$500,000 Executive Pay Cap: Reform or Political Gimmick?

CEOs used to the good life are coming to terms with the new era of corporate austerity. General Electric's Jeffrey Immelt said today that someone had to show him how to buy a ticket when he stopped taking the corporate jet on his trips to Washington and took Amtrak instead. Immelt said that grounding the Gulfstreams is one thing, but President Obama's decree that CEOs who accept substantial taxpayer help will be limited to $500,000 in salary could have more dire consequence. Immelt added...Full Story
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