Feinberg Claws Back

    In yet another stunning economic folly, the Obama Administration has chosen to “claw back” the salaries of the top 25 executives at seven firms that received TARP funds last fall. In addition, the Treasury Department’s Kenneth Feinberg announced he would force American Insurance Group to restructure and reduce the $198 million contractual compensation packages at its financial products division. In contrast to previous years, an | Read More »

    Collapsing NYT Awards Huge Bonuses to CEO, Owner

    The New York Times is squeezing its hard-pressed, low-and-middle income union workers for wage concessions it needs to keep the Boston Globe from shutting down. Its stock price is collapsing like a house of cards, and it’s hemorrhaging cash. And the papers’ editors have crusaded against excessive compensation – especially for firms faring poorly. But apparently none of that is enough to prevent the paper | Read More »