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College Chiefs Get Paid the Big Bucks
By Dana Chivvis - AOL NewsThanks to a survey by the Chronicle of Higher Education, presidents of American universities and colleges are joining the long list of Wall Street executives facing a simple question: Are they worth their six- and seven-digit salaries? The median compensation for presidents increased 15.5% from the previous year to $358,746 in 2007-2008, with 23 presidents making more than $1 million a year, according to the Chronicle's survey of 419 private colleges and universities. At the top of the list was Shirley Ann Jackson, president of Rensselaer Polytechnic Institute, whose compensation in 2008 was ...
White House to Cut Executive Pay at Bailed-Out Firms
By Christopher Weber - Politics DailyTwo weeks ago David Sessions reported on the Obama administration's plan to limit salaries for corporate banking executives whose firms accepted bailout funds. Details of the plan emerged Wednesday. As many as 25 executives at seven corporations that received the largest chunks of federal money will see their compensation cut by about half on average, according to the Washington Post. Cash salaries will be cut by about 90 percent compared to last year. The administration's "pay czar," Kenneth R. Feinberg, will also slash some executive perks, including the use of corporate jets, chauffeurs, ...
Obama Pay Czar Plans to Limit Executives' Cash Compensation
By David Sessions - Politics DailyPresident Obama limited salaries for corporate banking executives whose firms accepted bailout funds earlier this year. Now, his pay czar, Ken Feinberg, plans to crack down on cash salaries for a wide variety of executives at companies receiving large sums of government money, the Wall Street Journal reported Tuesday. In what the Journal called the administration's "most intrusive [move] yet into corporate compensation," Feinberg will limit pay at seven firms he oversees: Bank of America, AIG, Citigroup, General Motors, GMAC Financial Services, Chrysler LLC and Chrysler Financial. Feinberg's ...
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