Glassner Says Feinberg-Ordered Pay Cuts Lack Legal Teeth: Video
March 23 (Bloomberg) — Frank Glassner, chief executive officer of Veritas Executive Compensation Consultants LLC, talks with Bloomberg’s Mark Crumpton and Julie Hyman about Kenneth Feinberg’s 2010 compensation ruling for executives at five companies bailed out by the federal government.
Cash payments to executives at American International Group Inc., General Motors Co., GMAC Inc., Chrysler Group LLC and Chrysler Financial Corp. will be cut by 33 percent from last year. Total compensation for 2010, including cash, will fall by about 15 percent from last year, Feinberg said at press briefing in Washington today. (Source: Bloomberg)
Duration : 0:6:17