Is This Fair? Fed Slashes Salaries Of Executives That Took Federal Funds

The U.S. Treasury this afternoon unveiled sweeping pay cuts for the top 25 executives at seven companies that received government bailouts, including General Motors Co., Chrysler Group LLC, GMAC Inc. and Chrysler Financial LLC.

In nearly all cases, salaries for the executives will be no more than $500,000 annually. No one at Chrysler will earn more than $500,000 in salary, and the company's CEO Sergio Marchionne will receive no salary from Chrysler, but be paid by Fiat SpA.

GM's president and CEO Fritz Henderson will see his $1.26 million salary cut to no more than $950,000. Just one other employee will receive more than $500,000 at GM in salary.


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