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Goldman Sachs Awards Bonuses in Stock. Another Smart Move by the Squid.
1 hour, 7 minutes ago ago from Business Pundit
Instead of year-end cash bonuses, Goldman Sachs is awarding its 30 top executives with stock. The stock can't be cashed for five years. Bloomberg ( via BusinessWeek ) has the details: The award will be comprised of so-called shares-at-risk, allowing the firm to take them back if it determines that the executive failed to adequately analyze or raise concern about risks, the New York-based company said in a statement today. The firm also will ...
Related contentGoldman Caves! [Wall Street]
2 hours ago ago from Cityfile.com - Dailyfile
Goldman Sachs is giving in, believe it or not. The bank announced this morning that it plans to change up the way it compensates its top 30 execs this year, as the fury over outsized pay packages continues to grow. Goldman says it will now pay out the bonuses in the form of restricted stock, a move that will likely gratify Goldman's critics and also terrify high-end real estate brokers and Porsche salesmen in the Hamptons. [ NYT ]
Related contentGoldman Not Preparing for Revolution, After All [Wall Street]
21 hours ago ago from Cityfile.com - Dailyfile
Last week, Bloomberg News columnist Alice Schroeder suggested that panicky Goldman Sachs bankers were loading up on firearms in the event a populist uprising broke out. But that's not the case, you'll be relieved to hear: New York police spokesman Paul J. Browne says that their records show only four Goldman employees have applied for gun permits in recent years and the last application was made in 2003. That application, by the firm's head ...
Related contentLogica (UK) upgraded by Goldman Sachs
22 hours ago ago from forex Finance - finance
Logic, British IT services company , remains in the spotlight today, after Goldman Sachs raised its rating on the title to market outperformer from above market performer . The earnings estimates remain unchanged, as its price target to 792 pence. Right now, Logica is giving 1 .8% to 647 pence on the London Stock Exchange .
Related contentGoldman Sachs to give all 2009 bonuses in stock - AFP
11 hours ago ago from Stock Strategy Trading
AFP Goldman Sachs to give all 2009 bonuses in stock AFP NEW YORK — US investment giant Goldman Sachs said all 2009 bonuses for top executives would be in the form of restricted stock instead of cash under a new Goldman Bows to Pressure; Makes Changes to Compensation Wall Street Journal (blog) Pay Scandal Can Be Fixed By Total Overhaul Of Compensation On Wall Street Portfolio.com all 143 news articles ...
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Goldman Alters Bonus Policy to Quell Uproar
1 hour, 40 minutes ago ago from The New York Times
Moving to quell the uproar over the return of big paydays on Wall Street, Goldman Sachs announced on Thursday that its top executives would forgo cash bonuses this year and that it would give shareholders a say in determining compensation. Suzanne DeChillo/The New York Times Lloyd C. Blankfein, chief executive of Goldman Sachs, instituted the new executive compensation system, which emphasizes pay in stock. With a ...
Related contentGoldman Bows to Pressure Over Pay
2 hours ago ago from Wall Street Journal
Goldman Sachs Group Inc. on Thursday said its top 30 executives won't receive a cash bonus for 2009 as the Wall Street bank bows to public pressure about runaway compensation packages. The move approved by Goldman's board is an attempt to quell public criticism about multimillion-dollar bonus packages expected to be doled out this year. The firm's 31,000 employees are on track to earn an average of more than $700,000 apiece this year, the ...
Related contentThe dollar, despite widespread pessimism, could stage a sharp rally
1 hour, 33 minutes ago ago from DailyFinance
A few years ago, ever rising home prices seemed like a sure bet. Today, Wall Street is betting on a weak dollar. But investors would be wise to consider what would happen if the conventional wisdom were to fall short yet again and the greenback staged a turnaround. While some giant fund managers say that the dollar has no place to go but down thanks to record deficits, a handful of investors with a knack for going against the grain have ...
Related contentS&P raises market cap levels for major indices
21 hours ago ago from U.S. News
S&P raises market cap levels for major indices NEW YORK (AP) -- Ratings service Standard & Poor's on Wednesday set new market capitalization levels companies must meet in order to be listed on its U.S. indices. To be listed on the S&P 500, a company's total market capitalization - the total dollar value of outstanding shares - must be $3.5 billion or greater. Companies with market caps of $850 million to $3.8 billion may be listed on the ...
Related contentCramer on BloggingStocks: Buy Citi on the deal
6 hours ago ago from BloggingStocks
From TheStreet.com Network Should Citigroup Rush to Repay TARP? Citigroup Reportedly Prepping Equity Raise TheStreet.com's Jim Cramer says this one'll make you a bundle by 2012. Buy Citigroup ( C ) ( Cramer's Take ). No, not in the open market, but on the deal or deals, depending upon how heavy-handed the government's going to be. I initially recommended this stock in the low $3s and saw it go to $5, where I begged the government ...
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