Under Armour CEO voluntarily cuts his salary
Source: The Baltimore Sun
Under Armour Chief Executive Officer Kevin Plank took home a base salary of just $26,000 last year after the Baltimore-based sports apparel company he founded did not meet revenue goals.
Administration Seeks Increase in Oversight of Executive Pay
Source: The New York Times
WASHINGTON — The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said.
Should we have a national standard to limit excessive pay and bonuses for CEO's and executives?
Trying to Live on 500K in New York City - NYTimes.com
Source: The New York Times
PRIVATE school: $32,000 a year per student. Mortgage: $96,000 a year. Co-op maintenance fee: $96,000 a year. Nanny: $45,000 a year. We are already at $269,000, and we haven't even gotten to taxes yet.
You Try to Live on 500K in This Town
Source: The New York Times
"Five hundred thousand dollars — the amount President Obama wants to set as the top pay for banking executives whose firms accept government bailout money — seems like a lot, and it is a lot. To many people in many places, it is a princely sum to live on.
In 2000, when I had just become the single mother of two young children, and having just seen more than half the household income depart, I swallowed my pride and visited the local welfare office.
Obama is wrong to cap executive pay
Source: Telegraph
Barack Obama's move to cap executive salaries at $500,000 in companies receiving substantial government assistance will not work. It is a populist announcement that is terrible policymaking.
U.S. Plans $500,000 Cap on Executive Pay in Bailouts
Source: The New York Times
The Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan.
The arrogance and self indulgence of the Wall Street elite is dumbfounding. The Captains of Industry have been steering the banks with all the deft of the Exxon Valdez and it hasn't affected their high view of themselves one whit.
Bush Gives Emergency Loans to Automakers
Source: The New York Times
President Bush announced $13.4 billion in emergency loans on Friday to prevent the collapse of General Motors and Chrysler, and said another $4 billion would be available for the hobbled automakers in February.
Workers Laid Off, Execs Paid Off
Source: Common Dreams
The global financial crisis deepens, with more than 10 million in the U.S. out of work, according to the Department of Labor.