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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: bonuses

bonuses stories: 122 news summaries

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 Merrill Boss Seeks 
 $10M Bonus 

Directors unlikely to comply given public sentiment

Dec 8, 08 4:01 AM CST
(Newser) - Merrill Lynch narrowly escaped extinction this fall, and CEO John Thain is seeking an end-of-year bonus of as much as $10 million for keeping the company alive, reports the Wall Street Journal. Merrill's board of directors—acutely aware of public scrutiny—appear unlikely to fork over that kind of package... More »

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executive compensation • Bank of America • Merrill Lynch • Lehman Brothers • bonuses • John Thain • financial crisis • recession depression

(Newser) - A year of flush oil prices is paying off nicely for Exxon Mobil chief Rex Tillerson. He will get a $4 million bonus this year and a 10% increase in salary next year to $2.06 million, Reuters reports. Tillerson also will receive 225,000 shares of restricted stock. In... More »

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Exxon • bonuses • Rex Tillerson • Exxon Mobil • oil industry

analysis

Bailout CEOs: Make Them Share Taxpayer Risk

When taxpayers have to take a stake, CEOs should have to do the same

Dec 2, 08 12:36 PM CST
(Newser) - As taxpayers become stakeholders in the very firms that made this economic mess, it’s become easy to say that losing CEOs should be stripped of their salaries, writes Andrew Ross Sorkin in the New York Times. But driving out good CEOs is no way to rebuild the banking sector.... More »

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executive compensation • CEO • salary • bonuses • financial crisis • Andrew Ross Sorkin

Munificent Obama Empties Coffers on Staff

Some get an extra month's pay, can keep BlackBerrys and laptops

Nov 14, 08 3:18 PM CST
(Newser) - Barack Obama’s campaign is redistributing the wealth to the staff, the New York Daily News reports. The loaded campaign will give its troops a bonus equivalent to a month’s pay and allow employees to keep campaign-issued phones and computers, provided they pay the taxes. “It's a very... More »

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Barack Obama • Hillary Clinton • John McCain • bonuses • campaign staff • Election 2008 • President Obama

Chrysler Execs to Get $30M
in Retention Bonuses

Will auto bailout change that?

Nov 14, 08 10:11 AM CST
(Newser) - Even as nearly bankrupt Detroit automakers beg Congress for a bailout, Chrysler is preparing to pay its top executives $30 million in retention bonuses, the Detroit Free Press reports. Chrysler says the deals were necessary measures to keep top talent in place when they were conceived last year during... More »

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Chrysler • DaimlerChrysler • executive compensation • bonuses • auto industry • bailout • auto bailout

Wall Street's Bonus Season 'Not Going
to Be Pretty'

Experts are predicting cuts of 20%-50%

Nov 6, 08 7:49 AM CST
(Newser) - For the second consecutive year, Wall Streeters are likely to see their wallets lightened by bonuses projected to be down 20% to 50% from a year ago, reports the Wall Street Journal. And while everyone is likely to be a little blue, the biggest loss of green may be... More »

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Wall Street • Goldman Sachs • investment bankers • bonuses • financial crisis

Wall Street Execs Ponder Slashing Their Own Pay

Bailed-out finance firms may cut compensation to silence critics

Oct 31, 08 5:33 AM CDT
(Newser) - Top Wall Street execs are considering heading off public outrage by cutting their own pay, insiders tell the Wall Street Journal. The big financial firms pay out billions in bonuses to their execs every year. They now fear a public relations disaster is looming as critics charge that the $125... More »

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executive compensation • salary • bonuses • bailout • executives • corporate execs • financial crisis

AIG Agrees to Freeze Executive Bonuses 

NY takes tough action to limit payouts to curNewser Newsroom 1.15.0rent, former bigwigs

Oct 22, 08 4:55 PM CDT
(Newser) - AIG will suspend bonus payments to its executives after getting pressure from New York Attorney General Andrew Cuomo. The ailing insurance firm, which recently got billions of dollars in loans from the Federal Reserve, also will stop $19 million in payments to a former CEO fired in June. Cuomo said... More »

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insurance companies • executive compensation • insurance • AIG • bonuses • bailout • financial crisis • Wall Street bailout

Wall St. Bonuses Are Down, but Hardly Out

Even giants taking a federal handout set aside millions for execs

Oct 22, 08 9:29 AM CDT
(Newser) - Wall Street bonuses could top $23 billion this year despite the woes of the global economy, Forbes reports. Indeed, that figure is down some 30% from last year’s $33.2 billion, but a smaller pool of employees, competition among companies to keep top performers, and the effects of mergers... More »

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Wall Street • Citigroup • executive compensation • Goldman Sachs • bonuses • financial crisis • Wall Street bailout

Lloyds CEO Vows Bonuses, Despite Bailout

CEO promises execs big paydays for
their 'terrific job'

Oct 21, 08 6:51 AM CDT
(Newser) - The CEO of Lloyds had promised staff that they will receive bonuses even though the British banking giant is being bailed out by the government. Employees were told that Lloyds faced "very, very few restrictions" after taking up to $9.4 billion in government money, reports the Guardian.... More »

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United Kingdom • Gordon Brown • bonuses • Britain • bailout • HBOS • Lloyds of London • Lloyds TSB

Tough German Bailout Caps Bank Salaries

Bonuses, dividends
also nixed for
troubled firms' execs

Oct 20, 08 4:48 AM CDT
(Newser) - The German cabinet approved the terms of a $645 billion bailout plan today—which includes a salary cap for top bank managers. Banks who take part in the bailout must cap managers' salaries at about $670,000 and withhold bonuses and dividends. Some of Germany's top banks have said they... More »

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Germany • Deutsche Bank • liquidity • bonuses • mortgage backed securities • salary cap • bailout

 Bankers to 
 Reap $70B 
 Despite Crash 

Economy's woes
don't put stop to
Wall Street bonuses

Oct 18, 08 7:05 PM CDT
(Newser) - Wall Street’s top banks are set to pay their financial workers more than $70 billion in salary and bonuses this year—a tenth of the $700 billion in taxpayer money committed to the bailout—despite the huge drops in share price and cash shortages they are experiencing, the More »

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Wall Street • Morgan Stanley • Deutsche Bank • bonuses • banking industry • financial crisis

OPINION

 The Perils of Positive Thinking 

Not just greed, but optimism and can-do led to Wall Street's downfall

Sep 24, 08 11:39 AM CDT
(Newser) - “Positive thinking,” the philosophy of self-help books and corporate retreats, has had some negative effects on Wall Street, Barbara Ehrenreich writes in the New York Times. It's popular to blame greed of executives and traders for the current meltdown in the financial markets, but the unbridled optimism... More »

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Wall Street • executive compensation • philosophy • blindness • credit crisis • bonuses • optimism • positive thinking


NY Lehman Crew Gets $2.5B
Bonus Pool

European workers, unsure of salaries, furious at payout

Sep 23, 08 9:00 AM CDT
(Newser) - Some 10,000 New York Lehman Brothers employees will share bonus pay of $2.5 billion, sparking anger among the investment bank’s European workers and critics of unfair compensation in the imploding finance arena, the Independent reports. The money was arranged before Lehman declared bankruptcy. Lehman’s British staff,... More »

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London • Europe • New York • Barclays • bankruptcy • salary • Lehman Brothers • bonuses • financial crisis

Shareholder Revolt Strips WaMu Execs
of Fat Pay

One resigns; chairman asked to step down

Apr 16, 08 1:19 PM CDT
(Newser) - Washington Mutual shareholders got some of the blood they were out for yesterday, the Wall Street Journal reports, as the company backtracked on a pay scheme that would have shielded company executives from the subprime fallout. Board finance-committee head Mary Pugh also resigned, appeasing investors who blamed her for failing... More »

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executive compensation • housing market • shareholders • Washington Mutual • bonuses • subprime crisis • Kerry Killinger

Subprime Lender CEOs Defend Exec Pay

Merrill, Citi and Countrywide honchos cashed in as companies foundered

Mar 7, 08 3:50 PM CST
(Newser) - Banking executives who took home huge paychecks even as the subprime mortgage crisis battered their companies appeared before Congress today to defend their actions. Democrats on the House Oversight Committee grilled them about their enormous pay packages as Republicans apologized to them and questioned the premise of the hearing, the... More »

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Congress • Citigroup • executive compensation • Bank of America • Merrill Lynch • Countrywide • bonuses • Charles Prince • Angelo Mozilo • Stanley O'Neal • financial institutions • subprime crisis • House Committee on Oversight and Government Reform

Investors Angered as WaMu Shields Exec Bonuses

Bank's board of directors extracts subprime losses from bonus formula

Mar 5, 08 8:53 AM CST
(Newser) - Washington Mutual’s directors have decided to limit the hit its executive management team can take from the subprime credit fiasco, setting cash bonus targets that exclude costs from foreclosures and mortgage-related losses, reports the Wall Street Journal. The move angered some shareholders who’ve seen their investment shrink... More »

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executive compensation • housing market • shareholders • Washington Mutual • bonuses • WaMu • subprime crisis

Goldman Sachs Awards CEO $68M Bonus

Blankfein nets huge payday after bank avoids subprime tank

Dec 21, 07 8:07 PM CST
(Newser) - Goldman Sachs gave CEO Lloyd Blankfein a $67.9 million bonus for 2007, believed to be one of the largest such payouts in history, MarketWatch reports. The bonus includes $26.8 million in cash and $41.1 million in stocks. Goldman succeeded this year while rivals foundered in the subprime... More »

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Wall Street • Goldman Sachs • CEO • Morgan Stanley • bonuses • Lloyd Blankfein • investment banks

Vatican Offers Earthly Rewards

Employees get new corporate-style bonus system

Nov 23, 07 6:35 AM CST
(Newser) - The Vatican is offering corporate-style performance bonuses to its workers for the first time, the Times of London reports. Pope Benedict XVI is offering rewards based on "dedication, professionalism, productivity and politeness." The conditions will apply to the thousands of lay workers who do everything from run Vatican... More »

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Pope Benedict XVI • Vatican City • Catholic Church • Vatican • Popemobile • bonuses

Goldman Leads Wall Street Bonus War

Under pressure to
keep talent, losing
firms shell out big

Nov 19, 07 11:56 AM CST
(Newser) - The Big Five Wall Street securities firms will pay $38 billion in bonuses this year—up from $36 billion last year—while shareholders tote up $74 billion in losses, their worst year since 2002, Bloomberg reports. All but Goldman Sachs lost more than 20% of their market value, says an... More »

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Wall Street • Goldman Sachs • Morgan Stanley • Bear Stearns • Merrill Lynch • Lehman Brothers • investment bankers • bonuses

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