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...loosened pay restrictions. Earlier in the week, Citi, which lost $1.6 billion in 2009, disclosed that it had paid John Havens, widely seen as the bank's No. 2 executive, nearly $10 million in compensation for his work last year. That topped even the salary of Goldman Sachs chief executive Lloyd Blankfein, who was paid $9.6 million in 2009. Goldman, though, had profits of $13.4 billion in 2009. Alberto Verme, who for a time oversaw Citi's Dubai operations, responsible for billions of dollars in losses for the bank, was paid $7.8 million...

Author: /time Magazine | Title: Citi and the Government: Still a Close Relationship | 3/4/2010 | See Source »

Joel Rassman, chief financial officer of luxury homebuilder Toll Brothers Inc., says the program sounds "expensive" to him, although he does say that a lower fee "might make the program worthwhile" in certain markets...

Author: /time Magazine | Title: A Guarantee Against Losing Cash on Homes? | 3/4/2010 | See Source »

...months our results have been on par with the industry. But I would have to say we have to accelerate our success in North America." Reuss also acknowledged that some of the pressure to get things done faster comes from the board of directors, led by former AT&T chief Ed Whitacre, who is settling into his role as GM's chief executive, and Wall Street veteran Steven Girsky, the UAW's choice for a seat on the board, who is now in charge of GM's strategic planning...

Author: /time Magazine | Title: For GM, It's Two Steps Forward, One Step Back | 3/4/2010 | See Source »

...that after it's launch, the project could cost between $300,000 to $400,000 a year to maintain. Yet even that relatively small amount has some organizations, including a national pet-product trade group and even the Humane Society, raising concerns. Jennifer Fearing, California senior state director and chief economist for the U.S. Humane Society, supports the measure's aims but worries about whether it can get passed. Says Fearing: "I would be shocked if this legislature is prepared to enact any tax this year, much less one levied on pet owners who are struggling to care for their...

Author: /time Magazine | Title: Should There Be an Animal-Abuser Registry? | 3/4/2010 | See Source »

...with good reason. General Khan reckons that the Pakistani Taliban have killed over 500 tribal elders since 9/11 for supposedly collaborating with Islamabad and Washington. Even after assurances from the army chief, the Mehsud elders are still afraid to venture back to their lands. "The jihad has eliminated the old tribal system of maliks," says General Khan. "Now any crook with a cell phone can call up a gang of his militant friends for any kind of mischief, and everyone is too afraid to stop them." His former colleague, Brigadier Mahmoud Shah, formerly in charge of security for the Northwest...

Author: /time Magazine | Title: Pakistan's Taliban War: Bringing Back the Music | 3/3/2010 | See Source »

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