Foundation Financial Group executive vice president Mark W. Boyer has been promoted to chief executive officer of the company. iStar Financial Inc. said it promoted David DiStaso to chief financial officer. Connie Queralt was promoted by The Kislak Organization to director of accounting and human resources.

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New York, NY, United States (AHN) – Eric McCormack, from “Will and Grace” fame, has signed up to play the lead role in TNT¹s new show “Perception.” This is a new pilot from executive producer Kenneth Biller, who produced “Smallville,” and co-executive producer Mike Sussman, who produced “Star Trek: Voyager.”

This will be McCormack¹s third time working with TNT – he starred in the short-lived the 2009 series “Trust Me” and co-produced the 2007 pilot “Imperfect Union.” In addition to his new starring role, the actor will also act as a producer on “Perception.”

“Perception” is about Dr. Geoffrey Pierce, an eccentric neuroscientist who uses his unique outlook to help the federal government solve complex cases. His knowledge of human behavior and understanding of the human mind, helps the quirky professor pull lessons from an odd and imaginative view of the world. Biller and Sussman both wrote the pilot episode.

“Eric McCormack is an intelligent, intuitive and versatile actor who is adept at both comedy and drama,” said Michael Wright, executive vice president, head of programming for TNT, TBS and Turner Classic Movies (TCM). “We’re very excited to work with him again and can¹t wait to see what he brings to the fascinating character of Dr. Geoffrey Pierce.”

Unlike “Trust Me,” TNT’s show about a small advertising agency in Chicago, which only lasted one season, maybe McCormack will have better luck with “Perception.”

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Washington, D,C., United States (AHN) – Financial analysts told a special congressional panel Thursday that corporate executives should have their pay tied more closely to the investment risks of their companies.

Congress is investigating claims that excessive executive compensation contributed to the housing crisis and recession that started in December 2007.

They also are trying to determine how government can intervene to prevent the bad decisions of executives from dragging down the rest of the economy.

“Risk is not a factor in compensation,” Rose Marie Orens, a senior partner at Compensation Advisory Partners consulting firm in New York, told the congressional panel.

Currently, most executives are paid a percentage of a company’s earnings, which can reach into the tens of millions of dollars per year at some large corporations.

However, they do not risk losing their own money when they make decisions that hurt a company or its customers.

The pay system also encourages them to invest money in ways designed to earn a quick profit, according to witnesses before the Congressional Troubled Asset Relief Program Oversight Panel.

An example mentioned during the hearing involved Countrywide Financial Corp., a company that provides mortgages to homebuyers.

Its executives loosened credit terms to allow more people to qualify for home loans. When their personal finances failed, they were unable to pay back the mortgages.

As a result, many of them lost their homes through foreclosure, which contributed to the recession.

Investment firms Bear Stearns and Lehman Brothers were accused of making similar bad decisions to make credit easily available to customers.

The corporate executives made more money for themselves by extending the easy credit, but they also dragged down the nation’s economy.

“Has any executive of Bear Stearns lost their health care and had to go to an emergency room to get it,” asked Damon Silvers, a member of the congressional panel.

“Not to my knowledge,” said Kevin Murphy, finance chairman at the University of Southern California Business School.

The Bush administration appointed a “special master” to develop recommendations on how corporate executives are paid.

The recommendations from Kenneth Feinberg, the special master, include requiring corporate executives to accept a base pay that is consistent with salaries of other management employees.

Any incentive compensation they receive would be only in the form of corporate shares.

They would be forbidden by the Securities and Exchange Commission from selling the shares for a period of years.

A delay of years before they could sell stock would discourage them from trying to win quick profits for their companies that reflect bad business decisions, Feinberg said.

In addition, their retirement benefits – sometimes called “golden parachutes” – would be more limited.

Feinberg also recommended a bigger role for the Securities and Exchange Commission in monitoring executive pay, which now is determined almost exclusively by the corporations.

“I don’t think we approve anyone’s pay package – maybe one or two people – over $10 million,” Feinberg said Thursday before the congressional panel.

Sen. Ted Kaufman (D-Del.), a member of the panel, said he liked the idea of limiting incentives for executives to company stock rather than cash.

He implied it would make them invest more wisely.

“If the market goes down, they should take the hit,” Kaufman said.

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