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Article: Pay Czar to Allow Competitive Pay - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- November 13, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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Pay Czar to Allow Competitive Pay - Analyst Blog
The U.S. Treasury's pay czar, who oversees compensation for the highest-paid employees at the firms that received U.S. taxpayer assistance, said on Thursday that he is concerned that pay cuts could obstruct the ability of these firms to retain and attract top talent. However, the pay czar would be open to requests to hire new executives at competitive industry rates.
The pay czar, Kenneth Feinberg, decides compensation packages for the highest-paid employees at the seven firms that have received substantial support from the Troubled Asset Relief Program (TARP). The pay restrictions were imposed on these firms to enable them to ...