Ford’s Pact with UAW Sets Stage
February 24, 2009 by Joseph McCafferty
General Motors Corp. and Chrysler LLC will intensify union talks this week after Ford Motor Co. reached a tentative deal to convert some of its retiree health obligations into equity.
February 24, 2009 by Joseph McCafferty
General Motors Corp. and Chrysler LLC will intensify union talks this week after Ford Motor Co. reached a tentative deal to convert some of its retiree health obligations into equity.
Banks and Bonuses: A European Perspective
February 23, 2009 by Alan Jenkins
Bankers’ pay and their bonuses are causing heated debate on both sides of the Atlantic. The President of the USA and the British Prime Minister have both spoken on the subject. In the US a cap on both for senior executives of up to $500,000 is proposed. In the UK. the Chancellor has set up a review to “examine how banks are managed. Bank boards have a duty to ask more searching questions of their executives - when times are good as well as when they turn bad”. This appeared in a column written by the Chancellor in the Sunday Telegraph of 8 February, under the head “Era of risk is over; what we now demand of banks is responsibility”.
February 23, 2009 by Alan Jenkins
Bankers’ pay and their bonuses are causing heated debate on both sides of the Atlantic. The President of the USA and the British Prime Minister have both spoken on the subject. In the US a cap on both for senior executives of up to $500,000 is proposed. In the UK. the Chancellor has set up a review to “examine how banks are managed. Bank boards have a duty to ask more searching questions of their executives - when times are good as well as when they turn bad”. This appeared in a column written by the Chancellor in the Sunday Telegraph of 8 February, under the head “Era of risk is over; what we now demand of banks is responsibility”.
Banks and Bonuses: A European Perspective
February 23, 2009 by Joseph McCafferty
Bankers’ pay and their bonuses are causing heated debate on both sides of the Atlantic. The President of the USA and the British Prime Minister have both spoken on the subject. In the US a cap on both for senior executives of up to $500,000 is proposed. In the UK. the Chancellor has set up a review to “examine how banks are managed. Bank boards have a duty to ask more searching questions of their executives - when times are good as well as when they turn bad”.
February 23, 2009 by Joseph McCafferty
Bankers’ pay and their bonuses are causing heated debate on both sides of the Atlantic. The President of the USA and the British Prime Minister have both spoken on the subject. In the US a cap on both for senior executives of up to $500,000 is proposed. In the UK. the Chancellor has set up a review to “examine how banks are managed. Bank boards have a duty to ask more searching questions of their executives - when times are good as well as when they turn bad”.
Waxman Proposes to Clawback Exec Pay
February 23, 2009 by Joseph McCafferty
A looming question is whether bank executives should give back salary and bonuses earned before their companies were bought in distress sales or being bailed out with loans from the federal loans.
February 23, 2009 by Joseph McCafferty
A looming question is whether bank executives should give back salary and bonuses earned before their companies were bought in distress sales or being bailed out with loans from the federal loans.
Senate Weighs New Rules
February 23, 2009 by Joseph McCafferty
Target-date retirement funds are coming under increased scrutiny as investors try to contain the damage to their 401(k)s from the worst economic downturn in generations.
February 23, 2009 by Joseph McCafferty
Target-date retirement funds are coming under increased scrutiny as investors try to contain the damage to their 401(k)s from the worst economic downturn in generations.
Senate Likely to Limit Bonus, Other Comp
February 20, 2009 by Joseph McCafferty
Stringent executive pay restraints in the new stimulus package President Barack Obama signed Tuesday are a foretaste of economy-wide restrictions likely to come out of a US Congress steamed up about the issue.
February 20, 2009 by Joseph McCafferty
Stringent executive pay restraints in the new stimulus package President Barack Obama signed Tuesday are a foretaste of economy-wide restrictions likely to come out of a US Congress steamed up about the issue.
SEC’s Walter Backs Say on Pay
February 19, 2009 by Joseph McCafferty
A top U.S. regulator yesterday backed the idea of giving public company shareholders a so-called say on pay on executive compensation, a concept gaining momentum among investors and lawmakers amid the financial crisis.
February 19, 2009 by Joseph McCafferty
A top U.S. regulator yesterday backed the idea of giving public company shareholders a so-called say on pay on executive compensation, a concept gaining momentum among investors and lawmakers amid the financial crisis.
Feds Raid Stanford Financial
February 18, 2009 by Joseph McCafferty
The SEC filed civil charges against Texas billionaire Robert Allen Stanford, his offshore bank, two of his Houston-based companies and two other officers, alleging that they have orchestrated a $8 billion investment fraud scheme on certificates of deposit.
February 18, 2009 by Joseph McCafferty
The SEC filed civil charges against Texas billionaire Robert Allen Stanford, his offshore bank, two of his Houston-based companies and two other officers, alleging that they have orchestrated a $8 billion investment fraud scheme on certificates of deposit.
Loopholes Sap Potency of Pay Limits
February 18, 2009 by Joseph McCafferty
President Barack Obama's crackdown on Wall Street pay contains loopholes, and may have limited impact in restraining compensation, according to some executive-pay consultants and management attorneys.
February 18, 2009 by Joseph McCafferty
President Barack Obama's crackdown on Wall Street pay contains loopholes, and may have limited impact in restraining compensation, according to some executive-pay consultants and management attorneys.
GM and Chrysler Seek $21.6 Billion More
February 18, 2009 by Joseph McCafferty
General Motors Corp. and Chrysler LLC told the federal government they may need up to $21.6 billion more combined in bailout loans to put them on the road to recovery, and outlined extensive bankruptcy contingency plans even while continuing to lobby against the option.
February 18, 2009 by Joseph McCafferty
General Motors Corp. and Chrysler LLC told the federal government they may need up to $21.6 billion more combined in bailout loans to put them on the road to recovery, and outlined extensive bankruptcy contingency plans even while continuing to lobby against the option.
SEC Rejects “No Action” Petition
February 18, 2009 by Joseph McCafferty
In a surprising reversal, the Securities and Exchange Commission has rejected a request for “no action” relief on a proposal calling for the reform of pay practices and a limit to senior executive compensation at companies receiving federal aid under the Capital Purchase Program of the Troubled Assets Relief Program (TARP).
February 18, 2009 by Joseph McCafferty
In a surprising reversal, the Securities and Exchange Commission has rejected a request for “no action” relief on a proposal calling for the reform of pay practices and a limit to senior executive compensation at companies receiving federal aid under the Capital Purchase Program of the Troubled Assets Relief Program (TARP).
Executive Pay Caps Cut from Stimulus Bill
February 13, 2009 by Joseph McCafferty
Congressional efforts to impose stringent restrictions on executive compensation appeared to be evaporating, as House and Senate negotiators worked to fine-tune the compromise stimulus bill.
February 13, 2009 by Joseph McCafferty
Congressional efforts to impose stringent restrictions on executive compensation appeared to be evaporating, as House and Senate negotiators worked to fine-tune the compromise stimulus bill.
Bank Stress Test May Expand Regulator’s Role
February 13, 2009 by Joseph McCafferty
Nearly 100 federal banking regulators descended on Citigroup in New York on Wednesday morning.
February 13, 2009 by Joseph McCafferty
Nearly 100 federal banking regulators descended on Citigroup in New York on Wednesday morning.
Senator Reed Plans Thorough Review of SEC
February 13, 2009 by Joseph McCafferty
The head of a U.S. Senate panel said yesterday he will hold a hearing to review the Securities and Exchange Commission from top to bottom and see where improvements can be made.
February 13, 2009 by Joseph McCafferty
The head of a U.S. Senate panel said yesterday he will hold a hearing to review the Securities and Exchange Commission from top to bottom and see where improvements can be made.
Caterpiller CEO Calls for Action
February 12, 2009 by Joseph McCafferty
The pleas from corporate boardrooms for action is increasing, as US lawmakers, faced with the worst recession and banking crisis in 70 years, get bogged down in debates and hearings on Capitol Hill rather than taking bold, unified action.
February 12, 2009 by Joseph McCafferty
The pleas from corporate boardrooms for action is increasing, as US lawmakers, faced with the worst recession and banking crisis in 70 years, get bogged down in debates and hearings on Capitol Hill rather than taking bold, unified action.
Congress Reaches Deal on Stimulus
February 12, 2009 by Joseph McCafferty
Congress and the White House reached a deal on a $789.5 billion stimulus bill after resolving last-minute dickering over education and school-construction funds.
February 12, 2009 by Joseph McCafferty
Congress and the White House reached a deal on a $789.5 billion stimulus bill after resolving last-minute dickering over education and school-construction funds.
Cuomo: Merrill Moved Up Bonus Pay Date
February 12, 2009 by Joseph McCafferty
New York Attorney General Andrew Cuomo asserts that Merrill Lynch moved up its bonus payments to secure them before reporting Q4 losses upwards of $15 billion.
February 12, 2009 by Joseph McCafferty
New York Attorney General Andrew Cuomo asserts that Merrill Lynch moved up its bonus payments to secure them before reporting Q4 losses upwards of $15 billion.
Banking CEOs Grilled by Frank’s Committee
February 12, 2009 by Joseph McCafferty
Citigroup Chief Executive Officer Vikram Pandit said he will take a salary of $1 and no bonus until the bank, which has accepted $45 billion in government bailout money, returns to profitability.
February 12, 2009 by Joseph McCafferty
Citigroup Chief Executive Officer Vikram Pandit said he will take a salary of $1 and no bonus until the bank, which has accepted $45 billion in government bailout money, returns to profitability.
SEC’s Schapiro to OK More Proxy Proposals
February 12, 2009 by Joseph McCafferty
More shareholder proposals are likely to appear on proxies this year, not so much because more will have been filed but because more will have been allowed.
February 12, 2009 by Joseph McCafferty
More shareholder proposals are likely to appear on proxies this year, not so much because more will have been filed but because more will have been allowed.
Treasury’s New Executive Pay Restrictions
February 11, 2009 by Directorship Editors
Outrage over Wall Street bonuses has prompted the Treasury Department to impose a new round of limitations on executive compensation programs at financial institutions taking government funds.
February 11, 2009 by Directorship Editors
Outrage over Wall Street bonuses has prompted the Treasury Department to impose a new round of limitations on executive compensation programs at financial institutions taking government funds.