As aid bill for sick 9/11 responders fails, court settlement may be workers' only option Jul 30, 2010
"Ladies and gentlemen, you can wait and wait and wait for that legislation ... it's not passing," Kenneth Feinberg, the former special master of the federal 9/11 victim compensation fund, told an audience of ground zero responders Monday in a meeting on Staten Island. Democratic leaders opted to consider the House bill under a procedure that requires a two-thirds vote for approval rather than a simple majority. (FOX61, CT)
Right Wing Is Using Race To Smear Obama Jul 27, 2010
The fast-talking lawyer with the Boston accent has had some of the best titles in government, or anywhere else: 9/11 special master, pay czar and now the 20 Billion Dollar Man, in charge of doling out BP's money to Gulf Coast. 07/20/2010 06:44 PM ET. (Investors Business Daily)
Regions, Wells Fargo, 15 others hit for pay during crisis Jul 27, 2010
Birmingham Business Journal. Send this story to a friend. (Birmingham Business Journal, AL)
Colo. bank parents hit for bonuses Jul 24, 2010
Wells Fargo, Chase, U.S. Bancorp among banks criticized for bonuses during crisis - Denver Business Journal. Friday, July 23, 2010, 1:13pm MDT. (Denver Business Journal, CO)
Pay Czar Names 17 Firms for "Ill-Advised" Pay Jul 24, 2010
Feinberg, the Obama administration's special master for compensation, said the pay showed "bad judgment," but did not go against the public interest. If he had made that finding, he would have had to try to negotiate a reimbursement. (ABC News -- Business)
Pay czar: 17 big bailed-out banks overpaid execs by $1.6B Jul 24, 2010
Feinberg, whose official title is Special Master for TARP Executive Compensation, called the "pay czar," reviewed 419 companies that took bailout money before pay curbs were enacted by Congress in February 2009. The review covered the period from October 2008 to February 2009. (USA Today -- Money)
Wells Fargo, Bank of America, 15 others hit for pay during crisis Jul 24, 2010
Since the crisis, we have done a lot of work to make sure it is performance-based, and we look forward to reviewing the Special Master s recommendations. A spokesman at Wells (NYSE: WFC) said, We re evaluating Mr. Feinberg s recommendation for a board of director s provision regarding payouts. (New Mexico Business Weekly, NM)
Banks' pay in the firing line Jul 24, 2010
KENNETH Feinberg, the Obama administration's special master on executive compensation, will cite 17 bailed-out companies for making more than $1 billion in unwarranted or ill-advised payments to executives during the financial crisis, sources said. Almost all the firms Mr Feinberg plans to disclose are banks, said one of the people, who declined to be identified because the findings have not been released. (Sydney Morning Herald -- Business)
Pay czar blasts lavish rewards Jul 24, 2010
Kenneth R. Feinberg, the Obama administration s special master for executive compensation, said that while the 17 companies exercised "bad judgment" in making lavish payments to executives while taking taxpayer money, they didn t violate any laws or regulations. "They shouldn t have made these payments," Feinberg said at a news conference in Washington yesterday morning. (Boston Globe)
Kenneth Feinberg Jul 24, 2010
The Treasury Department's pay czar says 17 banks gave their top executives $1. 6 billion in lavish payments while they were receiving billions of dollars in taxpayer-funded bailouts. (MSNBC -- Business)
17 firms issued excessive pay Jul 23, 2010
In a report to be released today, Kenneth R. Feinberg, the Obama administration s special master for executive compensation, is expected to name 17 financial companies that made questionable payouts totaling $1. 58 billion immediately after accepting billions of dollars of taxpayer aid, according to two government officials with knowledge of his findings who requested anonymity because of the sensitivity of the report. (Boston Globe)
Feinberg to unveil Wall St.'s wall of shame Jul 23, 2010
New York lawyer Feinberg was vaulted into the public eye nine years ago when he was named the special master to funds established to compensate victims of the Sept. 11 terrorist attacks on the World Trade Center. Topics. (New York Post -- Business)
Special Master in Prudential Litigation Steps Aside as Conflicts Are Alleged Jul 17, 2010
The day after her appointment to oversee discovery in massive litigation against Prudential Life Insurance, a special master has withdrawn amid allegations that impermissible conflicts of interest barred her involvement ... The need for a special master in the Prudential litigation arose because Bergen County Superior Court Judge Brian Martinotti, who has been in charge of centralized management since February, that requires completion of hundreds of depositions in three months ... Prior to... (Law.com)
ILFC Founder Starts New Aircraft Leasing Company Jul 16, 2010
When the government took over AIG, a special master appointed by the Treasury Department ordered pay cuts for many AIG executives, including Udvar-Hazy. He said his pay dropped by more than 90 percent. (ABC News -- Wire)
FDNY bias case is slowly moving along Jul 16, 2010
Friday July 16, 2010. The administration is still negotiating a judge’s directive to hire certain minority applicants who didn’t do as well as whites on two FDNY exams, but reportedly wants to hire now based on a different test. (Queens Chronicle, NY)
2nd Circuit Seems Open to Release of Some Chevron Film Outtakes Jul 15, 2010
They discussed the possibility of a special master who would review the material to determine what should be released to Chevron. The judges indicated the order would cover any outtakes that show interactions between , who is seeking $27 billion in damages from Chevron for environmental damage caused by a predecessor company in Ecuador, and Ecuadorian government officials, a member of the judiciary and an ostensibly neutral expert. (Law.com)
9th Circuit Doles Out 6-Month Suspension to Top Plaintiffs Lawyer Jul 14, 2010
Lack's firm took the lead in enforcing the judgment in the United States, and lawyers there relied on a series of documents and representations they knew to be false to mask the error and prosecute the claim against Dole Food Co., according to findings from 9th Circuit Judge A. Wallace Tashima, who acted as a special master in sanctions proceedings against the plaintiffs lawyers. U.S. District Judge Nora Manella dismissed the U.S. case and flagged the problems, but Engstrom attorneys Sean Topp... (Law.com)
The remarkable judge who struck down DOMA Jul 13, 2010
Needless to say, some politicians on Beacon Hill didn't appreciate a federal judge issuing orders on state spending or placing a special master in charge of state agencies. But Tauro, who had previously served as a top aide to a Republican governor and then as U.S. attorney, managed those delicate relationships with great skill. (Salon)
Court Allows Class Action Against Insurer, Upholds Discovery Abuse Sanction Jul 3, 2010
The defense then claimed the information was privileged and, facing a plaintiffs' motion for sanctions, asked the court to appoint a special master to review it privately. The special master found that, while some of the documents were privileged, others were subject to discovery; the special master also recommended sanctions against Resource Life for discovery abuse. (Law.com)
Man at helm of oil fund master of mediation Jun 30, 2010
Feinberg began earning his reputation as a master of mediation in 1984, when a federal district judge asked him to serve as the court-appointed special master in litigation over Agent Orange, the defoliant used in Vietnam that veterans claimed caused serious health problems. In six weeks, he achieved a $180 million settlement in a case that had lasted four years. (Pensacola News Journal)
Let's get beyond partisan debate Jun 27, 2010
He appointed a "special master for compensation" to oversee Wall Street salaries and bonuses at companies receiving federal bailouts. Mr. Obama is not tinkering with school uniforms (Bill Clinton) nor questioning which bolt was attached to which flange when water gushed out of a grate outside the White House after an emergency generator system malfunctioned (Jimmy Carter). (Pittsburgh Post-Gazette, PA)
Garretson to handle WTC claims Jun 26, 2010
As allocation neutral, or special master, Garretson will be responsible for reviewing medical and other supporting information submitted by the claimants and determining each individual s final settlement amount based on pre-established criteria. The firm will also ensure that the administration of the settlement meets all terms and requirements of the settlement process agreement, according to a press release issued by the firm. (Cincinnati Business Courier, OH)
Colo. to share in $173M chip settlement Jun 25, 2010
Colorado s share of the settlement, which will be determined by an a court-appointed special master, will be deposited in the general fund, the state attorney general s office announced. denvernews@bizjournals. (Denver Business Journal, CO)
How the EU Commission Made Microsoft Stronger Jun 22, 2010
One of the interesting conversations I had with the special master who was assigned to the Microsoft EU case was on documentation. He was convinced that Microsoft was purposely not supplying the documentation competitors needed to interoperate with Microsoft s platforms. (Datamation)
9th Circuit Lifts Attorney Sanctions in FedEx Discrimination Case Jun 22, 2010
Illston appointed a special master, Edward Swanson of , to deal with the fees, and FedEx accused McCoy of fabricating many of his hourly estimates. McCoy got into deeper trouble with the special master, and Illston, after he failed to produce contemporaneous time records he had been ordered to turn over. (Law.com)
Allen: Relief wells ahead of schedule Jun 20, 2010
Feinberg, an attorney who was special master of the 9/11 victims fund and advises Obama on Wall Street pay issues, asserted that the fund will be independently managed. He emphasized that he is not aligned with the government or BP.. (CNN)
Seizing Justice Jun 19, 2010
Setting up the office of a pay czar, officially known as "special master for compensation," was another of this administration's many violations of the private sector. The position was established to oversee executive pay at companies that took bailouts. (Investors Business Daily)
Pay-UP Czar: Feinberg to Handle Latest Cash CrisisBailout manager to oversee fund distribution in wake of BP Oil Spill Jun 18, 2010
Administration Looks to Former 'Special Master of Compensation' to Manage Payouts ... " Related Years ago the Washington lawyer was tapped to chair the government's compensation fund for victims of the Sept. 11, 2001, attacks. Then he doled out money to victims of the . And just last year he was again enlisted by the government to crack down on executive pay at companies that received huge in the wake of the financial crisis. For the Wall Street pay gig, the government even gave him quite a... (ABC News -- Business)
BP agrees to $20b account to pay Gulf claims Jun 17, 2010
The fund will be administered by Kenneth Feinberg, the Washington lawyer who oversaw a similar fund for victims of the Sept. 11 terror attacks and who more recently was the Obama administration s special master for executive compensation. This administration and our company are fully aligned in our interest of closing this well, cleaning the beaches, and caring for those affected, Svanberg said. (Boston Globe)
Bonus battle Jun 17, 2010
The dispute signals that before the Redskins would consider trading Haynesworth, they first will look to get back some of the money they paid him in what could turn into a battle that lands on the desk of the NFL's Special Master. It also puts the NFLPA in a difficult spot, because it will have to take a stand publicly defending Haynesworth. (ESPN -- Football)
Judge: New 9/11 health pact 'very good deal' Jun 11, 2010
While other attorneys wait their turn at media microphones, Kenneth Feinberg, left, former special master for the September 11th Victim Compensation Fund, speaks during a news conference outside U.S. Federal District Court, on Thursday ... People disappointed with their award would be able to appeal to a neutral administrator, and the court appointed Kenneth Feinberg, the former special master of the federal 9/11 victim compensation fund, to serve in that role. (MSNBC -- Terrorism)
NFLPA issues challenge to structure of NFL television deals Jun 10, 2010
In a complaint submitted to special master Stephen Burbank at the University of Pennsylvania, the NFLPA contends that the league breached its fiduciary duties to the players by strengthening its bargaining position via what amounts to "lockout insurance" during the 2011 season, which could involve a work stoppage unless the league and player's union agree to new terms on a collective bargaining agreement ... com, the NFLPA is asking that the Special Master, appointed to hear such cases after the... (ABC 7 News, DC)
NFLPA challenges NFL television deals Jun 10, 2010
The NFL Players Association is challenging the structure of the NFL's television contracts in a filing Wednesday to Special Master Stephen Burbank of the University of Pennsylvania. The NFLPA is arguing that the league essentially set up a 2011 lockout protection fund with the structure of its TV deals. (ESPN -- Football)
NFLPA files complaint against NFL over TV deals Jun 10, 2010
The complaint was filed to the special master who oversees disputes between the two sides. In a statement, the NFL noted that union executive director DeMaurice Smith said earlier this year: "My hat's off to Roger Goodell. Television is locked up until 2014 to the tune of about $5 billion a year.". (SportsIllustrated.CNN -- NFL)
Ga. High Court Tosses Lawyer's Second Suspension Request Jun 8, 2010
Frederick confirmed, however, that Shaw has twice delayed the appointment of a special master to hear evidence that could lead to his disbarment. That's because Shaw filed petitions for voluntary discipline before the State Bar could file a complaint against him. (Law.com)
Blankfein Emulates Buffett as No. 48 Among Wall Street's Highest-Paid CEOs May 27, 2010
The Wall Street CEOs are hoping that lower compensation will buy them some cover from the public outrage over the governments bank bailout, says , the Obama administrations special master on executive pay ... May 6 (Bloomberg) -- Kenneth Feinberg, the U.S. special master for executive compensation and founder of the Feinberg Group LLP, talks with Bloomberg's Lori Rothman about his plan to examine the compensation practices of more than 150 companies that received U.S. government aid. (Bloomberg)
DeLeo needs to clean his House May 26, 2010
On Monday, Margaret Marshall, chief justice of the state s Supreme Judicial Court, and Robert Mulligan, the trial court s chief justice for administration and management, suspended O Brien and appointed a special master to investigate the department. Yet that long overdue move hardly ends the problem. (Boston Globe -- Editorial)
Feinberg Said to Review Pay Packages of $500,000 or More at 150 U.S. Firms May 6, 2010
April 26 (Bloomberg) -- Kenneth Feinberg, the U.S. special master for executive compensation and founder of the Feinberg Group LLP, talks with Bloomberg special correspondent Willow Bay about efforts to curb pay at seven bailed-out companies, including Citigroup Inc. and American International Group Inc. Feinberg calls the gap in perception "shocking" between the way Wall Street and Main Street think on compensation. They speak at the Milken Conference in Los Angeles. (Bloomberg -- US)
Ethics Commission Levies Record Fine Against Texas Judge May 1, 2010
The special master, 37th District Judge David Berchelmann Jr. of San Antonio, wrote in his Jan. 19 findings of fact filed with the judicial conduct commission that for events on Sept. 25, 2007, the day the state executed Richard. But Berchelmann found that Keller's decision not to keep the CCA's office open past 5 p.m. on that day to receive a motion for stay of execution and writ of prohibition for Richard was "questionable.". (Law.com)
Senator solicits input on Indian trust settlement Apr 29, 2010
He also suggested setting aside 50 million of the settlement money for certain lawsuit participants who receive 'insufficient or unfair" amounts under the settlement's payment formula. The money would be distributed by a 'special master" appointed by the court. The Wyoming Republican called on tribal leaders across the country to share their input. (Coos Bay-North Bend The World, OR)
Fed Supervisors Press U.S. Bank Executives to Reduce Incentives for Risk Apr 22, 2010
the Obama administrations special master on compensation, and members of his staff have met with Fed officials in the past several weeks and talked about what the principles should be governing compensation, Feinberg said in an April 19 interview. Feinberg requires that the five companies whose pay he oversees, including , eliminate cash guarantees and reward executives mainly with long-term stock. (Bloomberg)
Revenue sharing gets one last ruling Apr 18, 2010
A dispute filed by the NFL Players Association as to how the funds would be distributed was rejected by Special Master Stephen Burbank Thursday ... The special masters ruling has helped clear up the revenue-sharing concept for the previous four years, but with no salary cap there will be no revenue sharing this year, which will make things a little tougher for those teams, like the Vikings, that dont have big revenue streams generated by their stadiums. (VikingUpdate.com)
Feinberg Says That Many Bailed Out Executives `Don't Get It' on Pay Curbs Apr 10, 2010
April 10 (Bloomberg) -- , the U.S. special master on management compensation, said many executives dont get it when it comes to curbing pay at bailed out companies. Theres very little sentiment or support for their position in the United States, Feinberg told SBS Televisions Dateline in an interview to be broadcast April 11. (Bloomberg -- US)
Judge again faults state for rural education Apr 10, 2010
ANCHORAGE - A state judge is threatening to appoint a special master to oversee rural Alaska schools ... ANCHORAGE - A state judge is threatening to appoint a special master to oversee rural Alaska schools ... Deputy Education Commissioner Les Morse told the Anchorage Daily News it's not clear from the judge's order what role a special master would play. (Juneau Empire)
Court rules statistical sampling is legal Apr 9, 2010
The trial judge, recognizing the time it would take to decide each of these individually, appointed a former judge as a special master in the case, directing him to find a way of resolving all of the claims within 24 months ... The special master eventually hired a statistician who came up with a sampling plan. (AZCentral -- Business)
Duke Energy battle latest in N.C./S.C. water war Apr 8, 2010
The city has submitted a request to San Francisco attorney Kristin Linsley Myles, the special master assigned to over see South Carolina v. North Carolina ... We believe that we could be helpful to the special master as she works through the massive amounts of water-use data in this case and the issues that relate to Charlotte s use of water from the Catawba. (Charlotte Business Journal, NC)
FCC Denies Petition To Delay Comcast/NBCU Merger Review Apr 6, 2010
Mabuhay had also asked that a "special master" be appointed to get information from both companies on five years' worth of data on programs that reference Asian Americans, Asian Americans employed in top positions by the companies and philanthropic investments in the Asian American community. The FCC also rejected that request, saying that if the commission wants to, it can gather that data itself "through usual discovery procedures, if it so chooses." That is the argument that Comcast and NBC... (Multichannel News)
Executive pay slips for second year in a row Apr 2, 2010
Long-term performanceBut Kenneth R. Feinberg, Obama's special master for compensation, told the Post he wanted to change pay incentives to give executives a greater stake in the long-term performance of their firms. That would mean smaller upfront cash salaries and fewer perks, more compensation in the form of company stock and a longer wait to receive it, according to the Post. (MSNBC -- Business)
Special counsel says Tampa International Airport violated rules Apr 2, 2010
The board approved a new zoning policy that Smith said would clarify how height variances are issued by TIA. A special master will hear requests for variances, hold public hearings and make a recommendation to the board, which will vote on the issuance. In the past, Miller made those decisions after the Federal Aviation Administration approved the requests. (Tampa Bay Business Journal, FL)
Toyota seeks consolidated lawsuits Mar 26, 2010
"Somebody is going to get this thing. It is going to be a ton of work," said attorney David Cohen of Cleveland, who frequently has been appointed as a "special master" to assist judges in similar cases. The judge who is chosen will make several key decisions, including whether all Toyota owners affected by the recalls should be treated as a single class that could be paid for the vehicles' lost value. (USA Today -- Autos)
US panel to consider locale of Toyota lawsuits Mar 25, 2010
"Somebody is going to get this thing. It is going to be a ton of work," said attorney David R. Cohen of Cleveland, who has been appointed frequently as a "special master" to assist judges in similar cases. The judge who is chosen will make several key decisions, including whether all Toyota owners affected by the recalls should be treated as a single class that could be paid for the vehicles' lost value. (Atlanta Journal-Constitution -- Business)
US high-flyers tough it out on pay curbs Mar 24, 2010
The Treasury Department is expected to release its findings on Tuesday, when Kenneth Feinberg - special master for executive compensation - will approve pay packages for last year's 25 highest earners at five companies that received multiple bailouts. Pay for top earners at those companies is, on average, expected to fall by 11 per cent from 2009 levels, to $US1. (Sydney Morning Herald -- Business)
Pay czar cuts top earners pay at bailout firms Mar 24, 2010
March 22: Kenneth Feinberg, special master for compensation, explains his decision on 2010 pay for executives at five companies in an interview withCNBC's Mary Thompson. CNBC. (MSNBC -- Business)
Pay Cuts Coming for Execs at Bailed-out Companies Mar 24, 2010
FILE - In this Oct. 27, 2009 file photo, Special Master for Executive Compensation Kenneth Feinberg. FILE - In this Oct. 27, 2009 file photo, Special Master for Executive Compensation Kenneth Feinberg, also known as the Treasury Department's "pay czar", speaks during a discussion at Georgetown Law Center in Washington. (ABC News -- Wire)
AIG Increases Pay for Most Top Managers Who Remained After U.S. Bailout Mar 24, 2010
Six of eight managers who had their 2009 awards set by Feinberg, the Obama administrations special master on executive pay, had their overall packages expanded this year, according to a Treasury Department released yesterday. Chief Executive Officer has said that AIG must offer competitive pay to keep employees needed to repay its rescue. (Bloomberg -- US)
Most top execs didn't leave firms after TARP pay-cut rules Mar 24, 2010
Treasury's special master for executive pay at companies that received government bailout money, announced Tuesday that 84% of the top executives at , Bank of America, Citigroup, , , Chrysler Financial and stayed in their jobs even though he cut their cash compensation by 90% and total pay more than 50% last year. "There are always predictions that people will leave if they don't get paid what they want," says , professor at the ' Anderson School of Management. (USA Today -- Money)
Wall Street Divorces Get Messier as Bankers Face Crackdowns on Bonus Cash Mar 24, 2010
the U.S. special master on executive compensation, said at a press briefing in Washington yesterday that American International Group Inc. and four other companies whose pay he oversees -- General Motors Co., GMAC Inc., Chrysler Group LLC and Chrysler Financial Corp. -- would have to cut cash compensation to top executives by 33 percent from last year ... March 23 (Bloomberg) -- Kenneth Feinberg, the U.S. special master on executive compensation, talks with Bloomberg's Carol Massar about the... (Bloomberg -- Germany)
Feinberg Cuts Executive Cash Pay at AIG, General Motors, GMAC, Chrysler Mar 24, 2010
As special master on compensation, Feinberg must also review the pay structures, though not the amounts, for the 26th to 100th highest-paid employees at the five companies ... March 23 (Bloomberg) -- Kenneth Feinberg, the U.S. special master on executive compensation, talks with Bloomberg's Carol Massar about the impact of cuts in pay on the ability of companies to retain top executives. (Bloomberg)
Pay czar orders more caps at 5 bailed-out firms Mar 24, 2010
The rulings by Kenneth Feinberg, the special master for compensation, apply to 119 executives at , General Motors, Chrysler, GMAC, and Chrysler Financial. Feinberg said he would reduce cash payments to the top 25 executives at each of the companies by 33 percent, on average, compared with 2009 levels. (Boston Globe)
Pay czar said to be widening review Mar 23, 2010
Kenneth Feinberg, the Troubled Asset Relief Program s special master on compensation, will reportedly review pay for top executives at all the financial firms that got US bailout assistance. (Ann Heisenfelt/Getty Images/File 2010) By Associated Press / March 23, 2010. (Boston Globe)
AIG Chief Benmosche Awarded Salary of $7 Million This Year, Feinberg Says Mar 20, 2010
His compensation wasnt changed this year, Feinberg, the Obama administrations special master for executive pay, said in an interview yesterday. Feinberg, who controls awards for AIGs 25 highest- paid employees, may issue his 2010 determinations in a document later this month. (Bloomberg -- US)
Amy Totenberg nominated to be federal judge Mar 18, 2010
She has been serving as a special master, overseeing and monitoring a special education lawsuit in Baltimore. She also serves as a court monitor for the U.S. District Court in Washington. (Atlanta Journal-Constitution -- Metro)
Obama's Pay Czar to Set New Salary CapsDecisions due on 2010 pay packages for top employees at five firms. Mar 18, 2010
Ken Feinberg, the Treasury Department's special master for executive compensation, is set to unveil his decisions on the 2010 pay packages for the top 25 highest-paid employees at five companies receiving "exceptional" help from taxpayers. Related. (ABC News -- Business)
Court: Vaccine Doesn't Cause Autism Mar 16, 2010
"Such families must cope every day with tremendous challenges in caring for their autistic children, and all are deserving of sympathy and admiration," special master George Hastings Jr. wrote ... Special master Denise K. Vowell noted that in order to succeed in their action, the parents would have to show "the exquisitely small amounts of mercury" that reach the brain from vaccines can produce devastating effects that far larger amounts. (Newsmax)
Commissioners join other governmental units in criticism of state's compliance with Headlee Amendment Mar 16, 2010
Recommendations in the report included, but not limited to: * Drafting legislation and court rules that would mitigate unfunded mandates imposed on local units of government in the future; * Proposing procedures that will prevent new unfunded mandates from being imposed on local units of government, and procedures that would be corrective should unfunded mandates be imposed, such as, a submission of an action before the Court of Appeals to be heard by a special master in order to rule on whether... (Paw Paw Courier Leader, MI)
