It turns out Kenneth Feinberg's visit to Wall Street might end up being more of a stay-cation. Having recently slashed compensation for bailed out firms in 2009, Feinberg is already gearing up for 2010. "When we start talking about what to do in January 2010, we are building off of my recommendations for 2009," he said yesterday in an interview with Reuters.
He intends to hand down rulings on the new top 25 executives at bailed out firms in 2010, and by the end of this year, he must rule on compensation for the next 75 top performers. If companies repay funds they've received under TARP, they'll be out of Feinberg's clutches. (Reuters
Winding Down (WSJ)
's liquidation of its hedge funds is more than 90% complete. Sri Lankan stocks couldn't handle it, but the rest of the market seems to be adjusting.
AIG, Part II (FINS)
Maurice Greenberg is trying his hand at another family of insurance companies and staffing them with AIG
Rising Temps (Business Insider)
Demand for temping jobs has gone up over recent months. We say, if you can staple and photocopy your way into a finance job, take it!
More on Bonuses (Reuters)
plans to match salaries and bonuses with sustainable performance, but won't make the changes until some units turn a profit.
Expensive Expense Accounts (NYT)
Miss the days of expensing first class tickets to Bali? Yeah, we didn't do that either. But expense accounts are coming under scrutiny as companies try to save.
Finance Can Be Poetic (WSJ)
Look at Goldman Sachs
: It wants to defend dark pools and short selling. Sounds like the name of a finance-themed Dan Brown thriller: The Blankfein Code.
Still in Play (Wealth-Bulletin)
Hankering after a Rolex or LV bag, no matter what it costs? You're not alone. Check out the top ten most resilient luxury brands that have barely suffered in the wake of the financial crisis.
McCann Campaign Pledge (WSJ)
Robert McCann pledges to turn around UBS's U.S. brokerage unit. He wants to restore client trust and turn a profit. Not necessarily in that order.
Good Assets (Universumglobal)
Universum released a list of the top 50 most attractive employers. Numerous finance and accounting shops made the list.
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