GM said Monday that interim CEO Ed Whitacre will stay on permanently, and Whitacre laid out a plan to pay back federal bailout money. Both announcements were viewed as positive signs.
High executive pay and bonuses are unseemly after taxpayer bailouts, many Democrats charge. But GOP lawmakers worry about federal 'pay czar' meddling in the workings of capitalism.
The Treasury Department is ordering pay cuts for top executives at the seven big companies that have yet to pay back government bailout cash. The US public has balked as such firms have handed out huge bonuses.
The move makes for good politics, but is it good business?
Although CEO Ken Lewis agrees to a $0 pay package, don't expect a wholesale revolution in executive compensation on Wall Street.
The special inspector general for the government’s financial rescue program told Congress Wednesday that the ongoing bonus quandary was 'a mess.'
The administration's plan includes enabling shareholders to act as checks on top executives' compensation and appointing a pay czar for bailed-out firms.