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Compensation | I Am So Annoyed

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Merry Christmas, for some

Saturday, December 26th, 2009   6:03 am | Author: chris | Economy, Money, Politics/Government | Add Comment
Tags: , ,

While many are out of jobs or struggling to make ends meet some are raking it in.


In the last few months we have heard over and over again how the financial institutions that were on the brink of collapse decided to reward top executives with huge bonuses worth million of dollars.


The good times also apply to Fannie Mae and Freddie Mac who were in the middle of the mortgage mess. Both mortgage finance giants have been under government control since last year.


According to CNN Money:


“Fannie Mae CEO Michael Williams, who was promoted to CEO on April 21, will receive about $4.2 million in base salary and deferred cash payments for his time in the top job. The filing does not detail how much he was paid for his time as chief operating officer before his promotion, or what he will earn in 2010.”


“David Johnson, the chief financial officer and No. 2 at ..continue reading

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Someone explain this to me

Wednesday, July 15th, 2009   6:58 am | Author: Frank Richardson | Economy, Money, Politics/Government | 2 Comments
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Yesterday Goldman Sachs announced much better than expected quarterly earning of $3.44 billion. The Company also announced that it is setting aside $11.36 billion for its compensation pool through mid 2009 which includes annual bonuses. That works out to nearly $400,000 for each of its 29,400 employees and temporary workers. Of course this will not be evenly distributed. The bulk will wind up with top management.  Last year at this time the compensation pool was $8.52 billion. this year’s compensation pool is almost the same as in mid 2007 when the market was still booming.  Goldman’s net revenue is approximately 31% above where it stood in 2008.


While every company is entitled to make a profit and compensate its employees it is disturbing to see Goldman act with little restraint.


We have seen the biggest meltdown in decades. We are not out of the woods and most likely not even close to the ..continue reading

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