Word: czar
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Critics contend that without the pay czar's oversight, Citi will again award outsize pay packages to its top executives. In 2008, despite steep losses at the bank, Citi reportedly paid energy trader Andy Hall $100 million. Indeed, a number of top Citi officials already seem to be cashing in on the bank's 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...
...exceptional assistance from the government. At issue is executive pay. EESA requires the Treasury Department to monitor executive pay at all the firms receiving government assistance. Last summer the Treasury said firms that are deemed to be receiving exceptional aid from the government would be subject to a pay czar. The office, later filled by high-profile lawyer Kenneth Feinberg, has the ability to set compensation for the 25 highest-paid employees at those firms. Other firms receiving government assistance are subject to much less stringent pay rules. (See pictures of TIME's Wall Street covers...
...giant title belt. "We do classic burgers at Bill's," said Brett Reichler, chef of the upstart Bill's Bar and Burger, a first-time entrant who followed Mendelsohn's lead in having hot models stand around getting out the vote. "What can I say?" said Randy Garutti, czar of Danny Meyer's phenomenally successful Shake Shack. "The Shack burger is a classic...
...industry's success, but that "there has not been an effort to manage, to pick and choose what works," she said in a phone interview from California. "That is certainly not the way Silicon Valley has done it in the past." (See why President Obama wants a cybersecurity czar...
...There are other groups who bring celebrities to campus, but what’s different about our award is we’re trying to celebrate someone who is a comedian first and foremost,” IGP Czar Scott A. Levin-Gesundheit ’11 said...