Word: feinberg
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Previously, Rob (Philip M. Gillen II ’13) returned from Kenya to find that his ex-girlfriend Nikki (Rebecca E. Feinberg ’13) had moved on and started dating a dude by the name of Wes Dooley (Cameron M. Johnstone ’12), who happened to be the star of the popular movie “Dartek” (directed by "Transformers" director Michael Bay, of course). The only people in the world of the Ivory Tower who don’t seem entirely captivated by Dooley’s charm...
...recently passed health care bill introduces a 10 percent tax on indoor tanning services. Dr. June Robinson, a clinical professor of dermatology at Northwestern University’s Feinberg School of Medicine, tells the New York Times that the dream is that this tax will work to decrease tanning bed usage much as prior taxes on addictive substances like tobacco and alcohol have decreased usage of those taxed items. The Congressional Joint Committee on Taxation also estimates that the tax will raise $2.7 billion over 10 years in hopes of offsetting some of the cost of providing health insurance...
...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...
...Capital Purchase Program initiated at the start of the financial crisis. But because the government owns common stock and not preferred, the Citi deal is unlike any of the hundreds the Treasury has struck with other banks that have participated in the program. Nonetheless, on Dec. 23, Feinberg issued Citi a letter saying the bank would no longer be subject to his executive-pay review...
...Wall Street pay was again in the spotlight in Washington. The House Committee on Financial Services held a hearing on executive compensation. Harvard professor Lucian Bebchuk, who recently consulted pay czar Kenneth Feinberg in setting compensation limits at bailed-out firms, said Congress should regulate and "place limits" on Wall Street pay. Nobel Prize-winning economist Joseph Stiglitz told the panel that bank pay incentivized traders and other employees to take the excessive risks that contributed to the financial crisis. And corporate-governance expert Nell Minow asserted that Wall Street firms had done little to change the pay practices that...