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The Obama administration’s pay czar is limiting 2010 compensation for top executives at GMAC because the auto finance giant continues to lose money and can’t yet repay its $16.3 billion taxpayer bailout, according to people familiar with the negotiations, reports the Associated Press.
Feinberg limits exec pay at struggling GMAC
The Obama administration’s pay czar is limiting 2010 compensation for top executives at GMAC because the auto finance giant continues to lose money and can’t yet repay its $16.3 billion taxpayer bailout, according to people familiar with the negotiations, reports the Associated Press.
March 17, 2010