Goldman bonuses

11 Stories

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 »

Nuns Rap Goldman Sachs Fatcats for Pay

After Lloyd Blankfein's compensation almost doubles to $19M

(Newser) - Lloyd Blankfein’s salary nearly doubled in 2010 to a total of around $19 million—and the Catholic church isn’t happy about it. Four orders of nuns that invest with Goldman Sachs have all signed on to a proposal demanding the bank review its compensation policy, the Guardian reports.... More »

Average Goldman Pay for 2010: $430K

Numbers lower than expected as revenue drops

(Newser) - Goldman Sachs employees will receive lower-than-expected average pay of $430,700 this year, 14% less than last year’s average of $498,246, Bloomberg reports. Estimates prior to the release of the numbers pinned the figure around $450,000, according to the Independent . The bank’s compensation and benefits expense,... More »

Shareholders Sue Goldman Sachs for Overpaying Execs

Union seeks to claw back from 'vastly overcompensated' honchos

(Newser) - Shareholders are losing out because Goldman Sachs executives are "unreasonably overpaid," a lawsuit filed by a union pension fund charges. The suit from the International Brotherhood of Electric Workers fund seeks to block Goldman from spending almost half of its net revenue on executive compensation and to recover... More »

Obama OK With Fat Bonuses for Blankfein, Dimon

Compares bank CEOs to overpaid baseball players

(Newser) - Barack Obama says he’s down with the combined $26 million in bonuses that the CEOs of Goldman Sachs and JPMorgan are getting paid this year. “I know both those guys; they are very savvy businessmen,” Obama tells Bloomberg. “I, like most of the American people, don’... More »

Goldman's Lloyd Blankfein 'Expecting $100M Bonus'

CEO 'thumbing his nose' at Obama's call to limit payouts

(Newser) - Goldman Sachs is preparing to defy President Obama's tough talk on executive bonuses and award chief executive Lloyd Blankfein a whopping $100 million, according to bankers at the World Economic Forum. "This is Lloyd thumbing his nose at Obama,” a banker at one of Goldman’s rivals tells... More »

Goldman May Force More to Donate to Charity

Face-saving program would be similar to 4% rule at Bear Stearns

(Newser) - As Goldman Sachs prepares to lavish spectacular bonuses on employees this month—based on record profits of about $12 billion for 2009—the investment bank is mulling a face-saving program that would require more employees to donate to charity. Goldman already has such a program, which targets about 400 top-earners.... More »

Fund Sues Goldman Sachs Over Bonuses

Cop, firefighter pension group seeks to halt $22B payout

(Newser) - A pension fund investor is taking Goldman Sachs to court over bonuses it says has nothing to do with employee merit. The suit filed by the Security Police and Fire Professionals of America Retirement Fund accuses the company of preparing to "blindly" hand out $22 billion in bonuses, Reuters ... More »

Goldman Won't Dole Out Cash Bonuses

Top execs will get stock that can't be cashed for five years

(Newser) - No cash bonuses for top Goldman Sachs executives this year. Instead, the Wall Street giant will pay its 30 top execs bonuses in the form of restricted stock that can't be cashed for five years. And the company can get the shares back if the performances they were based on... More »

Goldman Hustles Investors on Soaring Bonuses

Bank privately meeting with large shareholders to shore up support

(Newser) - Goldman Sachs has been holding private meetings with its top shareholders in an effort to stave off proposals that would reign in its ginormous bonuses. It’s a first for Goldman, which normally doesn’t feel compelled to justify its pay, no matter the public outcry. But shareholders have the... More »

Goldman Bonuses Irk Investors, Too

Shareholders question need for $20B in bonuses

(Newser) - With Goldman Sachs on course to hand out the highest bonuses in its history, it's not only furious populists who are complaining; investors, too, are getting into the act. Major shareholders, who have stayed out of the executive compensation controversy until now, are calling for the bank to cut back... More »

11 Stories