Jessica Yellin and Bob Lenzner discuss the huge JPMorgan Chase loss, new investigations, and the company's CEO.
The chief of the struggling U.S. Postal Service received $384,229 in compensation last year -- and at least one lawmaker thinks he should take a paycut.
What's the cost of a $4 billion gamble gone wrong?
Royal Bank of Scotland has sought to defuse mounting political and public pressure in awarding chief executive Stephen Hester a bonus of just under £1m, less than half the amount he received for 2010.
When Congress bailed out big banks, it also limited the pay of CEOs at those banks -- one of the main reasons why banks wanted out of the bailout program.
White collar workers at Ford Motor will get a pay increase and a bonus, the first time in four years that they'll receive both, the company said Thursday.
The next CEOs at Fannie Mae and Freddie Mac are unlikely to receive the controversial, multi-million dollar pay packages given to their predecessors, the companies' regulator said Tuesday.
The class of 2011 scored higher-paying jobs than graduates the year before, with engineering and computer science majors taking home the fattest paychecks.
Yahoo's new CEO is poised to score a rich payday for taking on the troubled company. He's eligible for up to $26 million this year in salary, stock and bonuses.
The federal worker pay freeze might be over.
Some private colleges are paying their top executives millions of dollars, at the same time they're hiking tuition prices for students.
CNNMoney: CEO pay jumps 36.5%updated: Thu Dec 15 2011 13:49:00
Who says American salaries are stagnating.
Executives at Fannie Mae and Freddie Mac need big pay packages to protect taxpayers from losing more of the billions spent to rescue the mortgage finance companies, according to the head of the agency that sets pay at the beleaguered firms.
Mortgage finance giants Fannie Mae and Freddie Mac received the biggest federal bailout of the financial crisis. And nearly $100 million of those tax dollars went to lucrative pay packages for top executives, filings show.
Lawmakers are trying to block million-dollar bonuses to top executives at Fannie Mae and Freddie Mac, the mortgage-backing firms that required a giant taxpayer bailout.
Members of the House of Representatives reported up to $6.1 million in staff bonuses between January and March, giving out bonuses as they debated spending cuts and came within minutes of shutting down government over fiscal problems, a CNN investigation has found.
CNN's Lisa DesJardins reports that as Congress argues over budget cuts, some staffers are getting bonus pay.
General Electric recently made it harder for CEO Jeffrey Immelt to cash in the stock options he received as part of last year's pay package.
Wall Street workers may be feeling a little leaner since cash bonuses fell nearly 8% last year, according to New York State Comptroller Thomas DiNapoli.
College grads are getting offered bigger paychecks for the first time since 2008.
There will be lots more state workers joining the unemployment line this year.
Even as pundits sharply debate China's economic future, most agree that much of it is riding on the stability of its working population. And depending on who you talk to, the Chinese labor market is either Beijing's biggest asset or its ultimate albatross.
A lot of people talk about Federal Express as an economic bellwether. And even though FedEx reported a lower than expected profit Thursday, we should all hope that more companies follow the shipping giant's lead.
Compensation for chief executives held steady last year, but 2009 was not a good year for perks, according to a survey released Tuesday.
An ongoing musicians strike prompted the Detroit Symphony Orchestra on Wednesday to cancel this weekend's season-opening concerts, which were to feature guest violinist Sarah Chang.
Members of the Detroit Symphony Orchestra have gone on strike over a substantial pay cut, raising doubts about several scheduled performances, including this Friday's season opener.
California's attorney general Wednesday sued eight former and current municipal officials in a small Los Angeles suburb, where ultra-high salaries sparked local outrage and national attention.
Daniel Akerson, the new chief executive of General Motors, has scored a $9 million compensation package, including $1.7 million in cash annually and $5.3 million in company stock over the next three years.
In a rare bit of good news for college students facing a tough labor market, the sharp decline in starting salaries for recent graduates appears to be stabilizing, according to a study released Thursday.
Dear Annie: I applied for an opening as a senior marketing manager at a Fortune 500 company two months ago and have since been back for three rounds of interviews. The meetings have gone really well, but they haven't made an offer yet.
BP has pledged to learn from the oil spill in the Gulf of Mexico and to come away from the disaster with a renewed focus on safety.
If embattled BP chief executive Tony Hayward leaves the company, he is not likely to walk with a massive windfall, compensation experts said.
Even during the darkest days of the financial crisis, nearly twenty financial firms managed to shell out an estimated $1.6 billion in "ill-advised" payments to their executives, according to a federal report issued Friday.
White House pay czar Kenneth Feinberg is expected to issue a report on Friday that will lay bare what Wall Street executives were paid during the height of the financial crisis.
Attending school in California and becoming an engineering major can really pay off for college graduates -- by thousands of dollars a year.
When you want to understand whether the CEO runs the board or the board oversees the CEO, a good place to start is to look at the work of the Compensation committee. Compensation committees so impact how companies are run that NYSE and NASDAQ listing standards require that Compensation Committees be comprised only of independent board members.
The little-known practice of issuing so-called "phantom stock" might be the next big thing when it comes to employee pay.
A year ago, California dealt with its budget crisis by handing out hundreds of thousands of IOUs to contractors and taxpayers. This year, it's threatening to cut state workers' wages to the bone.
Graduates in the class of 2010 are making a little less money at new jobs than those who finished school last year, with the weak economy the prime culprit, according to a report released Thursday.
As public outrage over Wall Street bonuses fades a bit in the United States, the European Parliament on Wednesday approved tough new rules that limit bankers' bonuses and align compensation with long-term financial performance.
At their annual meeting last week, WellPoint shareholders just voted in "say on pay," over the company's objections, after losing similar votes in the prior two years. At Sprint Nextel, both the company and shareholders favored say on pay this year. At Qwest, shareholders sided with management and voted it down.
Britain's new Cabinet held its first meeting Thursday and promptly agreed to a five-percent pay cut for all new ministers, Downing Street said.
White House pay czar Kenneth Feinberg, who has clamped down on executive compensation at the nation's biggest bailout firms, now has a new target: any firm that accepted a government lifeline.
Despite the growing shortage of family doctors in the United States, medical centers last year offered higher salaries and incentives to specialist nurses than to primary care doctors, according to an annual survey of physicians' salaries.
Maybe you missed your earnings target last year or your stock was crushed. But if you're a corporate executive, that might not necessarily prohibit you from earning a generous bonus.
New York State Comptroller Thomas DiNapoli said Tuesday that Wall Street bonuses jumped 17% last year, to an estimated $20.3 billion, as profits in the financial services sector rebounded.
AIG announced on Wednesday that it is changing the way it pays out bonuses to its employees, opting to determine compensation based on performance.
Farewell and good riddance to 2009, a year in which a whopping 85% of big companies did away with across-the-board annual merit raises, according to a survey by Deloitte & Touche. Surprisingly, executives fared somewhat worse than the rank and file, with 66% of senior managers seeing either no increase in their pay or a salary reduction, versus 54% of employees in the same boat.
Top executives at mortgage finance giants Fannie Mae and Freddie Mac, both of which have been under government control since last year, received millions of dollars in pay in 2009, according to documents filed by the companies Thursday.
The good news is that you're more likely to get a raise next year. But the bad news is that the boost may not be as big as you'd like.
The reign of Washington's "pay czar" could soon be coming to an end.
New pay restrictions were unveiled Friday for hundreds of top employees at the nation's biggest bailout recipients, representing the latest effort aimed at protecting taxpayers' investment.
The Obama administration's pay czar will outline Friday another round of curbs on executive compensation for companies that took exceptional assistance from the government, but Bank of America won't be one of them.
It's bonus time on Wall Street and pay czar Kenneth Feinberg is walking a thin line.
The next round of executive pay decisions for companies that have received substantial government bailout funds could have a more lasting impact on pay practices nationwide, the special master on pay for the bailout said Tuesday.
In the end, pay czar Kenneth Feinberg's hardest case was AIG.
Washington launched its biggest offensive yet against Wall Street pay practices Thursday, taking aim at everyone from senior executives to high-flying traders of complex securities.
The Obama administration's pay czar is imposing tough cuts on 175 big earners -- but many on Wall Street are still on track for a banner payday.
The Obama administration will soon order the nation's biggest bailed-out companies to drastically cut the pay packages of 175 top executives, a senior administration official confirmed to CNN Wednesday.
President Obama's "pay czar" will soon decide whether top executives at firms that received the most assistance from the government during last year's financial crisis are making too much money.
Congress is resurfacing its outrage over AIG's bonuses after a report detailed the vast scope and scale of the troubled insurer's executive compensation plan.
AIG Chief Executive Robert Benmosche's $10.5 million annual pay package has been formally approved by Obama administration pay czar Kenneth Feinberg.
Nonprofit CEOs didn't feel the economic pinch in 2008 despite charitable giving having declined for the first time since 1987.
With Wall Street continuing to recover, so are the prospects for this year's bonus season.
Back in April, William Stickney got some unwelcome news. His employer was cutting his salary by 10%.
Compensation for top executives at many of the nation's largest publicly traded firms was essentially unchanged last year, even as the stock market plummeted, according to a study released Thursday.
A handful of major corporations have agreed to change the way they pay their employees, as calls to reform executive compensation structures heat up.
Earlier this year, public outrage boiled over with news of eye-popping pay to top executives on Wall Street.
Banks that received bailout funds said they are trying to comply with executive pay curbs imposed by the Treasury Department, but the firms are worried about changing rules and an inability to keep top talent, according to a report relesed Wednesday by a TARP overseer.
AIG's new boss will make an annual salary of $3 million and receive bonuses and stock options worth millions more, according to a company filing on Monday.
Just how much is a rainmaker at a bailed-out bank really worth? Or a senior executive at a recently bankrupt automaker for that matter?
Troubled insurer AIG did not pay $2.4 million in bonuses scheduled to be delivered to top executives on July 15, according to a Treasury official nominee.
The Securities and Exchange Commission filed charges Monday against Bank of America for misleading investors about billions of dollars in bonuses paid to top executives at Merrill Lynch following its purchase of the brokerage giant.
Even as top banks delivered abysmal performances last year, they still managed to pay out billions of dollars employee bonuses, according to a study published Thursday by New York Attorney General Andrew Cuomo.
It may not be long before shareholders have more control over how much money top executives across the country make.
Pay raises are expected to rebound next year after being severely stunted by the recession, a new survey showed Wednesday.
Goldman Sachs proved that it was well on its way towards making a full recovery from last fall's crisis, after its latest quarterly results shattered even the most bullish of expectations on Tuesday.
Bailed-out insurer AIG again found itself in the crosshairs of bonus rage on Friday over its plans to pay $2.4 million in executive bonuses next week.
Bailed out financial giant Citigroup said Wednesday it is going to the raise base salaries of its employees, although it is not planning to increase their total compensation.
The Obama administration moved forward Wednesday on curbing runaway corporate pay practices, proposing new legislation aimed at giving shareholders a greater voice on executive pay and appointing a new so-called "pay czar."
Shoot-from-the-hip legislators are getting what they asked for -- the slow death of the Wall Street bonus. But that's not necessarily a good thing. While bonuses became something of a dangerous entitlement over the past few fat years, the incentive-based pay schemes common to the financial industry had many virtues.
The furor over AIG's controversial bonuses is boiling over again.
As the economy melted down last year, so did CEO paychecks. The average compensation for 200 chief executives at America's largest public companies fell 5.1% last year to $10.8 million, according to a survey published Sunday by the New York Times and research firm Equilar. The decline marked the first time in five years that top executives' pay packages shrank compared to the year before.
The ex-CEO of the battered insurance and financial services company AIG said Wednesday the bonus plan for executives at his old firm was slipshod in recent years, with employees frequently leaving after receiving retention bonuses.
When Senator Chris Dodd, (D-Connecticut) crammed what he dubbed "tough new limits" on "lavish Wall Street bonuses" into the stimulus package, he may have created a bigger problem for the economy than the one he was trying to solve. The reason? His plan inadvertently rewards nonperformance and will drive talented financiers away from the companies that need them most.
At long last, angry shareholders may finally have their day.
© 2013 Cable News Network. Turner Broadcasting System, Inc. All Rights Reserved.
|