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Got Stimulus? Take a Pay Cut!

posted October 6, 2009 - 5:30am
Got Stimulus? Take a Pay Cut!

Seven companies that received stimulus money are now being targeted by the Obama's administration's pay czar.  Executives at the firms benefiting from this years economic handouts will be getting a cut in pay.  The plan by pay czar Kenneth Feinberg shifts as much as 50 percent of an executive's salary into stock that cannot be touched for several years.  The new pay plan is only directed at firms that received large amounts of federal aid.  The companies affected are Chrysler LLC, Chrysler Financial, GMAC, Bank of America, Citigroup, and American International Group.


Article: http://www.reuters.com/article/politicsNews/idUSTR...


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