executive bonuses

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Geithner: Pay Changes Ahead for Bank Execs

(Newser) - The Obama administration intends to push for “very, very substantial change,” in the way Wall Street pays executives, Treasury Secretary Tim Geithner tells Bloomberg. “I don’t think we can go back to the way it was,” he said, arguing that the current big-bonus status quo...

US Weighs Shaving Bankers' Pay
US Weighs Shaving Bankers' Pay
May 13, 2009 5:17 AM CDT

US Weighs Shaving Bankers' Pay

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

(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...

Let Us Pay Out Bonuses, Citi Begs Geithner

Execs worry employees will bolt as bank chafes under pay restrictions

(Newser) - Citigroup is asking the Treasury for permission to pay special bonuses to many key employees it worries will leave the company—despite the fact that taxpayers will soon become the largest shareholder in the bank. Citi is chafing under Treasury restrictions on executive pay, particularly in its lucrative energy trading...

Big Paychecks Are Back on Wall Street

(Newser) - While millions of Americans struggle on reduced paychecks or unemployment, Wall Street is returning to the high salaries of yesteryear, the New York Times reports. Enjoying strong first-quarter profits, six of the most powerful banks have reserved $36 billion to pay workers—suggesting that paychecks and bonuses have recovered for...

As Staffers Take Pay Cuts, NYT Execs Get Bonuses

CEO's pay went up $1.5M last year

(Newser) - New York Times Co. executives have taken big bonuses as their newsrooms endure layoffs and pay cuts, a proxy statement filed with the SEC reveals. At the eye of the storm is CEO Janet Robinson, whose compensation in 2008 was more than $1 million greater than her 2007 salary and...

Taxpayers Must Become Activist Investors: Icahn
Taxpayers Must Become Activist Investors: Icahn
OPINION
Apr 16, 2009 11:05 AM CDT

Taxpayers Must Become Activist Investors: Icahn

What the government did at GM should be a lesson: get rid of bad leadership

(Newser) - Barney Frank was right when he said a retention bonus is “a nice word, it turns out, for extortion,” writes Carl Icahn for the Huffington Post. “Very few managers are irreplaceable, especially in this economy”—so why do they get paid extra to stay with a...

SEC Probes BofA for Being Mum on Merrill Bonuses

Bank may have illegally misled investors over pre-takeover Merrill payouts

(Newser) - The SEC is looking into whether Bank of America violated federal law by failing to let investors know Merrill Lynch planned to pay its execs $3.62 billion in bonuses before it was taken over by BofA last year, the Financial Times reports. The regulator is reviewing the bank's disclosure...

Fannie, Freddie to Pay $210M in Bonuses

(Newser) - Fannie Mae and Freddie Mac expect to pay roughly $210 million in retention bonuses over the next 18 months, reports the Wall Street Journal. Some 7,600 employees are slated to get bonuses, in some cases totaling as much as $1.5 million, in a program that has drawn sharp...

CEO Pay Sinks for First Time in 7 Years

As profits decline, so do bonuses, especially at financial firms

(Newser) - CEOs took a pay cut in 2008—their first in seven years—as profits plunged and brought bonuses with them. The median compensation for the leaders of 200 big US companies fell 8.5% to $2.24 million, the Wall Street Journal reports. That includes both salaries, which rose 4....

AIG Bonus Recipients in Europe Cry Blackmail

(Newser) - Some AIG executives in Europe think the demands that they return their bonuses are tantamount to "blackmail," Reuters reports. In fact, a compliance officer for Banque AIG unit in London asked UK authorities to determine whether the demands for repayment constitute extortion. He encouraged others in an email...

AIG Execs Repaying $50M in Bonuses: Cuomo

(Newser) - New York Attorney General Andrew Cuomo said today that most of the top bonus recipients at AIG have agreed to return the money, amounting to more than $50 million, the Wall Street Journal reports. Fifteen of the top 20 beneficiaries of $165 million at AIG's Financial Products unit—which played...

Bloomberg: Geithner's 'the Guy I Would Want'
 Bloomberg: Geithner's 
 'the Guy I Would Want' 
TALK SHOW ROUNDUP
Mar 22, 2009 11:17 AM CDT

Bloomberg: Geithner's 'the Guy I Would Want'

Frank: Let's sue AIG; Gregg: Congress unruly

(Newser) - Amidst calls for his ouster, Timothy Geithner can bank on big name supporters: Arnold Schwarzenegger told NBC’s Meet the Press he has confidence in the embattled Treasury secretary, while Michael Bloomberg added that Geithner “is exactly the guy that I would want.” On Fox News Sunday, Christina...

New Obama Plan Aims to Control Exec Pay

(Newser) - The White House will roll out a plan next week to oversee executive pay and more deeply regulate Wall Street, the New York Times reports. Officials are still debating the details, but under the proposal, the Fed will supervise compensation at financial firms, banks, and other companies—even ones that...

Senate GOP Slows Rush to Tax AIG Bonuses

(Newser) - Senate Republicans are drawing out a flap that has made the Obama administration squirm, the AP reports. Sen. Jon Kyl, the Republicans' vote counter, blocked Democratic efforts yesterday to bring up the Senate version of the tax bill to recoup most of the $165 million paid out by AIG last...

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