Just when you thought the excessive pay issue had died down: Seven firms will submit proposals for their compensation packages by August 13 to Kenneth Feinberg, the compensation czar. These companies include Citigroup, Bank of America, AIG, General Motors Chrysler, Chrysler Financial and GMAC Financial Services.

The point here is to find a balance between incentive and excess. When it comes to Citigroup, the issue seems to be symbolized by Andrew Hall, whose contract to run the Phibro energy unit may result in a $100 million payday, according to the Wall Street Journal. (Here's more on the $100 million man.) This will be a very tricky issue for Feinberg--an early test. A contract is in place, just as they were in the AIG situation. It might be best for all if the board were to step in and find a solution now.

For more:
- here's a Reuters overview

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