Further Limits on Executive Pay in 2010 Says Kenneth Feinberg

Kenneth Feinberg, at large referred to as the supervision "Pay Czar," voiced on Tuesday that the tip twenty-five earners at five companies that are still reception a large volume of assist from the supervision bailout package will be forced to dig a small bit deeper in to their pockets in 2010.These management team will be paid an normal of fifteen percent less in 2010 than in 2009. Cash salaries would be capped at $500,000 for the immeasurable infancy of tip twenty-five executives. Executives would have to embrace serve remuneration in the form of stock, thereby joining remuneration to performance.emailprintreprintnewslettercommentssharedel.icio.usDigg It!yahooFacebookTwitterRedditrssforbes:http://www.forbes.com/2010/03/23/further-limits-on-executive-pay-in-2010-says-kenneth-feinberg-marketnewsvideo.html?partner=yahoobuzzFeinbergs ultimate proclamation follows a precedant he set in October, when remuneration discipline were released for the tip 7 companies reception supervision aid, that at that time enclosed Citigroup ( C - news - people ) and Bank of America ( BAC - news - people ). The five companies lonesome right away are General Motors, GMAC ( GJM - news - people ), Chrysler, Chrysler Financial, and AIG ( AIG - news - people ).Feinbergs bureau will additionally be promulgation "look back" letters to 419 companies, together with Goldman Sachs ( GS - news - people ) and JP Morgan, giving them thirty days to item remuneration for management team that have some-more than $500,000 prior to Feb 17, 2009. Executives at these firms could potentially have to compensate behind remuneration deemed "inconsistent with the open interest" by Feinbergys office.Market News Video produces and distributes online videos about bonds and investing.
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