compensation

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Relatives of Plane Crash Victims Get First $55K

But damages are 'unlimited' for Lufthansa

(Newser) - Lufthansa today offered what it calls a "preliminary" payment to the relatives of each victim of the Germanwings crash , a sum of $54,800, reports NBC News . But preliminary is a key word, because the airline will surely be shelling out much, much more. For starters, a world treaty...

Overtime Rules Long Overdue for a Reality Check
Overtime Rules Long Overdue for a Reality Check
OPINION
Jan 11, 2014 9:55 AM CST

Overtime Rules Long Overdue for a Reality Check

Obama should raise out-of-date threshold, says op-ed writer

(Newser) - The requirement that most workers who go beyond 40 hours a week get time-and-a-half pay as a reward has been a great one since its inception in 1938, writes Ross Eisenbrey in the New York Times . But the current guidelines for salaried workers, as opposed to hourly ones, are way...

Public University Presidents Rake in Millions

Disgraced former Penn State boss Graham Spanier leads the pack

(Newser) - Last year, four public university presidents boasted compensation of more than $1 million, a study finds. At the top: Graham Spanier, the former Penn State president driven out by the Jerry Sandusky sex abuse scandal. Spanier made $2.9 million in the 2011-2012 fiscal year; part of that was his...

Women Shot by LAPD Get $40K for New Truck

Officers opened fire by mistake during fugitive manhunt

(Newser) - Finding a new truck for Emma Hernandez and Margie Carranza, to replace the one shot 102 times by the LAPD during their manhunt for Christopher Dorner , has proven too difficult, so instead the city has agreed to give them a $40,000 cash settlement, reports the Los Angeles Times . Officials...

Woman Hurt During Sex Wins Long Court Battle

Government worker will receive health compensation

(Newser) - At least in Australia, sex on the job is legally part of the job: A woman injured while fooling around on a business trip has won health compensation in federal court, the Sydney Morning Herald reports. The government worker, who remains unnamed, was on a work trip south of Sydney...

US Pays $50K Per Death in Afghan Rampage

US also pays $11K per wounded person, but US officials have no comment

(Newser) - The United States has paid almost $50,000 in compensation for each Afghan killed in the shooting spree attributed to a US soldier in southern Afghanistan, an Afghan official and a community elder said today. The families of the dead received the money yesterday at the governor's office, said...

Fake Death Scam Surfaces in Cruise Ship Case

Ship sinks, can rats be far behind?

(Newser) - The first scam has emerged in an apparent bid for compensation from the operators of crippled cruise liner Costa Concordia. A woman and her boyfriend were arrested in Hungary after falsely reporting two people missing on the ship, according to officials. The scheme was spotted by a New York lawyer...

Zynga to Workers: Can We Have That Stock Back?

Move could rock Silicon Valley model if successful

(Newser) - With what’s expected to be an almost $20 billion IPO looming, Zynga CEO Mark Pincus is starting to wish he hadn’t given out so much stock to attract early employees to his company. So he’s doing something unheard of: He’s demanding employees give their stock back...

BP to Gulf Residents: Here's a Bonus ... Now Don't Sue Us!

Feinberg offering $5K to individuals who agree not to sue

(Newser) - The administrator of BP's $20 billion compensation fund is offering Gulf residents cash bonuses to speed up the process, reports the New York Times. But there's a catch: Anyone who takes the money ($5,000 for individuals, $25,000 for businesses) has to agree not to sue BP or any...

No. of Feds Making Over $150K Soars

GOP to attack government pay in lame-duck Congress

(Newser) - The number of federal government employees making at least $150,000 a year is 10 times what it was five years ago, and it has doubled since President Obama’s inauguration, says a study by USA Today . House GOP members are hoping to pounce on the issue as the lame-duck...

BP's Gulf Fund Confusing Everyone

Including the Journal and the Post

(Newser) - All is not well with BP’s inscrutable Gulf compensation fund, but the exact problems seem to be a matter of debate. The Wall Street Journal today runs a piece complaining that payments have been too slow and weirdly erratic. The Justice Department has called the pace of payments “...

Brit Prisoners May Work to Compensate Victims

Justice chief wants to replace 'enforced idleness' with full-time work

(Newser) - Britain's justice secretary is looking for jobs—and a massive pay raise—for the country's 85,000 prison inmates. Ken Clarke wants companies to outsource work to the nation's prisons, and to pay inmates the national minimum wage of $9.39 an hour instead of the current maximum prison wage...

Public Employees Enjoy 12% Higher Pay Than Private

(Newser) - Private sector workers would need to put in an extra month and a half of work time in order to receive the same annual compensation as their counterparts on the federal payroll, according to data from a Bureau of Labor Statistics study. Accounting for educational level, experience. race, gender, and...

Higher SATs Mean More Cash for Egg Donors

Some worry about commodification as prices approach $35K

(Newser) - Smarter women—or at least those who test well—get paid more to donate eggs. "Holding all else equal, an increase of 100 SAT points in the score of a typical incoming student increased the compensation offered to oocyte donors at that college or university by $2,350,"...

Pay Czar to Examine Salaries at Bailed-Out Firms

Feinberg to review compensation for top 25 executives

(Newser) - The "pay czar" will review salaries and bonuses of executives at financial firms that have received government help. Kenneth Feinberg will examine the compensation of the top 25 executives at Goldman Sachs, Citigroup, JPMorgan Chase, and 417 other firms that took TARP money. If he finds evidence of risky...

Morgan Stanley Boss: Bankers Are Overpaid

But that's not going to change unless Washington steps in

(Newser) - John Mack, chairman and former CEO of Morgan Stanley, says Wall Street overpays its bankers, but that won’t change unless Washington steps in. “I still don’t think the industry gets it,” he said at an event yesterday. “The issue is not structure, it is amount....

Next Year, You Might Actually Get a Raise

Ten jobs likely to benefit from the improving economy

(Newser) - Unsurprisingly, 2009 was a grim year for many an employee’s wallet, with 85% of big companies doing away with across-the-board merit pay, but 2010 already looks a lot brighter. More than half the companies who froze salaries this year tell Fortune they plan to defrost them next year. Here’...

To Spur Bank Execs to Act, Mess With Their Pay
To Spur Bank Execs to Act, Mess With Their Pay
ANALYSIS
Dec 18, 2009 5:15 PM CST

To Spur Bank Execs to Act, Mess With Their Pay

Compensation limits have prompted swift TARP repayment

(Newser) - A common complaint about the TARP bailouts was that by injecting capital and making the financial environment more friendly, the government wasn't doing enough to push the banks into real reform. Why wouldn't the banks simply live off TARP cash as long as they could? Yet those concerns were unfounded,...

Bonuses at Morgan Stanley, JPMorgan, Goldman Hit $30B
Bonuses at Morgan Stanley, JPMorgan, Goldman Hit $30B
$250K APIECE
Nov 9, 2009 4:55 AM CST

Bonuses at Morgan Stanley, JPMorgan, Goldman Hit $30B

Average payout will be five times median household income in US

(Newser) - Recession? What recession? Some Wall Street firms are not feeling any pain this year as record bonuses at just three of the top firms are likely to hit an eye-popping $30 billion. Goldman Sachs, Morgan Stanley and JPMorgan Chase, the three biggest banks to be bailed out by the feds,...

Exec Pensions Soared as Stocks Tanked

Multi-million-dollar payouts escape pay watchdog scrutiny

(Newser) - Steep increases in the pensions of top execs passed largely unnoticed amid the recent uproar about pay and bonuses. The average pension for a top executive rose 19% last year even as share prices fell by an average of 37%. More than 200 execs saw pensions boosted by over 50%...

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