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Business: Executives / Pay Cuts #951487

ABC Evening News for Thursday, Oct 22, 2009
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(Studio: Charles Gibson) The formal plan from pay czar Kenneth Feinberg for reining in the pay of executives of the seven corporations receiving the most taxpayer bailout money reported. [In interview with ABC's Betsy Stark, FEINBERG - says he has tried to balance both sides.]

(New York: Dan Harris) The opposition on Wall Street to these pay cuts examined; a statement from Bank of America quoted; details given of the arguments against cutting salaries. [FBR Capital Markets bank analyst Paul MILLER†- cites the need to retain talent.] [Carnegie Mellon University corporate management professor Robert MILLER†- suggests Feinberg focus on tying performance to money going back to taxpayers.]

Reporter(s):
Gibson, Charles;
Harris, Dan
Duration:
00:03:20

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