Word: moneyitis
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...Virginia Tech mass shooting. In his latest high-profile role, as the Obama-appointed executive-pay czar, Feinberg announced Oct. 21 that the Treasury Department will slash compensation for the 25 highest-paid executives at the seven firms that received the largest chunks of federal bailout money: Citigroup, Bank of America, AIG, General Motors, Chrysler and the financing arms of the two automakers. Salaries are expected to shrink 50% on average, with the majority falling below $500,000, though firms that have already repaid their bailout debts, like JPMorgan Chase and Morgan Stanley, are not affected by the change...
...People should read some e-mails I received during the 9/11-fund work. 'Dear Mr. Feinberg: My son died in Oklahoma City. Where's my check?' ... How do you carve out the very special, generous use of public taxpayer money for just a small group of victims of life's misfortune?" - Explaining the turmoil he felt over having to turn down victims and families of victims of other tragedies because "the public-policy response to the 9/11 tragedy is unique to an unprecedented historical event" (The Washingtonian, March...
...powerless." TIME published a woe-is-California issue called "The Endangered Dream" in 1991 after the aerospace industry collapsed. But even with 12% unemployment, California still has an enviably young and productive workforce. And it's still a magnet for dice-rolling dreamers who want to start anew, make money and change the world, with or without pants. "I see my own pattern repeated again and again - people who want to invent the future and aren't afraid to fail," says billionaire Silicon Valley financier Vinod Khosla, an Indian immigrant who helped found Sun Microsystems and recently unveiled...
...California has been preparing for its clean-energy future for a long time. Starting in the energy crisis of the 1970s, California revamped its electricity markets so that utilities could make more money by helping their customers use less power. It also began enacting groundbreaking efficiency standards for buildings, appliances, pool heaters and almost anything else that needs juice. It just proposed the first standards for flat-screen TVs. As a result, per capita energy use has remained stable in California while soaring 50% nationwide, saving Californians an estimated $56 billion and avoiding the need for 24 new gas-fired...
...says Benson. "The only thing missing is the white picket fences." Those homes, where agents usually find large caches of automatic rifles and pistols, can also be scenes of violent kidnappings, beatings and murders. Last year a man abducted and badly beaten by Mexican traffickers because he owed them money was rescued by police in an Atlanta suburb just before his heavily armed captors were allegedly going to execute...