France will limit or ban bonuses and stock options for executives at companies bailed out with taxpayer money, an official announced Thursday, as the government scrambled to calm public outrage at what some see as the greed that caused the global financial crisis.
A growing number of companies are freezing salaries, reducing bonus pools and making other major changes to their executive pay programs, a consulting firm reported Tuesday.
Facing a stricter approach to limiting executive bonuses than it had favored, the Obama administration wants to revise that part of the stimulus package even after it becomes law, White House officials said Sunday.
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 Barack Obama on Wednesday will probably apply only to a few executives — not star traders, brokers and salespeople who routinely earn whopping pay packages.
Assailing out-of-touch corporate pay and perks, President Barack Obama on Wednesday slammed a salary cap on top executives from companies that want bailouts — but it's a limit that could end up thinning the wallets of only a small number of people.
Former U.S. Treasury Secretary Lawrence Summers on Tuesday said government restrictions on executive pay don't make sense except in instances when the government is propping up a company that would otherwise fail.
The board of Verizon Communications Inc. on Thursday decided to give shareholders an annual advisory vote on executive pay, becoming one of the first major companies to do so.
A House panel on Wednesday approved legislation written by majority Democrats to give shareholders at public companies a formal say in executives' compensation packages.
Will Robert Nardelli and Henry A. McKinnell do for executive pay what Enron Corp. did for corporate governance? Just as Enron Corp.'s meltdown led to tougher corporate governance regulations, the eye-popping packages those executives received when they exited CEO jobs at Home Depot and Pfizer have caused everyone from President Bush to professional compensation consultants to suggest runaway pay needs to be reined in.
General Motors Corp., which says a return to profitability will require sacrifices from all involved, announced plans on Tuesday to rein in white-collar pension and health care expenses, slash the dividend and trim executive salaries — moves some analysts say suggest it might seek benefit cuts from union workers.
Summary: Fox & Friends' Gretchen Carlson falsely claimed that the Obama administration advocates regulating "executive pay at any financial institution." In fact, restrictions on employee compensation would be placed only on "financial institutions that are receiving government a …
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.
As ThinkProgress first reported, CNBC's Mark Haines offered a spirited defense of the wealthy last week, saying that Wall Street companies shouldn't be managed by anyone making under $250,000 per year.
Good LORD... talking about a power grab. The government will now be setting salaries!!!!
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.
Citigroup has pledged millions of dollars in bonuses to senior executives for the next few years, despite lawmakers efforts to eliminate such payments.
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"Republicans are taking every opportunity to put the blame in the AIG bonus controversy on Democrats and the White House, but many have had a different position on regulating executive pay...."
Should we have a national standard to limit excessive pay and bonuses for CEO's and executives?
They're paying far less of their incomes in taxes than average Americans.
Do the top executives at the MSPCA make too much money?
Those poor, unappreciated Wall Street execs keep whining about the prospect of pay caps. Someone pass a hankie. Editor's Note: It looks like the language to cap exec pay may end up being cut from the stimulus bill by Congress.
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.
"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.
Vermont Senator Bernie Sanders has the whole executive accountability issue exactly right.
Unfortunately, there are too many American Express Financial Adviser rip-off stories, including a murder of an elderly Arizona client.
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.
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.
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 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.
Firms being bailed out with Federal money may be required to adhere to caps on executive pay.
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.
How different, really, is Mr. Madoff's tale from the story of the investment industry as a whole?
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.
The global financial crisis deepens, with more than 10 million in the U.S. out of work, according to the Department of Labor.