Archive for January 21st, 2010
Published in CNBC January 21, 2010 by Reuters
A substantial number of AIG’s Financial Products employees set to get some $195 million in retention payments no longer work with the bailed out insurer, sources familiar with the matter said on Wednesday.
Link to full article
A number of rule revisions by the SEC will require public companies and management investment companies to make new or enhanced disclosures in their proxy statements and other public filings beginning in 2010. The most significant of these changes, Proxy Disclosure Enhancements (Releases Nos. 33-9089, 34-61175, IC-29092 (Dec. 16, 2009), was adopted by a 4-1 vote of the SEC on December 16, 2009, and amends Regulation S-K, Item 401 (Directors, Executive Officers, Promoters and Control Persons), Item 402 (Executive Compensation) and Item 407 (Corporate Governance) effective as of February 28, 2010 (the “Disclosure Enhancements”).
Goldman Sachs Group Inc., facing criticism from politicians and labor unions for near-record compensation, set aside $16.2 billion to pay employees, the smallest portion of revenue since the firm went public in 1999. The amount, 35.8 percent of revenue, is enough to pay each of the 32,500 employees $498,246. That compares with an average pay of $316,928 a year earlier and is down from the record $661,490 in 2007.