Pay Czar Cuts Exec Pay 15% At AIG, GM And Others

Pay Czar Cuts Exec Pay 15% At AIG, GM And Others

Kenneth Feinberg, better known as the Obama administration’s pay czar, announced yesterday that he’d cut salaries on top executives at 5 companies that are still using bailout cash. [More]

Government Orders Pay Cuts For Bailed-Out Firms

Government Orders Pay Cuts For Bailed-Out Firms

The huge salaries and bonuses paid to executives of banks and other firms that received government bailout funds have been the subject of a lot of taxpayer rage. The Obama administration listened, and will order pay cuts.

Salary Czar To Ex-BoA CEO: No Pay For You!

Salary Czar To Ex-BoA CEO: No Pay For You!

Departing Bank of America CEO Ken Lewis will get no 2009 pay or bonus. But won’t this serve as a disincentive to future executives who are thinking about totally cocking up their company and bringing down the US economy? [WSJ] (Thanks to Snarkysnake!)

Bank Of America Posts $1 Billion Loss In Third Quarter

Bank Of America Posts $1 Billion Loss In Third Quarter

Do you hate Bank of America? Well take today’s earnings report and wallow around in it like Ann-Margret in beans, becuse the bank has posted a loss of $1 billion before dividends to preferred shareholders—”When those dividend payments are included, the loss was $2.24 billion,” reports the New York Times.