Daily Bar News

Todays Date: Click here to add this website to your favorites
  rss
Bar News Search >>>
law firm web design
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
D.C.
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Mass.
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
N.Carolina
N.Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
S.Carolina
S.Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
W.Virginia
Wisconsin
Wyoming
Pay czar: Talks with 7 companies are consensual

•  National News     updated  2009/10/02 15:56


The Obama administration's pay czar said Wednesday his negotiations over executive compensation with the seven companies that received the biggest helpings from the federal bailout pot have been "a consensual process" and not a matter of forcing decisions on them.

"I'm hoping I won't be required to simply make a determination over company objections," veteran Washington attorney Kenneth Feinberg told the Chicago Bar Association in a speech delivered over a television link.

Feinberg said he hopes when he announces pay levels for 175 top executives by Oct. 30 the seven companies will consider them fair and based on principle.

"It's been a very consensual process and I hope it will continue to be consensual," Feinberg told the attorneys.

Feinberg, who is technically a special master at the Treasury Department, said he doesn't even agree with the informal title of pay czar, emphasizing that he is working with the companies and not dictating to them.

He said the pay levels need to allow the companies to be competitive, be performance based and keep executives in their jobs for the long haul.


ⓒ Daily Bar News - All Rights Reserved.

The content contained on the web site has been prepared by Daily Bar News
as a service to the internet community and is not intended to constitute legal advice or
a substitute for consultation with a licensed legal professional in a particular case or circumstance.

Law Firm Website Design by Lawyer Website Design That Works