Author Topic: $15 M pay for Goldman exec.  (Read 560 times)

Adios

  • Deserved It
  • ****
  • Posts: 96724
    • View Profile
$15 M pay for Goldman exec.
« on: January 29, 2011, 08:27:11 pm »
Wall Street firm Goldman Sachs Group has tripled the base salary of chief executive Lloyd Blankfein to $2m (1.3m), up from $600,000.

And company filings show he was also awarded shares currently worth $12.6m, a 42% hike from the the stock bonus he received for 2009.

It comes even after the bank's profit fell 38% in 2010 to $8.35bn.

Banks were pressed to reduce bonuses in 2009 after the 2008 global economic collapse, largely blamed on bankers.

The financial system had been rescued by more than a trillion dollars of support from the US government, and there was public outrage from Main Street at the sums of money Wall Street bankers were being paid in salaries and bonuses.

But now bonuses for top executives for 2010 appear to be creeping higher again.

Last week Citigroup chief executive Vikram Pandit got a $1,749,999 pay rise days after the bank reported its first full-year profit since 2007.
http://www.bbc.co.uk/news/business-12316309

Well, glad he got that worked out.  :argh!:

Phox

  • Deserved It
  • ****
  • Posts: 95697
    • View Profile
Re: $15 M pay for Goldman exec.
« Reply #1 on: January 29, 2011, 09:15:59 pm »
Wall Street firm Goldman Sachs Group has tripled the base salary of chief executive Lloyd Blankfein to $2m (1.3m), up from $600,000.

And company filings show he was also awarded shares currently worth $12.6m, a 42% hike from the the stock bonus he received for 2009.

It comes even after the bank's profit fell 38% in 2010 to $8.35bn.

Banks were pressed to reduce bonuses in 2009 after the 2008 global economic collapse, largely blamed on bankers.

The financial system had been rescued by more than a trillion dollars of support from the US government, and there was public outrage from Main Street at the sums of money Wall Street bankers were being paid in salaries and bonuses.

But now bonuses for top executives for 2010 appear to be creeping higher again.

Last week Citigroup chief executive Vikram Pandit got a $1,749,999 pay rise days after the bank reported its first full-year profit since 2007.
http://www.bbc.co.uk/news/business-12316309

Well, glad he got that worked out.  :argh!:
Back to this shit? well, America, hope you're happy. This is what you asked for.  :lulz:

Dean

  • Known & Noted
  • **
  • Posts: 769
  • Dean the Idle
    • View Profile
Re: $15 M pay for Goldman exec.
« Reply #2 on: February 09, 2011, 04:42:18 pm »
Perhaps everyone knows that he is going to retire next year, so they are doing this instead of cutting a billion dollar severance package.