Beverly Hills 11/13/2009 1:08:36 AM
News / Business

Obama Pay Czar Worried New Pay Rules Will Scare Away Talent

Finance World News Update by EQUITIES Magazine

Today, the Obama administration’s pay czar Kenneth Feinberg said that he is “very concerned” about the loss of talent from seven firms that took the biggest bailouts. His statement comes the day after issues with American International Group Inc, CEO Robert Benmosche arose as a direct result from the administration’s pay rules.

 

"The determinations I render I design first and foremost to make sure those companies thrive and that the taxpayers get their money back," said Feinberg.

 

Feinberg oversees pay at AIG, Bank of America Corp., Citigroup Inc., General Motors, GMAC, Chrysler and Chrysler Financial.

 

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Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

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