salary cap

8 Stories

FHFA: $600K Not Enough for Fannie, Freddie CEOs

Agency says better compensation needed to attract, keep top talent

(Newser) - Freddie Mac CEO Donald Layton and Fannie Mae CEO Tim Mayopoulos each earn a base salary of $600,000, plus money added to their retirement plans, under a 2012 salary cap put in place by the regulatory Federal Housing Finance Agency, Politico reports. But that may not be enough to... More »

Pay Czar OKs Rule-Busting Pay at Bailout Firms

$500K cap lifted for top auto industry execs

(Newser) - "Pay czar" Kenneth Feinberg has made more exceptions to the $500,000 salary cap for execs at bailed-out firms. Compensation packages approved this week include a $9.5 million plan for GMAC CEO Michael Carpenter, which includes a $950,000 salary, Reuters reports. The exemptions were agreed to because... More »

Pay Czar to Cap More Executive Salaries

Banks scramble to repay feds, free themselves from pay curbs

(Newser) - Treasury Department "pay czar" Kenneth Feinberg plans to start capping the salaries of second-tier execs at firms that received government assistance, according to company and government officials. The $500,000 cap, already imposed on top exec salaries, may now be applied to hundreds of other employees. The move has... More »

White House Shifts Course on Wall St. Pay

Salary caps will be dropped, but bonus restrictions remain

(Newser) - The Obama administration has scrapped plans for salary caps at banks and other firms that receive government bailout money, reports the Wall Street Journal. But congressional limits on bonuses will remain in force, and the White House will still push for major changes to executive compensation. The double whammy of... More »

Having Top NFL Draft Pick Is Now 'Lead Necklace'

(Newser) - As far as usefulness and entertainment value, Michael Rosenberg writes for Fox Sports, the NFL draft, which begins Saturday “is dead.” Inflated rookie contracts mean the worst teams have the privilege of paying exorbitant fees for unproven players. Take the Lions, 0-16 last season. Their “reward for... More »

Skirting Pay Cap Will Be a Piece of Cake

Obama proposal leaves wiggle room, and Wall St. usually good at finding it

(Newser) - The squeeze on big paydays for executives of bailed-out banks will probably leave Wall Street plenty of wiggle room. Consultants on executive pay say the caps imposed by President Obama yesterday will probably apply only to a few executives—not star traders, brokers, and salespeople who routinely earn whopping pay... More »

Tough German Bailout Caps Bank Salaries

Bonuses, dividends also nixed for troubled firms' execs

(Newser) - The German cabinet approved the terms of a $645 billion bailout plan today—which includes a salary cap for top bank managers. Banks who take part in the bailout must cap managers' salaries at about $670,000 and withhold bonuses and dividends. Some of Germany's top banks have said they... More »

Is the NBA Nearing a Tipping Point?

ESPN's Sports Guy trumpets the rise of 'chemacterility' in hoops

(Newser) - The team model that has won the San Antonio Spurs four championships in nine years—a focus on  chemistry, strong character, and salary cap flexibility—is starting to crop up elsewhere in the NBA, ESPN columnist Bill Simmons thinks. He's coined a word for it  "chemacterility."  It... More »

8 Stories