This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

No 2012 Raises for CEOs at AIG, Ally, GM

NEW YORK ( TheStreet) -- The Treasury Department Friday said that the CEOs of Ally Financial, American International Group (AIG - Get Report) and General Motors (GM - Get Report) won't get pay raises in 2012.

The companies received exceptional assistance under the Troubled Asset Relief Program and are still partly owned by the federal government.

In a news release, the Treasury Department said pay packages for the three companies' CEOs were frozen at 2011 levels but there was a change in the mix of stock salary and long-term restricted stock for these executives.

As part of the TARP program, the government helps determine compensation for the top 25 executives at these companies.

The release said that among the 69 executives in this group (six executives have departed since the beginning of the year), some compensation packages increased, while some decreased and some remained at 2011 levels.

Overall, the cash compensation for these executives decreased 18%, and their total direct compensation decreased 10% from 2011 levels, the release said.

> > Bull or Bear? Vote in Our Poll

The three companies are the remaining recipients of exceptional assistance under TARP. The four other original recipients -- Bank of America (BAC), Citigroup (C), Chrysler Financial and Chrysler -- are no longer in the program.

Shares of AIG closed Thursday up 37 cents at $32.89. Shares of GM closed the session down 29 cents at $24.81. The U.S. stock market was closed Friday in observance of Good Friday.

This article was written by a staff member of TheStreet.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AIG $54.68 1.20%
GM $37.68 0.99%
AAPL $126.37 2.53%
FB $83.20 -0.13%
GOOG $552.03 0.67%


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs