- Credit Markets on Edge About When Fed Will Raise Rates
- Bove: Expect Goldman To Increase Dividend Meaningfully
- Bullish Sign for Gold: Central Banks Are Big Buyers
- Victoria's Secret Hopes to Rekindle Desire for Lingerie
- High Roller Sues Harrah's for Lost Millions
- Wall Street Jobs Slow to Return Despite Record Profits
- Big Shareholders Ask Goldman to Cut Bonuses: Report
- Buying an Expensive House? Government Can Help
- Review: What It's Like to Drive the New Chevy Volt
- How Stock Investors Can Play Holiday Travel
- Time Lapse World Series Is A Great Play
- Hirschhorn: Greed...or Fear
- My Top 10 Tech Toys for the Holidays
- iPhone a Better Gaming Platform Than Android?
- May Day For Dendreon
- 100% Mortgage Financing From USDA
- Holiday Tipping: Who And How Much
- Deep Discounts Should Make It a Very Tech-y Holiday
MOST SHARED
- Nielsen Ratings Coming to Video Games
- Confessions of a Black Friday Shopper
- 'New Moon' Midnight Showings Earn Record $26.3 Million
- Time Lapse World Series Is A Great Play
- Oil Next Week
- The Week Ahead
- Nov. 20: Unusual Volume Leaders
- Twilight, Inc., A Worldwide Craze
- Latest Bullish Sign for Gold: Central Banks Are Big Buyers
Text Size 
General Motors Chief Executive Fritz Henderson will get a rise in his compensation package to $5.45 million under new rules advocated by the U.S. pay czar, Bloomberg said, citing a person familiar with the matter.
Henderson's $1.26 million cash component will be cut 25 percent to $950,000, the person told the news agency, but he will receive $4.24 million of stock and restricted stock, the Treasury said in a letter to General Motors.
The report said his 2008 compensation totaled $1.71 million, reflecting the reduced value of some stock awards.
 |
CNBC.com Fritz Henderson |
The U.S. Treasury's pay czar has slashed 2009 pay rates by more than half for top executives at seven banks and automakers that received big taxpayer bailouts and set new guidelines on payment of bonus awards.
"Most people wouldn't consider it a raise. They brought the salary down some and increased the reliance on long-term stock," GM spokeswoman Julie Gibson told the news agency.
General Motors could not be immediately reached for a comment by Reuters outside of regular U.S. business hours.
- Technology can make or break a fortune in the world of alternative energy.
- Many people are facing the holidays with substantially smaller incomes. Here’s how some are adapting.
- Jim Cramer is a proponent of stocks that pay healthy dividends, and here are his top five dividend plays.
- From salt, to lip balm to envelopes, it turns out that bacon flavoring can sell almost anything.
- The homebuyer's tax credit jacked sales for a while, but 2010 is looking weak. Now what?
- CNBC’s technology reporter Jim Goldman guides you through the best gadgets to buy this holiday season.
Data is a real-time snapshot *Data is delayed at least 15 minutes