executive compensation

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Citi Boss Vikram Pandit Scores Huge Bonus

He'll make at least $23.2 million; had been earning $1

(Newser) - Vikram Pandit isn’t the lowest-paid guy on Wall Street anymore. Citigroup has rewarded its CEO, who has worked for a token $1 salary for the past two years, with a massive retention package. If the company hits its estimated performance, Pandit will make $23.2 million in stock and...

CEO Salaries Climb Above Pre-Recession Levels

Average S&P company doling out $9M

(Newser) - Did you know there was some kind of recession recently? You wouldn't, if you looked at CEO paychecks. CEOs were paid more last year than they were in 2007, when unemployment was at half what it is now and the stock market was at record highs, the AP reports....

JPMorgan CEO Gets 1500% Raise

Plus, see what other CEOs made in 2010

(Newser) - Jamie Dimon had a pretty decent year: The JPMorgan CEO, who steered his bank through Wall Street's meltdown and saw it emerge as arguably the healthiest US bank, took home $20.8 million last year. That's up roughly 1500% over his $1.3 million compensation package the year before, notes...

Nuns Rap Goldman Sachs Fatcats for Pay

After Lloyd Blankfein's compensation almost doubles to $19M

(Newser) - Lloyd Blankfein’s salary nearly doubled in 2010 to a total of around $19 million—and the Catholic church isn’t happy about it. Four orders of nuns that invest with Goldman Sachs have all signed on to a proposal demanding the bank review its compensation policy, the Guardian reports....

Fannie, Freddie Execs Improperly Paid Big Bucks
Fannie, Freddie Execs Improperly Paid Big Bucks
says report
Apr 1, 2011 9:38 AM CDT

Fannie, Freddie Execs Improperly Paid Big Bucks

Government hasn't been transparent enough, report complains

(Newser) - The federal government has improperly paid the CEOs of Fannie Mae and Freddie Mac huge salaries while the housing giants have been under government control, the Inspector General of the Federal Housing Finance Agency concludes in a new report. The CEOs were paid a total of $17.1 million in...

CEO Bonuses Shoot Up 30.5%
 CEO Bonuses Shoot Up 30.5% 
Mar 18, 2011 12:59 PM CDT

CEO Bonuses Shoot Up 30.5%

Some shareholders express disapproval

(Newser) - So far, it’s looking like 2010 was a banner year for CEOs. An analysis of disclosures released by 50 major corporations reveals that the median CEO bonus jumped 30.5%, the Wall Street Journal reports, significantly outpacing the companies’ 19.4% median net income growth. Some of the biggest...

Average Goldman Pay for 2010: $430K

Numbers lower than expected as revenue drops

(Newser) - Goldman Sachs employees will receive lower-than-expected average pay of $430,700 this year, 14% less than last year’s average of $498,246, Bloomberg reports. Estimates prior to the release of the numbers pinned the figure around $450,000, according to the Independent . The bank’s compensation and benefits expense,...

Wall Street Pay to Break Records (Again)

Pay up 4% from previous record, set last year

(Newser) - Wall Street is set to break the compensation records it set just last year, the Wall Street Journal reports. In a survey of 35 publicly traded securities and investment-services firms, 26 were expected to boost compensation, bringing total pay up to $144 billion—up 4% from last year’s $139...

Warren Buffett: Cut Taxes, But Not for the Rich

Billionaire slams tax system, Wall Street 'casino' pay

(Newser) - Finance wiz Warren Buffett believes taxes should be cut—but not for him or other wealthy Americans. The 80-year-old investor, speaking at the Most Powerful Women summit in Washington, said it's absurd how he pays the lowest rate of tax of anybody in his office, including the cleaning lady, CNN...

Top 25 Highest-Paid Women
 Top 25 Highest-Paid Women 
Oct 1, 2010 5:16 PM CDT

Top 25 Highest-Paid Women

Fortune ranks corporate hotshots

(Newser) - Which female executives are taking home the most cash? Fortune ranks the top 25 corporate bigwigs based on 2009 compensation. Here's the top of the list:
  1. Carol Bartz, Yahoo; president and CEO: $47.2 million.
  2. Safra Catz, Oracle; president: $36.4 million.

Health Insurance Execs Cash In, Jack Premiums

Those heading 5 biggest companies took home $200M

(Newser) - As their companies slammed policyholders with double-digit rate increases, top executives at the nation's five largest insurance companies gave themselves hefty raises last year, pulling in a total of almost $200 million. Of the heads of Cigna, Humana, UnitedHealth Group, WellPoint, and Aetna, only one took a paycut—Aetna's CEO...

BP Boss to Get $18M Golden Parachute

 Hayward to 
 Get $18M 
 Golden 
 Parachute 
and a new job...in siberia
Jul 27, 2010 7:36 AM CDT

Hayward to Get $18M Golden Parachute

Lawmakers slam payoff for Tony Hayward

(Newser) - Booted BP boss Tony Hayward will be getting a compensation package worth more than $18 million to soften the blow of having to step down amid heavy criticism. Hayward, who is leaving by mutual consent in October after 28 years with the firm, has a contract which includes a $930,...

17 TARP Banks Paid Execs Billions: Pay Czar

Payments would have violated later guidelines

(Newser) - Seventeen banks gave their top executives $1.6 billion in lavish payments while they were receiving billions of dollars in taxpayer-funded bailouts, the Treasury Department's compensation chief said today. Kenneth Feinberg said he did not have the authority to ask the firms to repay the money handed out during the...

Wall Street Hiring Jumps
 Wall Street Hiring Jumps 
Jun 29, 2010 4:23 AM CDT

Wall Street Hiring Jumps

Bonuses back in fashion as firms lure execs

(Newser) - Happy days are here again for Wall Street workers. The big banks have gone on a hiring spree over the last few months and competition for the best execs is heating up, sending salaries upwards and spurring firms to start offering perks and hefty bonuses again, Bloomberg reports. Recruiters say...

Hedge Fund Managers Rake In Record $25B

Top 25 managers cleaned up by betting on bank bailout

(Newser) - Betting correctly that the federal government would not let more banks fail after the cruel denouement of 2008, hedge fund managers engineered a record payday for themselves in 2009. The top 25 brought in $25.3 billion, topping 2007’s record by a healthy margin, and the $4 billion taken...

Revamped Bonuses Screw Up Wall St. Divorces

Deferred stock payments complicate settlements

(Newser) - Wall Street’s new post-crisis pay structures are making divorce a complicated proposition for many bankers, traders, and executives. To encourage long-term thinking, many bonuses are now composed largely of stock that can’t be converted to cash for years. It’s “throwing a massive monkey wrench into the...

Pay Czar to Examine Salaries at Bailed-Out Firms

Feinberg to review compensation for top 25 executives

(Newser) - The "pay czar" will review salaries and bonuses of executives at financial firms that have received government help. Kenneth Feinberg will examine the compensation of the top 25 executives at Goldman Sachs, Citigroup, JPMorgan Chase, and 417 other firms that took TARP money. If he finds evidence of risky...

Shareholders Sue Goldman Sachs for Overpaying Execs

Union seeks to claw back from 'vastly overcompensated' honchos

(Newser) - Shareholders are losing out because Goldman Sachs executives are "unreasonably overpaid," a lawsuit filed by a union pension fund charges. The suit from the International Brotherhood of Electric Workers fund seeks to block Goldman from spending almost half of its net revenue on executive compensation and to recover...

Morgan Stanley Boss: Bankers Are Overpaid

But that's not going to change unless Washington steps in

(Newser) - John Mack, chairman and former CEO of Morgan Stanley, says Wall Street overpays its bankers, but that won’t change unless Washington steps in. “I still don’t think the industry gets it,” he said at an event yesterday. “The issue is not structure, it is amount....

Latvian 'Matrix' Hacker Exposes Corrupt Gov't

'Neo' digging out damning documents

(Newser) - A hacker on a mission to expose greed and waste in high places is rapidly becoming a folk hero in recession-hammered Latvia. The hacker, who uses the name Neo from the hero in the Matrix film series, has exposed the salaries of top government officials online and revealed that managers...

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