AH, BONUS DAY. It’s that magical time of year when the world’s most widely-reviled financial institutions dole out the real money, not this ridiculous salary nonsense the rest of us peons get. That day, for Goldman Sachs, is today. And it is Not. Going. Well. Read More
Lloyd Blankfein, the CEO of Goldman Sachs, faced a handful of critics and cranks during the firm’s annual meeting in Jersey City last week. He did his best to deal with the uninformed complaints of those who think they understand how the free market works, but who actually haven’t a clue.
Mr. Blankfein recently received Read More
The unions representing rank-and-file firefighters and police officers are none too pleased with Mayor Bloomberg these days, and perhaps that’s to be expected. The mayor wants to eliminate a $12,000 bonus paid out to about 50,000 retirees every year at the end of December. Union leaders Stephen Cassidy of the Uniformed Firefighters Association and Patrick Read More
Goldman Sachs is doling out midyear bonuses to around 100 London-based partners in the form of stock compensation, The Wall Street Journal reports.
The move is apparently part of an effort to counter a drain of talent from the investment bank after the U.K. implemented a 50 percent tax on bonuses of more than Read More
Every two years, purported vampire squid Goldman Sachs (GS) rifles through a list of its most vampiric and squidlike employees and decides which of them will be chosen to join its elite class of “partners,” the Goldmanites who make the most money and have an inside edge for the firm’s top jobs. Partnership means Read More
Wary of the possible expiration of the Bush-era tax cuts, the heads of some Wall Street firms are trying to shovel some money into their employees’ pockets before Uncle Sam or other governments can take a bigger bite, The Wall Street Journal reports.
Credit Suisse, for example, told its London managing directors last week that they’d Read More
There have been rumors all week that something interesting is coming tomorrow from Kenneth Feinberg, who steps down as the so-called Pay Czar next month (because the president put him in charge of BP’s $20 billion compensation fund).
Thanks to the Journal‘s Deborah Solomon, we know a little more about Friday’s surprise, and it Read More
On a recent drizzly Sunday afternoon, a 29-year-old New York banker was sitting in a West Village cafe, eating biscotti with a mocha cappuccino and a glass of grapefruit juice. “I want to retire early and maybe do something else,” he sighed.
“My premium years were spent working very, very hard because of the Read More
