The American Lawyer reports that new Obama administration appointees Eric Holder Jr., Jeh Johnson, Ronald Kirk and Tom Vilsack raked in the cash while working for Am Law 100 firms.
Holder, Obama’s nominee for attorney general, made $3.3 million at Covington & Burling last year… [he] stands to earn between $1 million and $5 million from Covington as part of a separation agreement with the firm. Holder also will receive a repayment of anywhere between $500,000 and $1 million from Covington’s capital account… If confirmed as AG, Holder’s annual salary would be $196,700…
…prospective Defense Department general counsel Jeh Johnson of Paul, Weiss, Rifkind, Wharton & Garrison, earned $2.6 million last year as a litigation partner at the firm. Like Holder, Johnson will receive severance of between $1 million and $5 million…
Obama’s nominee for U.S. trade representative, former… Vinson & Elkins partner Ronald Kirk, received $556,740 from his firm last year… the firm will pay him a $150,000 bonus and other accrued benefits, which… includes an outstanding $80,000 partnership share.
…Vilsack, who made partner at Dorsey & Whitney shortly before [becoming] Obama’s nominee for secretary of agriculture… earned $300,000 from his firm last year.
Looks like everyone’s going down a pay grade.
Read the complete story. Also here.