WASHINGTON -- The U.S. pay czar, now preparing to vet the compensation at businesses receiving major federal aid, will push to renegotiate contracts that he views as excessive or seek other ways to reduce overall outlays, said people familiar with the matter.
The role of the government in setting pay is reaching a pivotal moment. Seven banks and industrial companies that received significant bailouts must submit proposals for their compensation packages by Aug. 13.: Citigroup Inc., Bank of America Corp., American International Group Inc., General Motors Co., Chrysler Corp., Chrysler Financial and GMAC Financial Services Inc.
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2 comments:
He who pays the piper names the tune...
What else would you expect?
From this administration? The Facist Elites who think they should be in charge of every facet of American life? This is to be expected. The American public is starting to wake up now though. Watch those poll numbers plummet!
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