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Kenneth Feinberg Tries Desperately to Stay Relevant

If you were to calculate a headlines/efficacy ratio for government and corporate leaders, executive pay czar Kenneth Feinberg would have to rank pretty high on the "most press for least accomplished" list.

Now that Bank of America (BAC) and Citigroup (C) are out from the somewhat watchful eye of Mr. Feinberg, he has only American International Group (AIG), the car companies, and GMAC to meddle with at little benefit to anyone.

So what does he do to keep himself occupied? He chats on the phone with Goldman Sachs (GS) CEO Lloyd Blankfein about how that company can better align pay for its executives, even though he has no authority over -- or interest in -- that company's policies.

Continue reading Kenneth Feinberg Tries Desperately to Stay Relevant

Obama picks a Washington lawyer to set executive pay standards

President Obama and Treasury Secretary Tim Geithner have selected Washington lawyer Kenneth R. Feinberg to serve as the executive pay czar. Feinberg will be charged with setting pay standards for top executives at the seven companies that received the most bailout money.

The New York Times reports
that "For 80 other financial institutions that have received federal assistance, Mr. Feinberg will develop the overall compensation structure, but without setting the exact level of pay. For these 80 companies, the goal is to reduce excessive risk-taking by executives whose compensation is tied to company performance. Mr. Feinberg will also determine whether it would be in the public interest to force any executives at companies receiving assistance who might have been overpaid to return some pay."

Continue reading Obama picks a Washington lawyer to set executive pay standards

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Last updated: May 27, 2012: 03:43 AM

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