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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: compensation

compensation stories: 29 news summaries

1 - 20 of 29 Stories | 1 2 Next >>

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$250K APIECE

Bonuses at Morgan Stanley, JPMorgan, Goldman Hit $30B

Average payout will be five times median household income in US

Nov 9, 09 4:55 AM CST
(Newser) - Recession? What recession? Some Wall Street firms are not feeling any pain this year as record bonuses at just three of the top firms are likely to hit an eye-popping $30 billion. Goldman Sachs, Morgan Stanley and JPMorgan Chase, the three biggest banks to be bailed out by the feds,... More »

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executive compensation • Goldman Sachs • Morgan Stanley • bonuses • compensation • Federal government • bailout • JPMorgan Chase • executives • Wall Street bailout • TARP

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

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

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

 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

 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

(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

(Newser) - Unabomber Ted Kacynski is battling plans by the federal government to auction his belongings, including diaries, typewriters, a hatchet, and his trademark sunglasses and hooded jacket, reports CNN. Proceeds of the sales will go to four wounded survivors of his  mail bomb attacks who are owed $15 million awarded to... More »

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crime • auction • bomb • compensation • victim • Unabomber • Ted Kacynski • bomb victims

US Weighs Shaving Bankers' Pay

Planned rules may apply to banks that weren't bailed out

May 13, 09 5:17 AM CDT
(Newser) - The Obama administration has begun an ambitious project to overhaul compensation practices across the financial  sector, including at firms that received no bailout, reports the Wall Street Journal. The government may use the powers of the Fed or the SEC, as well as congressional legislation, to prevent banks from rewarding... More »

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Barack Obama • executive compensation • Federal Reserve • SEC • bonuses • compensation • American Bankers Association • Timothy Geithner • Securities and Exchange Commission • executive bonuses • Jay-ZTV

 State AGs Probe AIG Bonuses 

Coalition of 19 state officials demands list of AIG bonus recipients

Mar 20, 09 2:01 PM CDT
(Newser) - The attorneys general of 19 states have joined forces to investigate the bonus payments made to AIG employees, the Wall Street Journal reports. In a letter to the firm, the coalition demands a list of all employees of the financial products unit who received bonuses after the government started providing... More »

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investigation • AIG • bonuses • compensation • bailout • attorneys general • Wall Street bailout

 Obama 
 Goes After 
 AIG Bonuses 

President instructs Geithner to use "every legal avenue" to reclaim funds

Mar 16, 09 12:16 PM CDT
(Newser) - President Obama has asked Tim Geithner to use “every legal avenue” to prevent AIG from paying out $165 million in bonuses to top employees who had a hand in the company's near-collapse, the Wall Street Journal reports. "This isn't just a matter of dollars and cents. It's about... More »

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Barack Obama • derivatives market • AIG • bonuses • compensation • bailout • financial crisis • Timothy Geithner

OPINION

Autoworkers, Bankers Have a Lot in Common

Exorbitant pay of both brought down their respective industries

Feb 18, 09 9:11 AM CST
(Newser) - They may not seem all that similar, but Detroit’s autoworkers and Wall Street’s bankers have the same story, writes Steven Pearlstein in the Washington Post. From the 1950s up until, say, yesterday, "autoworkers were the aristocrats of the blue-collar world, (and) Wall Street traders and... More »

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Wall Street • Detroit • auto industry • compensation • banking industry • financial crisis • Steven Pearlstein

(Newser) - A top judicial authority in France ruled today that the nation was guilty of deporting Jews in the Second World War, the Times of London reports. The landmark decision, confirming France's legal responsibility for the first time, left victims' families frustrated by refusing to give compensation. “The different measures... More »

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Holocaust • France • Jews • lawsuit • compensation

'Vaccine Court' Denies Families' Autism Claim

MMR vaccine and thimerosal don't combine to cause autism, panel finds

Feb 12, 09 11:41 AM CST
(Newser) - A special court has ruled that a common vaccine did not cause autism in three children, CNN reports. Three test-case families who claimed the vaccine for measles, mumps, and rubella in combination with the preservative thimerosal caused their children’s autism were denied compensation by the panel, which ruled that... More »

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autism • vaccination • vaccine • Department of Health • court • compensation • Michelle Cedillo

 Wall St. Braces for Lower Pay, 
 Less Risk-Taking 

Gov't, public pressure forces shift in expectations

Jan 31, 09 9:13 AM CST
(Newser) - With the new president joining the chorus of outrage against bonuses for bailed-out Wall Street firms, bankers are grappling with the notion that long-held pay expectations will have to change, the Wall Street Journal reports. Eager to avert government crackdown, firms are expected to shrink and perhaps defer bonuses, to... More »

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Wall Street • culture • compensation • bailout • business models • Obama administration • President Obama • TARP

 Recession Hits Law Firms 


Jan 26, 09 2:18 PM CST
(Newser) - Law firms, once thought to be better able than most to weather sour economies, are finding themselves in a tough spot these days, the Wall Street Journal reports. While bankruptcy practices are holding steady, business in litigation has fallen off steeply as corporate clients settle instead of writing checks... More »

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mergers and acquisitions • recession • lawyer • compensation • attorney • corporate law firms • white knight • client • recession depression

Hubby Wants Kidney Back
in Divorce

Doc wants cheating wife to return donation or pony up $1.5M

Jan 8, 09 8:40 AM CST
(Newser) - A doctor is demanding that his soon-to-be ex-wife return his donated kidney—or at least the $1.5 million he says the transplant is worth—as the pair divvy up their assets in a divorce, Newsday reports. Richard Batista says his wife jumped into bed with her physical therapist just... More »

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divorce • New York • marriage • love • kidney transplant • compensation • divorce settlement • organ donation

Profits Were Fake, Bonuses All Too Real

How risky schemes
left bankers flush, banks broke

Dec 18, 08 8:36 AM CST
(Newser) - Dow Kim was one of the leading bond traders at Merrill Lynch, and in 2006 he bundled together $500 million in loans into a huge CDO with the charming name Costa Bella. Since the subprime collapse, Costa Bella has cost Merrill millions—but Kim had already cashed out, awarded a... More »

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executive compensation • Merrill Lynch • CDO • bonuses • mortgage backed securities • compensation • collateralized debt obligations • financial crisis

Bush Helps Shield Iraq From Gulf War Legal Claims

Compensation could bankrupt country, it says; Americans hurt by Saddam differ

Dec 11, 08 11:25 AM CST
(Newser) - President Bush has wedged himself between Americans and Iraq by supporting a UN measure that stops financial claims against the fledgling democracy. Iraq faces bankruptcy if claims are added to $26 billion it already owes companies and individuals who suffered in the first Gulf war. But the temporary plug keeps... More »

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Iraq • Bush administration • United Nations • Iraq government • compensation • Gulf War • Iraq security

ANALYSIS

Execs Were Paid $3B to Lay Credit Crisis Foundation

Wall Street chieftains were well rewarded for risks they took in 2003-07

Sep 26, 08 5:45 PM CDT
(Newser) - More than $3 billion was paid to the chief executives of the five biggest financial firms on Wall Street in the run-up to the credit crisis, Bloomberg reports. While supervising bad mortgage-related credit bets that eventually brought the financial system to its knees, Merrill Lynch’s Stanley O’Neal took... More »

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executive compensation • Goldman Sachs • CEO • Henry Paulson • Bear Stearns • Merrill Lynch • James Cayne • credit crisis • Stanley O'Neal • compensation • investment banks • JPMorgan Chase • financial crisis

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