Scribd Logo
Upload

Welcome to Scribd!

  • TheSun 2009-02-06 Page17 KLCI Index

    Uploaded by

    Impulsive collector
    31 views1 page
    U.s. President Barack Obama sets a US$500,000 (RM1. Million) annual cap on pay for top executives at companies receiving taxpayer funds. Critics say the compensation cap was a political gambit that could prompt a talent flight from affected firms. The total wealth of the city's 40 richest men, women and families plunged from US$179 billion (RM644. Billion) to US$82 billion (RM295. Billion)

    Original Description:

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    U.s. President Barack Obama sets a US$500,000 (RM1. Million) annual cap on pay for top executives at companies receiving taxpayer funds. Critics say the compensation cap was a political gambit that could prompt a talent flight from affected firms. The total wealth of the city's 40 richest men, women and families plunged from US$179 billion (RM644. Billion) to US$82 billion (RM295. Billion)

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    31 views1 page

    TheSun 2009-02-06 Page17 KLCI Index

    Uploaded by

    Impulsive collector
    U.s. President Barack Obama sets a US$500,000 (RM1. Million) annual cap on pay for top executives at companies receiving taxpayer funds. Critics say the compensation cap was a political gambit that could prompt a talent flight from affected firms. The total wealth of the city's 40 richest men, women and families plunged from US$179 billion (RM644. Billion) to US$82 billion (RM295. Billion)

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 1

    theSun | FRIDAY FEBRUARY 6 2009 17

    business

    Updated
    IS in
    a new
    model
    pg 18

    could trigger a trade war.

    briefs
    Senators, on a voice vote,
    approved an amendment
    requiring the Buy American
    provisions be “applied in a
    manner consistent with US
    obligations under international
    Exec pay limits for agreements”.
    bailout companies The change gives Canada,
    WASHINGTON: President Barack Mexico, the European Union
    Obama took on bailed-out Wall and certain other major trad-
    Street firms on Wednesday, setting ing partners some comfort
    a US$500,000 (RM1.8 million) an- they would be exempted
    nual cap on pay for top executives from a strict requirement in
    at companies receiving taxpayer the bill that all public works
    funds and tapping popular anger projects funded by the stimu-
    over financial sector excesses. lus package use only US-made
    He said more measures would iron, steel and manufactured
    be outlined next week to overhaul goods.
    the crisis-hit US financial sector, The House of Representa-
    which has been propped up with tives has passed a nearly
    billions of dollars in public funds. identical Buy America provi-
    “This is America, we don’t sion without such a guarantee.
    disparage wealth. ... What gets – Reuters
    people upset, and rightfully so,
    is executives being rewarded for Downturn costs HK
    failure. Especially when those tycoons billion$
    rewards are subsidised by US
    taxpayers,” he said. HONGKONG: Hongkong’s top
    The president won support in 40 tycoons lost more than half
    Washington, with some Republicans their total wealth over the past
    who were critical of the financial 12 months as plummeting stock
    sector bailout praising the move. markets savaged investments,
    But Wall Street critics said the Forbes magazine said yesterday.
    compensation cap was a political The total wealth of the city’s 40
    gambit that could prompt a talent richest men, women and families
    flight from affected firms. – Reuters plunged from US$179 billion
    (RM644.4 billion) to US$82 billion
    Senate OKs softened (RM295.2 billion), Forbes said in
    an article to mark the start of the
    ‘Buy American’ plan Chinese Year of the Ox.
    WASHINGTON: The US Senate Li Ka-shing, head of conglom-
    voted on Wednesday to soften erate Hutchison Whampoa which
    a “Buy American” plan in its has interests ranging from ports
    US$900 billion (RM3.24 trillion) to mobile phones, saw his wealth
    stimulus bill after President drop from US$32 billion (RM115.2
    Barack Obama expressed billion) to 16.2 billion (RM58.32
    concern the original language billion). – AFP

    You might also like