Article Image
News Link • Philosophy: Fascism

Obama's Pay Czar to Release New Rulings on Executive Pay

• ABC News

The 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.

Not much has changed in terms of pay since the banking meltdown.
The rulings will cover 2009 compensation for the 26th to 100th highest-paid employees at six companies: AIG, Citigroup, GM, Chrysler, and the automakers' respective financing arms -- GMAC

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.


Join us on our Social Networks:


Share this page with your friends on your favorite social network: