US 'plans bail-out firm pay cut'

[demoleft]

"Firms in the US which received billions of dollars of government aid in the financial crisis are to be told to cut the pay of top executives.

The seven companies that received the most aid from the US Treasury will have to reduce the basic salaries of their 25 best-paid employees by up to 90%.

The totals paid to each firm's 125 top earners would be halved under the plan.
...
Executives will also need permission to claim perks worth more than $25,000 per year - including country club memberships and company cars. Until now, companies were only required to provide guidelines for the use of such luxuries."

bbc, http://news.bbc.co.uk/2/hi/business/8319674.stm

at least.