The Treasury Department is expected in the next few days to order companies that received huge government bailouts last year to slash the base salaries of their top executives by an average of 90 percent and cut their total compensation in half, according to a person familiar with the matter.
New construction on U.S. housing units was essentially flat in September at a seasonally adjusted annual rate of 590,000, as a big drop in multifamily units was offset by an increase in starts of single-family homes, the Commerce Department estimated Tuesday.
With federal regulators poised to propose changes for so-called "dark pools," the head of the New York Stock Exchange said tighter rules should be applied to the alternative trading systems that don't publicly provide price quotes and compete with traditional exchanges.
The worst thing a business can do in this economy is pull back on marketing and advertising, said Estelle Mannion, president of Stellar Productions Advertising LLC. In her keynote speech during the 7th annual Spirit of Excellence Black Business awards banquet Saturday at the Savannah Marriott Riverfront, she pointed out how necessary it is to stay out front in troubling times.
Bank of America Corp. said late Thursday that the U.S. government's "pay czar," Kenneth Feinberg, suggested to out-going Chief Executive Officer Kenneth Lewis that he should take no compensation for 2009.