NEWS ABOUT: bonuses

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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 »

Wall Street Bonuses to Plummet

Falling revenues behind expected 40% plunge

(Newser) - The latest news from Wall Street is likely to leave most ordinary Americans dry-eyed. Year-end bonuses for bankers and traders are expected to be down sharply this year, plunging up to 40% to their lowest level since the financial crisis, according to a closely watched industry forecast. A bond trader... More »

10 Fannie, Freddie Execs Rake in $13M in Bonuses

Meanwhile, Fannie employees suspended amidst federal probe

(Newser) - Fannie Mae and Freddie Mac execs banked Wall Street-esque paychecks this year for meeting what Politico terms “modest performance targets” in modifying troubled mortgages. Ten top executives at the two firms received a combined $12.79 million in bonuses, agency records show, and that’s not counting a second... More »

Congress Dished Out $6.1M in Staff Bonuses

Paychecks boosted as spending debate raged

(Newser) - Even as the austerity-conscious House was threatening a government shutdown earlier this year, dozens of representatives were giving their staff $6.1 million in bonuses, reports CNN . The bonuses were hard to track down, and were generally hidden as "other compensation" in expense reports, with Republicans handing out $908,... More »

JPMorgan CEO Gets 1500% Raise

Plus, see what other CEOs made in 2010

(Newser) - Jamie Dimon had a pretty decent year: The JPMorgan CEO, who steered his bank through Wall Street's meltdown and saw it emerge as arguably the healthiest US bank, took home $20.8 million last year. That's up roughly 1500% over his $1.3 million compensation package the year before, notes... More »

Transocean Execs Land Fat Safety Bonuses

Company had 'best year in safety performance'

(Newser) - That minor explosion that killed 11 people and dumped 200 million gallons of oil into the Gulf of Mexico aside, it seems Transocean had a banner year in terms of safety. And to celebrate the "best year in safety performance in our company's history"—despite noting the "... More »

CEO Bonuses Shoot Up 30.5%

Some shareholders express disapproval

(Newser) - So far, it’s looking like 2010 was a banner year for CEOs. An analysis of disclosures released by 50 major corporations reveals that the median CEO bonus jumped 30.5%, the Wall Street Journal reports, significantly outpacing the companies’ 19.4% median net income growth. Some of the biggest... More »

Wall Street Pay Hits Record $135B

And revenues hit record, too

(Newser) - Wall Street shouldn't have much to grumble about: Total pay at publicly traded banks and securities hit a new high of $135 billion last year, reports the Wall Street Journal. That's up 5.7% from 2009 figures. "Things are shifting back to where they were before," says a... More »

Google Fires Employee Who Leaked News of Raises

It's a nice place to work, but ...

(Newser) - A really good day turned sour in a hurry for one Google employee. After getting the company memo announcing that all workers were getting 10% pay raises , the employee leaked it to Business Insider. A few hours later, Google honchos fired the unidentified leaker, reports CNNMoney . Google will neither confirm... More »

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