Kenneth Feinberg

As we mentioned this weekend, the BP oil spill has been capped (for the time being), and now we can fully focus on who needs to get paid. As with so many things, it’s Ken Feinberg’s world and we’re just living in it. Bloomberg reports:

Kenneth Feinberg, who is overseeing a $20 billion fund to pay damage claims from BP Plc’s oil spill, pledged to create a system “more generous and more beneficial” to spill victims than taking the company to court.

More generous than court? Ooohh, judicial system, Czar Feinberg is calling you out. You gonna just take that?

double red triangle arrows Continue reading “Ken Feinberg Offers Better Deals than Lawsuits”

Russia.jpgFriday was the last day for companies on the government dole to submit their pay plans to Kenneth Feinberg, our nation’s new Pay Czar. The new compensation commissar is as powerful as a mid-winter blizzard on the Eurasian Steppe. According to Law.com:

The Obama administration’s “pay czar” is embarking on a review of proposed compensation packages for the top employees at seven companies that are on government life support, marking the first time a federal official will have veto power over how much private-sector executives are compensated.

Kenneth Feinberg, who ran the government’s fund for families of the victims of the Sept. 11, 2001, terrorist attacks, has 60 days to approve or reject the compensation plans submitted this week from bailout recipients. They include American International Group Inc. and General Motors.

Can’t you just see a detail of Feinberg’s men assigned to follow Fritz Henderson (the new CEO of GM) during his training routine? One day maybe Fritz will outrun Feinberg’s men and climb to the top of a high peak and scream “Fein-BERG,” as he prepares for an epic final battle with Feinberg himself?

In the meantime, here are more reasons why being a lawyer right now is better than being a banker.

double red triangle arrows Continue reading “Хороший день, Comrade Pay Czar. Не снимите нас”