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: Legal Blog Watch

D.C. Lawyer Kenneth Feinberg to Serve as Pay Czar

By Carolyn Elefant

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Cutting the pay of executives who head the corporations that received bailout money is a thankless job, but the Obama Administration has determined that someone's got to do it. And that someone is is none other than D.C. lawyer and mediator Kenneth Feinberg, who today was appointed "Executive Pay Czar" by President Obama, according to The New York Times. Among his responsibilities, Feinberg will: [D]evelop 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...

Full post as published by Legal Blog Watch on June 10, 2009 (boomark / email).

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