When Congress drafted the $700 billion financial bailout bill, they intended to limit Wall Street executives' sky-high pay. To do this, they included a process for reviewing executive pay, recovering bonuses based on unrealized earnings, prohibiting "golden parachutes" and punishing firms that break the rules.
The "Worst EU Lobbying Awards," sponsored each year by Corporate Europe Observatory, Friends of the Earth Europe, LobbyControl and Spinwatch, have been announced for 2008.
The Association of Professional Political Consultants (APPC), the peak body for PR professionals and lobbyists in the UK, is horrified that the opposition Conservative Party is proposing that government agencies be banned from hiring lobbyists.
"General Motors, teetering on the brink of insolvency, has taken the extraordinary step of calling on employees and dealers to personally urge lawmakers to approve another loan package that might keep the beleaguered automaker from going under," reports Wired.com. GM North America president Troy Clarke emailed 29,000 employees, "Your elected officials must hear from all of us now on why this support is critical. ...
"President-elect Obama is already backing off his pledge not to hire any lobbyists to serve in his administration," reports Shawn Zeller.