Sign in to follow this  
Followers 0
Ladywriter

Average compensation expected to be cut in half for top executives

1 post in this topic

Obama: Excessive pay ‘does offend our values’

WASHINGTON - The Treasury Department on Thursday ordered seven companies that received billions of dollars in government bailouts to halve total compensation for their top executives. But the big reductions will not apply to pay earned before November. Kenneth Feinberg, the Treasury official leading the pay review, told reporters that average salaries for the top 25 executives are being cut 90 percent starting next month.

The action will apply to the top executives at Bank of America Corp., American International Group Inc., Citigroup Inc., General Motors, GMAC, Chrysler and Chrysler Financial.

:glasses:


                                               gallery_3_22_21209.jpg

                                               Look at the flowers

Share this post


Link to post
Share on other sites


Sign in to follow this  
Followers 0