Citi's board just gave CEO Vikram Pandit a $1.75 million pat on the back.
Citigroup (C) said Friday afternoon it gave Pandit, its CEO since its meltdown began in late 2007, what it called a well-deserved raise. Pandit made just $1 last year, as part of a gesture he made in February 2009 to quell rising bailout rage.
But by now, Citi has paid back the government and returned to full-year profitability, and the government has MOREColin Barr - Jan 21, 2011 5:07 PM ET
The housing recovery has stalled, but the gravy train rolls on for the government-appointed saviors of the housing market, Fannie Mae and Freddie Mac.
The top executives of the taxpayer-backed companies stand to make millions of dollars in salary, deferred pay and long-term incentive awards for 2010 – including substantial sums that are performance-based, at least in name.
Fannie (FNMA) CEO Michael Williams and Freddie (FMCC) chief Charles Haldeman each stand to MOREColin Barr - Dec 31, 2010 7:06 AM ET
Derek Jeter can do for the Yankees what very few people can do. CEOs, on the other hand, rarely set themselves apart from the rest of us with their talent and skills.
by Eric Falkenstein, contributor
Derek Jeter has had a great career, but last year he hit .270 (mediocre). Nonetheless, he's fielding offers like $45 million for 3 years.
Yet no one seems very angry about exorbitant pay in athletics, as MOREDec 7, 2010 3:37 PM ET
Strangely enough, it paid in many cases last year to overpay your CEO.
That's one surprising conclusion from Glass Lewis' latest report on executive pay. The proxy adviser rates the 25 most overpaid and underpaid chief executives at S&P 500 companies, based on changes in stock price, book value, operating cash flow, earnings, total shareholder return and the return on assets and equity. Glass Lewis repeated the exercise at the smaller MOREColin Barr - Oct 12, 2010 6:37 AM ET
Banker bonus backlash is so 2009.
Citi (C) is forking over $30 million to hire a top UBS energy banker and his team. The move comes after a bidding war for Stephen Trauber's services that will, at least briefly, give Trauber a salary 9 million times the size of Citi chief Vikram Pandit's – a rare instance of the CEO pay gap in reverse.
(Update: Citi contends the $30 million figure "is totally MOREColin Barr - Sep 27, 2010 12:07 PM ET
General Motors says TARP continues to cast a long shadow over the company.
The automaker said in Wednesday's initial public offering filing that executive pay restrictions tied to the company's receipt of some $50 billion in government loans could hamper GM as it tries to revive its fortunes in a hypercompetitive auto market.
As part of the cost reduction initiatives in our business plan, and pursuant to the direction of the Special MOREColin Barr - Aug 18, 2010 4:57 PM ET
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