Bailout Recipients Publish New Spending Rules

2009-09-15 03:17:15 (GMT) (WiredPRNews.com - Business, News)

Bailout recipients recently published their new policies on spending.

Companies who received government bailout funds have outlined new policies meant to curb extravagant spending.

Press Release Service – Wired PR News – Keeping in line with requirements by the Treasury Department, companies who received bailout funds have posted new policies set to curb extravagant spending. As reported by the Associated Press (AP), financial institutions and automakers were required to detail their policies outlining spending rules and practices of employees.

As noted by the AP, the new policies covered various items including expenditures for travel and entertainment.

Renee Rashid-Merem, a spokeswoman for General Motors Co., is quoted in the report as stating of the company’s policy disclosure that GM’s, “expense policy is compliant with the requirements of our U.S. Treasury loans as well as the requirements of the (Emergency Economic Stabilization Act) rules and we plan to disclose our policy as required.”

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