Pay czar issues salary caps for execs!!!

[Peacetrain]

http://money.cnn.com/2009/12/11/news/companies/feinberg_compensation/index.htm


Kenneth Feinberg limits pay for hundreds of employees at AIG, General Motors, Citigroup and GMAC at $500,000.



NEW YORK (CNNMoney.com) -- New pay restrictions were unveiled Friday for hundreds of top employees at the nation's biggest bailout recipients.

The ruling, imposed by White House "pay czar" Kenneth Feinberg, will impact 75 out of the 100 highest-paid employees at four companies - Citigroup (C, Fortune 500), AIG (AIG, Fortune 500), automaker General Motors as well as GMAC.

[Cha]

1. Yay, czars...boo to those

who whined about them.

[Peacetrain]

4. And we are not the ones who call them Czars??...

:rofl: that is a republican thingy that they then try an stick on us to deflect the message

But it is great isn't it !!..

[sui generis]

7. again with the whining word

we are no better than what we decry.

sad.

[Peacetrain]

9. Jezzus kid... Cha is talking about FOX and friends who went nuts on Czars

and we never called them any such thing.. it was a made up controversy.. get a grip

[sui generis]

11. guess I missed that hour of programmed television

sorry.

Still hate the word. We shouldn't adopt it or use it, but our great and noble High Czar doesn't have a problem with it.

Anyway thought the main OP was about salary caps, not czars. Just voicing my personal pet peeve and my ignorance of up the pico-second network and broadcast news cycle.

[Peacetrain]

12. I hear you .. I hate the word too.. well if you missed it, it might have been a month

ago or so.. It was Fox, Hannity, Limbaugh, the usual suspects and they just fell over themselves for a couple of weeks about all the czars.. well the only people that called them czars that much was the republicans..and they started the whole thing years and years ago.. I am thinking Reagan.. ..but anyhoo.. it was funny to watch them screw themselves into the ground, and here come the tea baggers with signs about Russia.. like clockwork..

[Cha]

13. Yeah, I wouldn't use that the w word

if there hadn't been so much whining about the czars.

And, whining is sad.

[sui generis]

14. sorry - guess I got in out of context

lotta people using that word here for real though in other threads - and they never use the word in a constructive way, oddly. :P

[Botany]

2. That is great!

BTW I think Citi is sponspering the nation college football championship game in January.

This is after getting bailed out.

[ZombieHorde]

3. Interesting. nt

[sui generis]

5. can we issue a hiring freeze for czars please

what the fuck are we, medieval russia?

I'm editing to add, we are so mixed message, proletariat cheering on the czars STUPID I wonder if we're still in America some days.

Salary caps on TARP execs, fine, no problem with that, so long as they really are the C-Level and board, and not middle managers getting thrown to the "czars".

[Peacetrain]

8. That is right wing spin.. and the media picked up on it.. personally I like

"coach" better

[Soylent Brice]

6. K&R for good news.

[KansDem]

10. I wonder how much this will save us/US?

No mention in the article...