TARP’s Warren defends reported plans to slash salaries of key corporate executives

October 13th, 2009 Corporate Executive Board acquires TowerGroupARLINGTON, Va. — Business consultant The Corporate Executive Board Co.

October 5th, 2009 NEW DELHI - India's economy will grow at 6.3 percent this fiscal as per prediction, while inflation would remain under 5 percent, according to Planning Commission Deputy Chairman Montek Singh Ahluwalia. "The GDP (gross domestic product) would be at 6.3 percent by the end of this fiscal, as predicted, but could be even better given the signs of economic recovery," Ahluwalia said here Monday.

August 11th, 2009 GM submits executive compensation planWASHINGTON — General Motors Co. said Tuesday it had submitted its executive compensation proposal to the Obama administration, complying with a requirement for companies bailed out by the federal government.

August 6th, 2009 Wells Fargo increasing executives salariesNEW YORK — Wells Fargo & Co. said Thursday it is increasing the salaries for its top four executives, including CEO John Stumpf.

July 27th, 2009 NEW DELHI - The government Monday said it has received a complaint that retail chain Subhiksha had not paid salaries to its employees for the past three months and that outlets were closed without them being informed. "Anil Kumar, an ex-employee of the company, has made a complaint alleging non-payment of salary for three months and closure of all units without any communication from the management," said Corporate Affairs Minister Salman Khurshid in the Rajya Sabha in a written reply.

June 25th, 2009 BBC says it will publish top executives' salariesLONDON — The BBC says it will publish the salaries of its top executives, amid a clamor in Britain for more openness about how taxpayers' money is spent. Director-general Mark Thompson says the state-funded broadcaster will publish the full salaries and expenses of its top 100 earners and decision-makers.

June 19th, 2009 NEW DELHI - Cash-strapped Air India Friday asked its top executives to forego their salary for July, a spokesperson of the national carrier said here Friday. "The top management needs to indicate to all employees in the organisation that every single paisa which can be saved needs to be saved," said Air India chairman and managing director Arvind Jadhav in an internal memo addressed to senior executives.

June 19th, 2009 Report: Some bailout banks hold on to jet perksNEW YORK — A number of executives of banks that received federal bailout money have continued to use corporate jets for personal use despite controversy over such perks, according to a report Friday. The Wall Street Journal said flight records show that executives at Regions Financial Corp., Bank of America Corp., Morgan Stanley and Citigroup Inc.

June 18th, 2009 Germany passes law limiting executive payBERLIN — Germany passed a law Thursday that limits the salaries top executives are allowed to earn and encourages companies to focus on long-term strategies and performance. Lawmakers from Chancellor Angela Merkel's ruling Christian Democrats and their coalition partners, the Social Democrats, voted in favor of the law, which was drawn up in response to the global economic crisis.

June 15th, 2009 NEW DELHI - Employees of flag carrier Air India Monday threatened to go on strike if the management delays their salaries next month. National Aviation Co of India Ltd (NACIL), which owns Air India, had Saturday said it would pay the June salaries of its around 31,000 employees two weeks into July due to a cash crunch.

May 6th, 2009 NEW DELHI - A majority of Indian firms believe that there is a need to evaluate the performance of the top management and board members and to link the salaries of chief executives to corporate performance, said a report released by auditing major KPMG Wednesday. The report, 'The State of Corporate Governance in India: 2008', prepared on the basis of a corporate governance poll conducted by KPMG in India, said about 85 percent of the respondents said linking CEO remuneration to company performance would help improve corporate governance.

April 21st, 2009 Survey: cost cuts to remain after recession easesNEW YORK — Salary freezes, bonus reductions and unpaid furloughs have surged in recent months as companies try to survive without layoffs, and a new survey found many businesses intend to keep the cost-cutting measures after the recession eases. Nearly 60 percent of the companies say they are freezing salaries, while another 41 percent have or will tighten bonus criteria for executives.

February 10th, 2009 WASHINGTON - General Motors Corp, the largest US automaker, has unveiled plans to eliminate 10,000 salaried jobs around the world and cut pay by up to 10 percent in an effort to prove to Washington it is a viable company. The company is trying to hang on to $13.4 billion in government loans, which could be withdrawn if GM does not come up with a survival plan.

February 9th, 2009 WASHINGTON - About a quarter of businesses in America have frozen workers' salaries for 2009 in the wake of a pessimistic economic outlook, according to a new survey. Outsourcing and consulting firm Mercer in a survey released Monday said 25 percent of organizations surveyed said they have already decided not to raise their employees' pay, and another 20 percent are considering a salary freeze this year.

February 4th, 2009 WASHINGTON - US President Barack Obama Wednesday announced tough restrictions on the salaries of Wall Street executives seeking government aid and slammed financial firms for shirking their responsibilities as the country suffers a severe recession. The new rule will limit executives from companies getting 'exceptional assistance' from the government to a salary of $500,000 per year.