Pay Czar Talks Pay Cuts for Top Executives

Tuesday, March 30, 2010

At companies deemed too big to fail, there's a delicate balance to be found between paying enough to retain talented staff and soothing public anger about big taxpayer bailouts. "Pay Czar" Kenneth Feinberg (he dislikes the term, but it's stuck) believes he’s getting the balance right.

Feinberg is the Treasury Department’s special master for executive compensation. In his role, Feinberg negotiates the pay for executives at the companies that have received “extraordinary assistance” from the Treasury’s Troubled Asset Relief Program. He recently announced pay cuts for the top executives at five companies that have received substantial federal government assistance: AIG, Chrysler, Chrysler Financial, GM and GMAC. He talks to The Takeaway about his efforts to curb excessive pay.



Kenneth Feinberg

Produced by:

Marine Olivesi and Elizabeth Ross

Comments [1]

Edwin Hemsley from Brooklyn

The program this morning March 30.
There was a reference to Im picking musrooms, do not disturb. What was the connection and what does the phrase mean, I tred to look it up but the results I got was its OK to disturb mushrooms. Seem like they do better. Please explain.
PS I love your show but hate the title "The Take Away".

Mar. 30 2010 02:19 PM

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