The pay czar, Kenneth Feinberg, is further extending salary restrictions by limiting these executives to salaries of $500,000 and putting an end to bonuses unrelated to performance. Additional restrictions include withholding 50% of compensation for at least three years and limiting cash to 45% of annual salary. GM could follow in the footsteps of other TARP recipients -- such as Bank of America ( BAC), which recently repaid the government funds, or Citigroup ( C), which is expected to repay the funds shortly. The move allowed Bank of America's next 75 highest-paid executives to avoid the recently announced pay restrictions. -- Reported by Andrea Tse in New York>>See our new stock quote page. Follow TheStreet.com on Twitter and become a fan on Facebook.
U.S. stocks are exhibiting wild swings between gains and losses Friday morning, reflecting seasonal volatility, concerns about the global growth trajectory, and excitement about third-quarter earnings.