Treasury Slashes Executive Pay For Automakers That Accepted Bailout Money

Treasury Slashes Executive Pay For Automakers That Accepted Bailout Money
The Treasury Department's pay czar cut cash compensation for the top 25 executives at five firms, including four Michigan-based auto industry companies, by one-third for 2010.

Overall compensation for the executives is down 15 percent over 2009 levels.

Kenneth Feinberg announced the compensation packages for the top 25 executives at General Motors Co., Chrysler Group LLC, Chrysler Financial LLC, GMAC Inc. and AIG Inc. Feinberg oversees executive compensation at five firms that received extraordinary assistance under the $700 billion Troubled Asset Relief Program.


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bfghemicudabfghemicuda - 3/23/2010 8:58:55 PM
0 Boost
Feinburgs compensation should be cut. Just get rid of him and everyother czar all together.


freeagentfreeagent - 3/24/2010 9:23:56 AM
-3 Boost
all of us might as well get used to it. before they're done the obama socialists will try to control everyone's salary through taxes and regulations anyway.


thstonethstone - 3/24/2010 5:02:37 PM
+3 Boost
Until the Corporate Boards of Directors of the car companies start doing their jobs and holding crappy management accountable, then I am in full support of the government stepping in and doing it for them for any company that has received any type of government bailout.

And yes, bank CEO's, this means you too. Airline CEO's, please take note of this policy before you come running to the trough next.


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