
IPFS News Link • Philosophy: Fascism
Obama's Pay Czar to Release New Rulings on Executive Pay
• ABC NewsThe Obama administration's pay czar, Ken Feinberg, will release new rulings Friday morning on the pay packages for some of the highest-paid employees at six companies receiving what the administration deems "exceptional assistance" from the government.
and Chrysler Financial.
Feinberg will impose a $500,000 salary cap on these employees unless "good cause" can be proven, a source familiar with the situation told ABC News Thursday.
In late October, Feinberg issued his rulings for 2009 compensation for the 25 highest paid employees at the same six companies as well as Bank of America, which just this week repaid $45 billion in taxpayer money and is now exempt from Feinberg's supervision.