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President Obama to Bank Execs: You Guys Are Like Overpaid Pitchers -- and You Didn't Win the World Series
12 hours ago ago from Political Punch
A White House official tells ABC News that on the subject of executive compensation, President Obama told bank executives today, “you guys are like overpaid pitchers on a team doing poorly. The concern is less when your team is successful – but you guys didn’t win the World Series this year.” Executives said they knew this was a “problem,” and were working on ways to address that issue, such as enacting “say on pay” rules which would ...
Related contentGM and GMACs second-highest tier of executives limited to salaries of $500,000
19 hours ago ago from Car news, Car reviews, Spy shots and Videos - 4wheelsnews.com
According to Treasury Department guidelines announced last week, General Motors Co. and GMAC's second-highest tier of executives are limited to salaries of $500,000 and are prohibited from receiving bonuses unrelated to performance. Kenneth Feinberg, Treasury's special master for executive compensation, set these limits in order to let executives focus on long-term gains and financial stability rather than short-term growth. Previously, ...
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