compensation

Why Are These CEOs So Overpaid?

The staggering growth of CEO pay might have something to do with executives' control over their own compensation. These are the chairmen/CEOs enjoying the biggest paydays.

Watchdog: Pay Remains 'Excessive' at Bailed-Out Companies

The government's top bailout watchdog accused the Treasury Department on Monday of failing to rein in "excessive" compensation at AIG, General Motors and Ally Financial. Christy Romero, Special Inspector General for the Troubled Asset Relief Program, or SIGTARP, says that the firms don't understand "their extraordinary situations."

Payments for Bad Foreclosures Are No Undeserved Windfall

Since the housing crash, millions of Americans have lost their homes, many of them victims of improper foreclosures. Now, those unfairly evicted homeowners can get cash payments in compensation. But don't be concerned that they're getting more than they deserve.

Should You Be Allowed to Sell Your Organs?

Buying organs is illegal in every country except Iran, but more U.S. doctors are warming up to the idea of compensating donors. Would a carefully regulated market save lives, or put medicine on a slippery slope?

Lean Bonus Season Ahead for Wall Street Bankers

With unemployment still high, late mortgage payments rising, and the number of Americans in poverty at record levels, it seems that Main Street is headed for a hard, cold holiday season. But, somewhat surprisingly, so too are the fat cats of Wall Street -- relatively speaking.

Employers Win Workers
With Perks, Not Raises

To retain top employees and attract new ones, U.S. companies are increasingly turning to perks such as subsidized training and flexible work conditions rather than raises. These incentives are finding a welcome among employees, too, especially educational benefits.

State Worker Retirements Are Soaring Across the Country

As wages and benefits shrink, state workers are retiring in droves. On top of all the layoffs, these retirements amount to a huge brain drain of government employees, and the problem is likely to get worse given the yawning budget gaps of states from coast to coast.

Recession Lingers On in Silicon Valley

Much has been made recently of the huge valuations of Internet players like Facebook, Twitter and Zynga, but while Web 2.0 is doing well, the Silicon Valley region itself is not. A new report shows compensation and unemployment in the region haven't improved since the downturn.

FDIC Proposes Limits on Banker Pay

The federal government says excessive pay at financial institutions was one of the main causes of the recent economic crisis. It now wants to make sure bank executives and traders take less risk, by insisting they defer a large part of their compensation.

The Hidden Cost of Big Wall Street Bonuses to Society

Though most Americans wish that Congress would rein in excessive pay on Wall Street, that won't happen while the huge campaign contributions keep flowing. And the financial industry's big money shell game drains away something more precious from our society than money -- it siphons off talent.

Wall Street Compensation to Hit New High

Pay on Wall Street is on pace to break a record high for a second consecutive year, growing 4% in 2010 at nearly three dozen of the top financial institutions.

$4 Million Signing Bonus for New HP CEO Leo Apotheker

HP shares dropped more than 3% in premarket trading Friday, a day after the company named Leo Apotheker to replace Mark Hurd as CEO. And if investors aren't impressed with the choice of the former CEO of software giant SAP to lead HP, they're really not going to like his compensation package.

New Citigroup Hire Lands $30 Million Pay Deal

Citigroup%u2019s (C) newest energy banker Stephen Trauber could take home as much as $30 million over three years as part of his juicy new pay package with the bank. Trauber, whom Citigroup poached from Swiss bank UBS (UBS), landed himself the deal just months after pay czar Kenneth Feinberg ended his oversight of Citigroup%u2019s pay practices, The Wall Street Journal said. The U.S. taxpayer still owned 17.5% of Citigroup as of July.

Citigroup to Pay Executives $33 Million in Stock

Citigroup Inc. (C) will pay five of its top executives almost $33 million in stock compensation this year and plans to increase its CEO's salary above his $1 a year figure in 2011, marking the financial institution's effort to reward executives for turning a profit so far this year after two years of losses.

Judge Keeps Heat on KBR, Halliburton Over Toxic Burn Pits

Halliburton and Kellogg, Brown and Root violated their contracts to safely dispose of waste in combat zones, and the toxins their burn pits released allegedly caused serious illnesses in U.S. soldiers. But will extenuating circumstances allow the military contractors to avoid punishment?

CEOs Who Laid Off More Got Paid 42% More Money

CEOs who cut the most jobs during the recession earned an average of 42% more than their S&P 500 peers, according to a study by the Institute for Policy Studies. Top execs at the 50 firms that laid off the most workers since the economic crisis began averaged nearly $12 million in 2009.

Lawyers: New CEO Pay Disclosure Rule a 'Logistical Nightmare'

A new rule forcing U.S. companies to disclose the ratio between their chief executive%u2019s pay and that of the typical employee is a "logistical nightmare%u201D", lawyers say. "It%u2019s just not do-able for a large company with tens of thousands of employees worldwide," Richard Susko, a partner at Cleary Gottlieb told The Financial Times.

A Tough First Day for Oil Spill Claims Czar Feinberg

Kenneth Feinberg, who was jointly selected to be the new oil spill claims czar by the White House and BP, spent his first official day on the job Monday taking heat over the guidelines he has established for claims against the fund BP set up for victims of the Gulf of Mexico disaster.

BP Compensation Fund May Shield Company from Litigation

Individuals and businesses seeking a lump-sum settlement from the $20 billion fund created by BP (BP) to compensate victims of the Gulf oil spill will likely have to waive their right to sue BP, as well as other major defendants involved in the disaster, The New York Times reported, citing internal documents from lawyers handling the fund. Those seeking compensation will be faced with a tough choice, The New York Times said. Either they can pass on a settlement and face years of litigation, or they can agree to accept a settlement, which could come before the full extent of the damage from the spill is known.

Top Goldman Execs Make Millions on Stock Sales

Goldman Sachs disclosed to the SEC the exercise of stock options and sales of shares that totaled tens of millions of dollars. CEO Lloyd Blankfein and President Gary Cohn who gained millions from the sale.