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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: executive compensation

executive compensation stories: 150 news summaries

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(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

 Cost-Cutting Companies 
 Target No. 2  Execs 

Corporations eliminate second-in-command roles to save on costs

Sep 21, 09 8:27 AM CDT
(Newser) - Cost-cutting at American's largest corporations is hitting the executive suite, with CEOs rolling up their sleeves to take on more day-to-day responsibilities and laying off their No. 2s. In the 18 months leading up to June 2009, 40 major companies eliminated COOs or presidents, the Wall Street Journal notes, while... More »

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AOL • executive compensation • CEO • recession • corporations • corporate governance • Chief Executive • management • COO • financial crisis

 Fed Plans 
 to Oversee 
 Bankers' Pay 

Sweeping new rules will let central bank reject risky compensation plans

Sep 18, 09 5:48 AM CDT
(Newser) - A wide-ranging plan by the Federal Reserve to limit executive pay would allow government regulators to probe private financial institution's pay practices—and let the Fed block any policy it thinks may encourage undue risk. The plan is still being formulated and won't be finished for weeks, but it requires... More »

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Wall Street • executive compensation • Federal Reserve • bonuses • compensation • risky trading • clawback • executive bonuses

(Newser) - On the heels of its 2009 Most Powerful Women list, Fortune has compiled another of the best compensated females in the corporate world. The top 10 for 2008:
  1. Safra Katz, president, Oracle: $42.4 million
  2. Linda Chen, president, Wynn International Marketing: $23.9 million
  3. Sharen Turney, president and CEO,
... More »

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executive compensation • women • Pepsi • Oracle • Kraft Foods • Indra Nooyi • Patricia Woertz • Irene Rosenfeld • Victoria's Secret • Hewlett-Packard • Safra Katz • Linda Chen • Sharen Turney • Wellington Denahan-Norris • Andrea Jung • Ann Livermore • Candice Bagby • Avon

 Highest-Paid 
 Men in America 

Chesapeake CEO
tops list, but Goldman grabs 3 slots

Sep 15, 09 1:16 PM CDT
(Newser) - Fortune’s just released its annual list of the country’s highest-paid men and women. The men come out on top, with the top-paid man making two and a half times what the top woman makes. The top 10 men are below, along with total 2008 compensation.
  1. Aubrey
... More »

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executive compensation • men • compensation

Goldman CEO: Populist Rage 'Appropriate'...

... For money-losing banks, not Blankfein's, which hiked pay 33%

Sep 10, 09 1:53 AM CDT
(Newser) - The CEO of Goldman Sachs joined the debate over executive compensation yesterday, telling a conference in Frankfurt that public anger was "understandable and appropriate" for money-losing institutions who hand out fat bonuses. But, notes the Wall Street Journal, Lloyd Blankfein stopped short of criticizing his own firm, and... More »

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executive compensation • Goldman Sachs • bonuses • Lloyd Blankfein • investment banks • executive bonuses

(Newser) - Just because top banking executives took home hefty paychecks in recent months doesn't mean they'll get to keep the money, reports Reuters. White House pay czar Kenneth Feinberg declared he has clear authority to "claw back" egregious bonuses already paid out by any bank that received federal TARP money.... More »

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Chrysler • Citigroup • executive compensation • Bank of America • Goldman Sachs • General Motors • bailout • GMAC • American International Group • executive bonuses • Kenneth Feinberg • pay czar

(Newser) - The return of hefty profits on Wall Street doesn't mean that banks are returning to previous bad behavior, Tim Geithner insists. In an interview with the Wall Street Journal, the Treasury secretary says the big banks are safer now because "they're running with much less leverage," greater liquidity,... More »

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executive compensation • bank • Obama administration • banks • deleveraging • Treasury secretary • Wall Street bailout • Timothy Geithner

(Newser) - Robert Benmosche has been at the head of AIG for 48 hours now, so naturally it's time for a vacation. The new CEO of the four-times-bailed-out insurer is leaving for his 8,000-square foot villa on the Adriatic for the next two weeks. "It’s probably not a propitious... More »

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executive compensation • Croatia • vacation • AIG • bailout • financial crisis • Wall Street bailout • Robert Benmosche

(Newser) - The judge who has refused to sign off on Bank of America's settlement with the SEC over $3.6 billion in bonuses paid to Merrill Lynch delivered a stinging rebuke to both parties in a hearing yesterday, the New York Times reports. The firms "effectively lied to their shareholders"... More »

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executive compensation • Bank of America • federal courts • Merrill Lynch • SEC • bonuses • John Thain • executive bonuses • Jed Rakoff

Obama's Pay Czar Meets With Bailed-Out Firms

Must make tricky decision on how much top execs get paid

Aug 9, 09 12:34 PM CDT
(Newser) - Kenneth Feinberg has one of the hardest jobs in America: Filling in the amount on the paychecks of top execs at the seven firms that received the biggest government bailouts, the Washington Post reports. Feinberg has the power to set the pay for the 125 most highly paid employees at... More »

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Citigroup • executive compensation • Bank of America • AIG • GMAC • performance pay • Kenneth Feinberg

(Newser) - Federal agencies are taking a close look at Goldman Sachs' pay practices and use of credit instruments as the firm's profits rebound to record-breaking levels, the Los Angeles Times reports. The company, which says it is complying with the dual investigations, has paid back its $10 billion TARP loan, but... More »

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executive compensation • Goldman Sachs • derivatives market • Troubled Asset Relief Program • financial crisis • TARP

(Newser) - The big banks should rein in the "eye-popping" salaries they pay top execs and shift to a more principles-based rewards system, FDIC chief Sheila Bair tells Bloomberg. Bair, along with House Democrats and New York's attorney general, says if the banks don't change their ways, regulators should set... More »

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executive compensation • Andrew Cuomo • bonuses • FDIC • risky trading • Sheila Bair

TARP-Funded Banks Kept Awarding Bonuses

Firms paid more than they made: Cuomo

Jul 30, 09 12:52 PM CDT
(Newser) - The financial crisis and government bailouts did little to change Wall Street’s executive compensation habits, New York's attorney general says. All nine banks given assistance by TARP paid out bonuses in 2008—well before any paid back government loans, according to a survey ordered by Andrew Cuomo. Goldman Sachs,... More »

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Citigroup • executive compensation • Bank of America • Goldman Sachs • Merrill Lynch • Andrew Cuomo • bonuses • bailout • Troubled Asset Relief Program • Wall Street bailout • TARP

(Newser) - Andrew J. Hall, the man who runs Citi’s shadowy energy-trading unit, is demanding the company pay him up to $100 million to honor a previously agreed-upon 2009 pay package, the Wall Street Journal reports. If Citi doesn’t pay up, Hall could walk and sue, but paying could... More »

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Citigroup • executive compensation • compensation • trader • TARP • Andrew Hall

ANALYSIS

 Social Security Suffers 
 as Execs' Pay Soars 

Top-paid workers get a third of total US pay

Jul 21, 09 9:32 AM CDT
(Newser) - Executives and other employees earning top dollar pull in more than a third of all US pay, the Wall Street Journal finds—and the ceiling on compensation subject to payroll taxes hasn’t risen enough accordingly, meaning the government isn’t bringing in what’s needed to plug ever-growing holes... More »

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executive compensation • Social Security • financial sector • financial institutions • executives • payroll taxes • taxation

Wall Street Pay Packages Roar Back, Led by Goldman

Goldman set to pay $700K per employee at current levels

Jul 2, 09 5:32 AM CDT
(Newser) - It didn't take long: After a year of public apologies and vows to change, big pay packages are back on Wall Street. Goldman Sachs is set to pay about $700,000 per employee in 2009 based on current figures, nearly double last year's figure and even higher than before the... More »

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executive compensation • Goldman Sachs • junk bonds • bonuses • mortgage backed securities • trader • salaries

(Newser) - Citigroup will raise salaries for investment bankers and traders as much as 50% to offset a steep falloff in bonus pay and keep the company’s compensation package competitive, Bloomberg reports. Other employees, like those in the consumer banking section, will receive smaller raises. Citi, which took $45 billion in... More »

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Citigroup • executive compensation • salary • Citibank • investment bankers • bonuses • stock options • financial crisis • Wall Street bailout • traders • raise

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