WASHINGTON - The Obama administration's pay czar said on Thursday his compensation rulings will allow General Motors Co and Chrysler Group to retain talent but is willing to consider lateral offers to hire new executives.

Kenneth Feinberg, the U.S. Treasury's special master for executive pay at seven companies with massive taxpayer bailouts, told a forum sponsored by Bloomberg that the auto industry largely accepted his pay rulings without appeals.

If General Motors or any other company wants to bring someone in laterally -- laterally -- and competitive pay packages require that lateral hires get certain competitive pay, what have you, we're perfectly willing to examine that, Feinberg said. (Reporting by David Lawder; Editing by James Dalgleish)

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