Bloomberg (Free subscription) | 11/27/2009
Nov. 27 (Bloomberg) -- Bank of America Corp., the biggest U.S. bank by assets, said Chief Financial Officer Joe L. Price and mortgage head Barbara Desoer will receive less in salary for 2009, citing a review by U.S. paymaster Kenneth Feinberg.
Reuters (Free subscription) | 11/24/2009
(Reuters) - Kenneth Feinberg, the Obama administration's pay czar, is being pressed by federal officials to relax executive compensation restrictions at American International Group Inc for 2010, the Wall Street Journal reported, citing people familiar with the matter.
BloggingStocks (Free subscription) | 11/24/2009
Filed under: Management , Amer Intl Group (AIG) While Timothy Geithner gets deservedly raked over the coals for handling the America International Group ( AIG ) "negotiations" with kid gloves, federal officials are pressuring executive pay czar Kenneth Feinberg to ease pay restrictions on the company for the year 2010. The concern is that tight pay restrictions, while politically...
News-Insurances (Free subscription) | 11/24/2009
Federal officials have been urging pay czar Kenneth Feinberg to ease the compensation restrictions at AIG for 2010, according to the Wall Street Journal, arguing that the taxpayer would ultimately bear the burden if the restrictions are too severe. Feinberg last month announced cuts in 2009 compensation, including salaries and stock, for the top 13 [...]
Market Watch (Free subscription) | 11 hours ago
Bank of America Corp. alters the salaries of two top executives, including cutting their base pay by more than a third, with approval from the White House special master overseeing bank pay, Kenneth Feinberg.
Denver Post (Free subscription) | 11/28/2009
Bank of America Corp., the biggest U.S. bank by assets, said chief financial officer Joe Price and mortgage head Barbara Desoer will receive less in salary this year, citing a review by U.S. paymaster Kenneth Feinberg.
Reuters (Free subscription) | 11/28/2009
... America's compensation plans are reviewed by the U.S. Treasury's special master for executive pay, Kenneth Feinberg, as the bank took $45 billion of bailout funds.The bank is looking for a new chief executive after CEO Kenneth Lewis announced he would retire by year-end following months of being dogged by a series of government investigations into the company's acquisition...
Houston Chronicle (Free subscription) | 11/27/2009
Bank of America is having such a hard time finding a new CEO that some analysts are wondering if Kenneth Lewis might have to stay past his planned Dec. 31 departure.
DYSPEPSIA GENERATION (Free subscription) | 11/24/2009
Read it. The latest battle in the administration’s war against success is the shakedown on executive pay put forth by Obama’s pay czar, Kenneth Feinberg. The much anticipated move follows the bullying of the AIG producers, as well as the Chrysler and GM bondholders last spring. In the case of the upcoming pay cuts, salaries are [...]
San Fransisco Chronicle (Free subscription) | 11/24/2009
American International Group has approved a pay package for its new CEO Robert Benmosche of $7 million in cash and stock. Benmosche, who took over as CEO of the embattled insurer three months ago, will receive an annual salary of $3 million in cash and $4... American International Group - Business - Kenneth Feinberg - Promotion - Web Design and Development
The Street (Free subscription) | 11/24/2009
Federal officials have been urging pay czar Kenneth Feinberg to ease the compensation restrictions at AIG for 2010, a report says.
Denver Post (Free subscription) | 11/26/2009
... operating under government restrictions, among them having to get approval from federal pay czar Kenneth Feinberg for how much it can pay its new leader.Lewis' decision to retire, announced in September, capped a year of shareholder fury and regulatory scrutiny over the acquisition of Merrill Lynch & Co. Lewis was stripped of his chairman post in April.Shareholders who campaigned...
Reuters (Free subscription) | 11/25/2009
... executives' compensation was reworked to comply with regulations imposed by Washington pay czar Kenneth Feinberg, who has oversight of pay at firms which got the biggest U.S. bailouts.Under the deal with Greenberg, he will get back treasured possessions that remained behind at AIG when he departed, including a photograph of himself with company founder Cornelius Vander Starr and a...
News-Insurances (Free subscription) | 11/25/2009
... Asset Relief Program. Benmosche’s pay package had already been approved by Washington pay czar Kenneth Feinberg.Once the world’s largest insurer, AIG was saved last September by a taxpayer bailout that has grown to as much as $180 billion, including more than $80 billion in loans. The company is around 80 percent-owned by U.S. taxpayers.With Reuters
San Fransisco Chronicle (Free subscription) | 11/25/2009
... operating under government restrictions, among them having to get approval from federal pay czar Kenneth Feinberg for how much it can pay its new leader."The situation now is far more complex and far more challenging than it was a few months ago," said Anil Shivdasani, a finance professor at the University of North Carolina at Chapel Hill. "Given the extent of the involvement of the...
