Word: auto
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Dates: during 2000-2009
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...Hand The Treasury established Feinberg's position after Congress passed the American Recovery and Reinvestment Act in February. Feinberg has jurisdiction over the 100 highest-paid employees at the seven firms that the government deemed "exceptional assistance recipients": insurer AIG, financial firms Bank of America and Citigroup, auto companies Chrysler and General Motors and their former finance arms Chrysler Financial and GMAC...
...Feinberg had the seven firms disclose what the executives in question earned in the past two years. He then collected data on top executives' salaries in the auto and financial industries. None of those at the bailed-out firms, in Feinberg's view, should receive more than the average pay for that position in their industry. Then he got feedback from within the firms on how well each individual...
...homeowner and found it staggering that just the mortgage-interest and property-tax deductions amount to $96 billion per year. The elimination of those two deductions alone would virtually pay for health-care reform. I recall the fear expressed when the removal of interest deductions for auto loans and credit cards was first discussed. The bottom did not fall out of those sectors. Nor will it fall out of the housing market. Peter Remondino, Scottsdale, Ariz...
...dying auto industry, failing schools, rampant unemployment and a home foreclosure crisis: Detroit has no shortage of ills, but in recent years it has made progress combating the city's notorious tradition known as Devil's Night, the period leading up Halloween each year when scores of buildings would be torched. Yet earlier this month, when nearly a dozen vacant homes were set afire in the span of a weekend, authorities here feared the worst: The real estate crisis that has hit Detroit particularly hard would mean a resurgence of Devil's Night. (See pictures from the fight against Devil...
...rescue program that saved some and not others, depending on political and social criteria. The most recent example: Delphi Corp., GM's former parts division that was spun off a decade ago, which recently emerged from bankruptcy proceedings. White collar Delphi retirees are having their pensions whacked, but United Auto Workers pensioners are being made whole...