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Article: Pay Czar Seeks to Limit Salaries - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- October 7, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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Pay Czar Seeks to Limit Salaries - Analyst Blog
In the course of the review of the aptness of the richest pay packages proposed by seven financial firms that received $200 billion in government aid, the U.S. pay czar Kenneth Feinberg is planning to cut the annual cash salaries for many of the top executives whose firms accepted bailout funds.
As an alternative to paying large cash salaries, the pay czar is planning to shift a large portion of an employee's annual salary to stock that cannot be accessed for several years. The percentage of salary to be diverted to stock is not yet clear, but it could be above 50% in some cases.
The stock compensation would be in addition ...
Related newspaper, magazine, and journal articles:
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Article: Pay czar's personality is as big as the problems ...
The Boston Globe;
December 8, 2009 ;
700+ words
... ... settlements, now President Obama's "pay czar" - walks into the room and begins ... Washington, Feinberg's job as pay czar is to determine the pay of the ... Bank of America, Citigroup, American International Group, General Motors, GMAC ...
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