabeth Warren, who heads the oversight panel.
The US government is expected to announce the salary cuts for top executives within the next few days.
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Should The Government Decide What You Get Paid?
By: Redhanded101
One of Obama’s Czars has actually done what he was hired to do. Kenneth Feinberg, WH pay Czar, has ordered that all bailed out executives that received any TARP monies, take deep pay cuts and make due with 90% of what they used to earn. This move will affect all seven companies that accepted monies from the ...
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- News Source: Fox News | about 1 month agoThis is according to the compensation decisions made by the Obama Administration’s so-called “pay czar,” Kenneth Feinberg. He will cut the salaries of the 25 highest-paid executives at these firms by up to 90%. And for more than 90% of...
- News Source: Truthdig | about 1 month agoOn Thursday, the House Financial Services Committee voted in favor of a bill aimed at creating the U.S. Consumer Financial Protection Agency, a watchdog organization designed in response to President Barack Obama’s call for greater oversight and...
- News Source: The Scotsman | about 1 month agoAmerican companies, which were bailed out by US taxpayers, are to have their salaries cut by up to 90 per cent. And US President Barack Obama's pledge to crack down on the fat-cat culture of big business will see drastic cuts in the pay taken home by...
- News Source: The Age | about 1 month agoBut the big reductions will not apply to pay earned before November. Kenneth Feinberg, the Treasury official leading the pay review, says average salaries for the top 25 executives are being cut 90 per cent starting next month. Feinberg says the...
- News Source: MarketWatch | about 1 month agoKenneth Feinberg, the Treasury Department official in charge of setting compensation for bailed-out companies, said Thursday his primary goal was to get the banks to the taxpayer's money. "Taxpayers are in deep with these seven firms," Feinberg,...
- News Source: Washington Post | about 1 month agoThe new agency is a central piece of President Obama's wide-ranging plan to overhaul the nation's financial regulatory system, and Thursday's vote marks a crucial step toward making that goal a reality. "This is a very significant advance, and I...
- Blog Source: motorcitytimes.comUnder the plan, which will be announced in the next few days by the Treasury Department, the seven companies that received the most assistance will have to cut the annual salaries of their 25 best-paid executives by an average of about ...
- Blog Source: www.huffingtonpost.comThis person said Wednesday that the Treasury Department will announce the deep pay cuts within the next few days. Kenneth Feinberg, the special master at Treasury appointed by Obama to handle compensation issues at the seven firms getting ... The
- Blog Source: eyugoslavia.comKenneth Feinberg, the Treasury official charged with overseeing salaries at bailed-out firms, will force executives to cut their total compensation packages by an average of 50 per cent, while salaries will be slashed 90 per cent. ...
- Blog Source: connpolitics.tvJeb Hensarling of Texas, a Republican member of the congressional panel that oversees the $700 billion fund, said the only way taxpayers end up “subsidizing offensive executive salaries is when the government bails out the executives ...
- Blog Source: ac360.blogs.cnn.comWe're talking about the following companies: AIG, Citigroup, Bank of America, GM, Chrysler, GMAC and Chrysler Financial. Is the move fair or is the government going too far? Tonight we've got too opposing view points and we'll let ... I'm glad that
- Video Source: www.truveo.comPresident Obama Caps Bailed ...Video Source: www.truveo.comPresident Obama Caps Bailed Out Executive Salaries
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