bonuses

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Defense Dept. Will Stop Seeking Repayment of Vets' Bonuses

Secretary Ash Carter announces change amid outcry

(Newser) - US Defense Secretary Ash Carter has ordered the Pentagon to stop seeking repayments of enlistment bonuses given to California National Guard members who served overseas. His decision comes in the wake of angry reaction from members of Congress who demanded he relieve the burden on the Guard members, reports the... More »

Cops: Auto Shop Gives Meth as Employee Bonuses

'Least now we know why the work was so fast'

(Newser) - Police are investigating after a Minnesota auto body shop gave its employees methamphetamine "bonuses," the Smoking Gun reports. Police say 40-year-old Jesse Seifert, owner of Clear Choice Auto Body Repair in Mankato, held a meeting this week and had his girlfriend, 39-year-old Nancy Loehlein, hand out a half... More »

Bonuses for Wall Street Bankers Drop Most in 4 Years

But workers are still getting $146K

(Newser) - For Wall Street bankers, 2015 didn't turn out as well as it usually does in terms of bonuses. Per Bloomberg , the average bonus fell 9% last year to $146,200, which is the largest decrease since 2011, according to estimates by NYS Comptroller Thomas DiNapoli. As the Washington Post ... More »

Facebook to Pay Each UK Worker $1.1M Bonus

Not for purely altruistic reasons, though—it's to save big on its tax bill overseas

(Newser) - Facebook has found a creative way to drastically bring down its tax bill in the UK: Pay each employee who works there a million bucks, NBC News reports. As first noted in the Sunday Times , the company will pay out nearly $397 million in bonuses to UK staffers, which comes... More »

Everything Is Awesome for Lego Employees This Christmas

More than 17,000 employees will be getting an extra paycheck in January

(Newser) - You know who might like Legos even more than your kids? The company's employees. That's because Lego is giving more than 17,000 employees around the world an extra month's salary in January, the Copenhagen Post reports. A Lego spokesperson says to think of it more like... More »

Texas Company Rewards Employees With $100K Bonuses

'They are such amazing motivators'

(Newser) - Fortune named Houston's Hilcorp Energy as the 20th best place to work in the US last year. And boy were they not kidding. The Houston Business Journal reports the oil and gas company recently handed out $100,000 bonuses to every employee as a reward for meeting the... More »

CEO Sells Company, Gives Employees 'Life-Changing' Bonus

The average bonus works out to $237K

(Newser) - The founder of one of Turkey's most successful brands, the food delivery company Yemeksepeti, in May sold his 15-year-old company to Germany's Delivery Hero for $589 million. He's quite literally sharing the wealth: $27 million is going to 114 of the company's 370 employees. "Yemeksepeti'... More »

Firm Pays Out $61K in Bonuses ... in $2 Bills

It's a way to show support for community, says boss

(Newser) - A Nebraska bullet-manufacturing company likes to make its bonuses memorable. A few years ago, a portion was distributed in $1 coins, but they were a bit heavy to haul around—so this year, Hornady Manufacturing opted for $2 bills. Bosses handed out $61,000 worth of the rare bills, an... More »

AIG Chief: Bonus Backlash 'as Bad' as Lynchings

Robert Benmosche's comment prompts call for his resignation

(Newser) - Doing nothing to help rehabilitate the public image of bankers, AIG's CEO Robert Benmosche has sparked outrage by comparing backlash over the millions in bonuses the company paid staff in 2009 to racist lynchings. The uproar "was intended to stir public anger, to get everybody out there with... More »

Banks Reel In Execs' 200% Bonus Limit to ... 150%

PNC, Capital One among 7 major banks taking action

(Newser) - Fearing too much risk-taking, the Federal Reserve has been calling on banks to cut down on the bonuses execs can get for blowing past their financial targets—and some top banks are following through. PNC, Capital One, Discover, and four other major financial firms are doing just that, the Wall ... More »

Yahoo Gave Marissa Mayer $1.1M Bonus After 6 Months

Plus restricted stock worth $13.3M

(Newser) - Marissa Mayer got a pretty sweet six-month anniversary gift from Yahoo: She spent just half of 2012 as CEO, and got a $1.12 million cash bonus for her troubles, CNNMoney reports. She also received restricted stock worth $13.3 million, according to company filings. This year Mayer, who started... More »

Wall Street Braces for Dismal Bonuses

Worst since '08, but average still hits $101K

(Newser) - Poor little Wall Street: The New York Post is reporting that the 2012 bonus season is likely to be a lean one—at least by the Street's standards. It seems your average Wall Streeter will be taking a 16.5% hit over last year's bonuses, and a 50%... More »

Hostess to Dole Out Up to $1.75M in Exec Bonuses

Says incentive pay will help it retain necessary personnel

(Newser) - Hostess executives are in for a sweet finish: A federal bankruptcy judge yesterday gave the company the OK to hand out as much as $1.75 million in bonuses to 19 corporate officers and high-level managers. The bonuses are intended to serve as a carrot to keep these employees with... More »

Banker Busted for Role in Financial Crisis

Ex-Credit Suisse exec faces extradition to US

(Newser) - A former Credit Suisse banker accused of contributing to the 2008 financial crisis in an effort to boost his bonus has been arrested in Britain and faces extradition to the US. Kareem Serageldin, who was arrested outside the US Embassy in London, allegedly inflated the values of mortgage-backed securities as... More »

MF Global Execs to Still Get Bonuses

COO, CFO, and general counsel stuck around to help trustee

(Newser) - MF Global may have gone down in a ball of flames, but its chief operating officer, chief financial officer, and general counsel are all likely to get six-figure performance-based bonuses anyway, the Wall Street Journal reports. All three execs stuck around after the crash to help trustee Louis Freeh deal... More »

Inside Bankers' 'Malaise' Over Slashed Bonuses

Wall Street workers finding it difficult to get by, or so they say

(Newser) - Wall Street bankers received smaller bonuses this month, and it is really hard for them. If you're having trouble dredging up any sympathy, perhaps that's because you just don't understand what it's like to be in the 1%: "People who don’t have money don’... More »

GOP Grumbles as GM Spends $500M on Bonuses

Uncle Sam should come first, Republicans say

(Newser) - General Motors had a great year last year— making a record profit and reclaiming its crown as the world's biggest automaker —but some lawmakers aren't happy about its plans to reward its workers. The company plans to pay bonuses of at least $182 million to white-collar workers... More »

Taxpayers Have Paid Millions to Defend Fannie Execs

FHFA has spent $37M on accused fraudsters since takeover

(Newser) - The US government has sunk almost $100 million into defending a trio of ex-Fannie Mae executives accused of securities fraud, including $37 million since the government took control of the firm, according to a regulatory analysis released today. The Federal Housing Finance Agency is on the hook for those costs... More »

Hey, Wall Street: Shut Up About Bonuses

Matt Taibbi says bankers are still overpaid

(Newser) - Matt Taibbi was incredulous when he read a recent New York piece in which Wall Street denizens whined that Dodd-Frank was limiting their bonuses. "I watch what I spend," one banker lamented, "but my girlfriend likes to eat good food," which adds up fast. "Quelle ... More »

Boss Divvies Up $15M to Surprised Employees

Owner of bus company in Australia sells firm, feels generous

(Newser) - The boss of an Australian bus company dished out $15 million in bonuses to his employees. Ken Grenda sold his company and used the proceeds to give an average $8,500 to every one of his 1,800 workers. Grenda, 79, attributed his generosity to the typically enormous gap between... More »

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