October 22, 2009
Top earners at financial and auto companies bailed out by the U.S. government will see their pay slashed under an Obama administration plan aimed at addressing public outrage over eye-popping paychecks, two sources familiar with the matter said on Wednesday. …
August 25, 2009
Citigroup Inc., Bank of America Corp. and AIG are forging new employment contracts that let them void compensation agreements if they are challenged by the U.S. government, according to a person familiar with some recent contracts. According to excerpts of …
August 17, 2009
Kenneth Feinberg, the Obama administration’s pay czar, said on Sunday he has broad and “binding” authority over executive compensation, including the ability to “claw back” money already paid, and he is weighing how and whether to use that power. Feinberg …