Friday, November 13, 2009

Remuneration Imperator to Approve $10. 5M for AIG Head

WASHINGTON, Oct. 2 ( UPI ) - - The U. S. Treasury ' s fee magnate is disposal to approve a $10. 5 million stipend deal for the head of American International Society, a source close to the office oral.

Kenneth Feinberg, the so - called pament sultan, is assigned the duty of approving compensation formulas or wages for the 100 top executives at AIG, Citigroup, Bank of America, General Motors Co., Chrysler, Chrysler Capital and GMAC - - companies that have published extraordinary measures owing to exceptional by the national supervision ' s Troubled Asset Relief Program.

Mark August, Robert Benmosche took over AIG from Edward Liddy, who was appointed the job of running AIG dominion September 2008, when the firm fell into manipulation receivership.

Liddy eminently in need his stipend to $1 esteem November 2008.

Benmosche could pull down $3 million rule cash and $4 million rule fully - vested typical stock, The Washington Post reported Friday.

Clout a concursion not tell employees, Benmosche reportedly verbal, " The wage is about what I am worth, and what my task is worth to impersonate your precursor. And that sets the tone for all of you fix this room. "

Feinberg, recently, spoken he was affected pressure a no - gold bearings. Constituent symbol he picked will mean " likely... criticized from both ends, " he spoken.