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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: executive compensation

executive compensation stories: 147 news summaries

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Wall Street Bonuses to Jump 40%

Expect political storm
as recovery juices incentive pay

Nov 5, 09 7:54 AM CST
(Newser) - The good times are back for much of Wall Street, with overall incentive pay set to jump 40% according to one key survey being released today. In businesses rebounding especially well, like fixed income and equities, the boost will likely be around 60%. That won’t quite bring them back... More »

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Wall Street • executive compensation • bonuses • executive bonuses

Exec Pensions Soared
as Stocks Tanked

Multi-million-dollar payouts escape pay watchdog scrutiny

Nov 3, 09 4:47 AM CST
(Newser) - Steep increases in the pensions of top execs passed largely unnoticed amid the recent uproar about pay and bonuses. The average pension for a top executive rose 19% last year even as share prices fell by an average of 37%. More than 200 execs saw pensions boosted by over 50%... More »

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executive compensation • pensions • retirement • compensation • executives • executive bonuses

 Pay Czar Cuts 
 Bonuses, But 
 Boosts Salaries 

Feinberg beefs up base base to help firms retain talent

Oct 28, 09 1:24 AM CDT
(Newser) - Base pay will increase for the majority of top execs in the finance and auto firms supervised by federal pay czar Kenneth Feinberg. Salaries are being bumped up—by hundreds of thousands of dollars in some cases—as bonuses and other perks are slashed. Despite the salary hikes, all 136... More »

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Chrysler • Citigroup • executive compensation • Bank of America • General Motors • AIG • bonuses • executive bonuses • Kenneth Feinberg • pay czar

 Ousted AIG CEO 
 Builds AIG 2— 
 With AIG Talent 

Greenberg's new insurer poaches AIG employees at taxpayers' expense

Oct 27, 09 7:47 AM CDT
(Newser) - Hank Greenberg built AIG into a $1 trillion behemoth that needed the biggest bailout in history—but quietly, the former CEO has begun a new insurance company, CV Starr, that is poaching some of AIG's leading talent. He just got an unintended assist from the Treasury: Tough new pay rules... More »

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Iraq • executive compensation • insurance • AIG • Hank Greenberg • bailout • financial crisis

DAVID BROOKS

 Get a  Clue, 
 Washington: 
 You Can't Do 
 Everything 

Effort to restructure exec pay smacks of arrogance

Oct 27, 09 5:10 AM CDT
(Newser) - Clamping down on arrogant, risk-taking execs with an overconfident attempt to overhaul private sector pay structures shows that the arrogance has migrated to the Obama administration, writes David Brooks. The government is trying to micro-manage compensation packages at a wide variety of firms when pay regulation should be done, humbly,... More »

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executive compensation • Treasury Department • financial sector • David Brooks • Obama administration • financial crisis

Steven Pearlstein

New Pay Rules May Hurt Banks, but Protect Public

They'll discourage commercial banks from being investment banks

Oct 23, 09 8:33 AM CDT
(Newser) - Steven Pearlstein isn't exactly wowed by the new salary rules being proposed for Wall Street. "Don't get carried away. By themselves, these measures won't prevent future crises, nor will they likely do much to lower the prevailing pay levels on Wall Street or in corporate America." But, he... More »

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Wall Street • executive compensation • Federal Reserve • banking industry • pay cut • Kenneth Feinberg

Fed Rolls Out Plan to Limit Bank Pay

It works in tandem
with pay czar's new compensation rules

Oct 22, 09 3:15 PM CDT
(Newser) - The Federal Reserve today officially announced a plan to regulate pay structures at banks, the same day the pay czar rolled out his plan to cap salaries at bailed-out firms. The administration’s double-whammy on compensation marks an unprecedented level of government involvement in the private sector, and the policies... More »

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executive compensation • Federal Reserve • bank • compensation • financial institutions • risk factors • Kenneth Feinberg

 50% Pay Cuts 
 for Bailout Execs 
 Due Today 

Warren confirms cuts to 25 top earners at 7 companies

Oct 22, 09 9:40 AM CDT
(AP) - The Treasury Department today is expected to order seven companies that have not paid back last year's US government bailouts to halve their top executives' average compensation. The cuts apply to the 25 highest-paid executives at banks and other companies that received the most assistance, with salaries being slashed by... More »

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Chrysler • executive compensation • Bank of America • General Motors • Citibank • AIG • Treasury Department • Obama administration • Wall Street bailout • TARP • Elizabeth Warren • Kenneth Feinberg

Pay Czar Slashes Top Salaries at 7 Bailed-Out Firms

175 top earners will see pay cuts averaging 50%

Oct 21, 09 3:53 PM CDT
(Newser) - President Obama’s pay czar will cut compensation for the 25 highest-paid employees at seven companies that took large amounts of government aid. The 175 executives will face salary reductions of 90%, but with other compensation elements added in, the total reductions average 50%. Ken Feinberg also will require the... More »

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Chrysler • Citigroup • executive compensation • Bank of America • General Motors • AIG • compensation • bailout • GMAC • Wall Street bailout • pay czar

Goldman Exec: Pay Inequality Is Good for All

Soaring Wall Street bonuses should be tolerated for economy's sake

Oct 21, 09 6:00 AM CDT
(Newser) - Believe it or not, lavish Goldman Sachs bonuses are good news for everybody, a company official told a discussion panel yesterday. The out-of-whack pay inequality will give the economy a kick in the pants, insisted the vice chairman of Goldman Sachs International. "We have to tolerate the inequality to... More »

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executive compensation • Goldman Sachs • bank • bonuses • financial sector • executive bonuses

 Bailed-Out Banks 
 Boost CEO Perks 

From private jets to bodyguards, they just keep taking

Oct 20, 09 6:32 AM CDT
(Newser) - The CEOs of bailed-out banks and financial companies saw their perks and benefits—ranging from private jet use and country club membership to free parking and bodyguards—rise even at the height of the crisis last year. On average, the CEOs of the 29 biggest companies that received federal money... More »

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executive compensation • CEO • bank • bailout • executives • financial crisis • perks

Wasserstein's Death Triggers $188M Payout

Lazard chief to go down as one of history's richest bankers

Oct 16, 09 4:17 AM CDT
(Newser) - It'll take more than just death to stop legendary Wall Street dealmaker Bruce Wasserstein making money. The Lazard chief's death on Wednesday triggered the vesting of $188 million in stock options, swelling a fortune recently estimated at $2.2 billion and cementing his status as one of the highest-paid bankers... More »

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executive compensation • investment bankers • banking • Bruce Wasserstein • Lazard

Q3 EARNINGS

Goldman Tops $3B in Profit, Blows By Estimates

Bank triples profit last year, sets $5.3B aside for pay, bonuses

Oct 15, 09 7:13 AM CDT
(Newser) - Goldman Sachs is even more golden than we'd thought. The top firm on Wall Street posted a record third-quarter profit of $3.19 billion, a billion dollars higher than expected, thanks to returns on advising on takeovers and more aggressive investing. That quarterly result more than triples the $845 million... More »

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executive compensation • Goldman Sachs • earnings reports • third quarter earnings • Lloyd Blankfein

Once-Reserved Goldman Turns on the Charm

Ahead of record result, normally reticent bank puts on a smile

Oct 15, 09 3:35 AM CDT
(Newser) - Today's the day: Goldman Sachs is set to announce record profits in the third quarter, projected at $2.17 billion, and with it a compensation pool larger than Wall Street has ever seen. But the golden bank knows a PR disaster when it sees one—and has been mounting a... More »

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Wall Street • executive compensation • Goldman Sachs • bonuses • third quarter earnings • Lloyd Blankfein • quarterly profits • executive bonuses

 Wall Street 
 Forking Out 
 Record Pay 

Pay at top firms expected to hit $140B as markets rebound

Oct 14, 09 5:36 AM CDT
(Newser) - Major financial firms have bounced back from the brink of meltdown and are on course to hand out their biggest-ever pay packages this year. The total payout at the big banks and securities firms will hit $140 billion this year, according to Wall Street Journal projections based on revenue figures... More »

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Wall Street • executive compensation • Goldman Sachs • bank • financial institutions • executive bonuses

OPINION

Stop Whining, Let Goldman Have Bonuses

$23B is galling, but
at least the bank is sensible: Sorkin

Oct 13, 09 5:45 AM CDT
(Newser) - On Thursday Goldman Sachs is set to announce its third-quarter results, but the talk of Wall Street is the size of this year's bonus pool—predicted to be more than $23 billion. That's the largest figure in the company's history and twice as much as it paid out in 2008,... More »

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executive compensation • Goldman Sachs • bonuses • financial crisis • Wall Street bailout • Andrew Ross Sorkin • clawback • executive bonuses

Lewis Due a Mere $53M
From BofA Pension Plan

But President Obama's pay czar could yet step in on that, millions in stock

Oct 1, 09 8:08 PM CDT
(Newser) - An executive pension plan Bank of America stopped in 2001—along with “golden parachute” balloon payments to execs leaving the company—will yield about $53 million for departing CEO Ken Lewis. Lewis, 62, participated for years in the plan, which was frozen the year he ascended to the top... More »

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stock market • executive compensation • Bank of America • retirement • golden parachutes • financial crisis • Ken Lewis • pension plan

(Newser) - US bank CEOs are paid drastically more than their counterparts around the world. The CEO of Commercial Bank of China, the largest bank in the world, brings home just $234,700 a year—or roughly 2% of JP Morgan boss Jamie Dimon’s $19.6 million haul. The US has... More »

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executive compensation • CEO • banking industry • Jamie Dimon

Goldman May Break Charter to Duck Pay Rules

Investors see financial giant shedding
year-old bank status

Sep 23, 09 8:15 AM CDT
(Newser) - With the Federal Reserve busily drafting rules to limit pay for bank executives, some investors believe Goldman Sachs will simply stop being a bank, Reuters reports. By shedding its year-old commercial banking charter, acquired in the heat of the financial meltdown to ensure access to credit, Goldman could elude restrictions... More »

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executive compensation • Goldman Sachs • Federal Reserve • bank • bank regulation • banking industry

OPINION

Fed Shows Backbone, but
Obama Cowers Before Banks

Reining in pay is good politics, good economics: Krugman

Sep 21, 09 8:48 AM CDT
(Newser) - Just as the recession wanes and the financial system shows signs of the health, banks are returning to their worst habits, says Paul Krugman. Not only are paychecks soaring to pre-Lehman levels, but the financial sector is using its muscle to block "even the most minimal reforms." While... More »

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Barack Obama • executive compensation • Federal Reserve • bonuses • bankers • Obama administration • financial crisis • executive bonuses

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