Skip to: Content
Skip to: Site Navigation
Skip to: Search
SUNDAY, NOVEMBER 22, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: golden parachutes

golden parachutes stories: 8 news summaries

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 »

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

(Newser) - If Rick Wagoner is upset about being forced out of his job as GM’s CEO, his $20 million retirement package should provide some consolation, ABC News reports. Though Treasury rules prevent Wagoner from collecting severance pay, the ousted exec is still eligible for an “Executive Retirement Plan” and... More »

MORE ABOUT:
executive compensation • General Motors • retirement • Rick Wagoner • golden parachutes • auto bailout

 Bailout Exec Pay 
 Limits Have No Bite 

Critics say White House added language to bailout bill that blunted super-pay language

Dec 15, 08 7:36 AM CST
(Newser) - Thanks to a last-minute change pushed by the Bush administration, the $700 billion bailout has a giant loophole Wall Street executives will be able to float golden parachutes through. Congress put unprecedented restrictions on lofty pay into the final bill, but the only enforceable one became inapplicable after a one-sentence... More »

MORE ABOUT:
Bush administration • executive compensation • Charles Grassley • golden parachutes • Wall Street bailout

Put the Brakes on
Car Chiefs' Pay: UAW Boss

Loans necessary to escape temporary bind, he adds

Dec 1, 08 4:11 AM CST
(Newser) - The nation's Big Three automakers should pledge to limit executive pay—including bonuses and severance packages—in exchange for federal money, insists the president of the United Auto Workers. Ron Gettelfinger warned that everyone is going to have to tighten his belt, including the rank-and-file, in order to save jobs.... More »

MORE ABOUT:
United Auto Workers • executive compensation • Michigan • wages • automaker • labor unions • Big Three • US automakers • golden parachutes

NY Probes AIG's Golden Parachutes, Spending 

Attorney general charges insurer with 'unwarranted and outrageous expenditures'

Oct 15, 08 3:56 PM CDT
(Newser) - New York's attorney general today called on AIG's directors to recover millions in “outrageous expenditures,” including golden parachutes to executives even as it neared the collapse that brought an $85 billion federal intervention, the Wall Street Journal reports. Andrew Cuomo is investigating whether the insurer broke state law... More »

MORE ABOUT:
executive compensation • Andrew Cuomo • AIG • New York Attorney General • bailout • golden parachutes • financial crisis

 White House Caves  
 on Golden Parachutes 

Paulson bows to pressure from lawmakers opposed to bailout paydays for CEOs

Sep 24, 08 3:40 PM CDT
(AP) - The White House bowed on a crucial change in the $700 billion bailout today ahead of a speech tonight in which President Bush hopes to pull loudly resistant lawmakers on board. Republican officials said Henry Paulson agreed to demands from critics in both parties to limit the “golden parachute”... More »

MORE ABOUT:
Bush administration • Wall Street • Henry Paulson • George W. Bush • golden parachutes • financial crisis

ANALYSIS

Her Golden Parachute Fine With McCain

'No analogy' between Fiorina's $45M from HP, subprime payouts

Sep 16, 08 2:10 PM CDT
(Newser) - John McCain and Sarah Palin made a point yesterday of blasting CEOs who left their companies with multimillion-dollar golden parachutes while workers and shareholders suffered. But McCain’s top economic adviser deployed just such a shiny parachute when Hewlett-Packard ousted her, ABC News reports. Carly Fiorina pocketed $45 million, even... More »

MORE ABOUT:
John McCain • CEO • Bear Stearns • Freddie Mac • Fannie Mae • Countrywide • Carly Fiorina • golden parachutes • Hewlett-Packard

Fannie, Freddie CEOs in Line for Millions in Severance

Mudd, Syron each stand to net at least $6M; critics rip 'pay for failure'

Sep 9, 08 11:12 AM CDT
(Newser) - The CEOs of Freddie Mac and Fannie Mae will receive millions in severance pay, pension payouts, and other benefits after the government’s takeover of the mortgage giants, the Los Angeles Times reports. Fannie’s Daniel Mudd stands to take away $7.3 million, and Freddie’s Richard Syron will... More »

MORE ABOUT:
Barack Obama • CEO • Freddie Mac • Fannie Mae • Richard Syron • bailout • Daniel Mudd • golden parachutes • financial crisis

8 Stories


from our news partners