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Thread: Goldman Sachs CEO, six leaders give up 2008 bonuses

  1. #1
    Elite Member celeb_2006's Avatar
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    Default Goldman Sachs CEO, six leaders give up 2008 bonuses

    (not that impressive as it seems when you read about it, not like giving up the bonuses is some form of noble endeavour when they already received insane amounts previous years, not to mention making a salary that is like a gazillion times more than what the average joe makes in 20 years)

    Goldman Sachs CEO, six leaders give up 2008 bonuses - Yahoo! News

    WASHINGTON (AFP) Goldman Sachs CEO Lloyd Blankfein and six company leaders have renounced their 2008 bonuses, a company spokesman said Sunday.
    Blankfein and the other company directors requested the company's central committee in charge of bonuses not to make the payments due to the company's poor performance in 2008. Their request was accepted, the spokesman told AFP.
    "This decision applies to seven top executives," he said.
    "The fiscal year is not ended. For other executives, the compensation will be determined by what the company earns," the spokesman added.
    The investment bank's 2008 cycle ends in November.
    In 2007, despite a looming subprime mortgage crisis, Blankfein received a Wall Street record-setting 68 million dollar bonys payment. His annual salary is 600,000 dollars.
    In September, after third-quarter profits (845 million dollars) dipped 70 percent from one year earlier, Goldman Sachs converted to a bank-holding company allowing it to dip into the Federal Reserve's bailout plan for commercial banks.
    At Monday's New York Stock Exchange closing, Goldman Sachs closed at 66.73. It has lost 70 percent of its value since the start of the year.
    At the end of October, Goldman received 10 billion dollars from US government in return for a part of its capital, as part of the bailout plan of Treasury Secretary Henry Paulson, a former Goldman CEO.
    The plan called for restrictions to bonus payments to CEO.

  2. #2
    Elite Member greysfang's Avatar
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    Is that supposed to make us feel better about them wasting all our money and then taking our taxes to cover it.? Too little too late, bitches.
    FUCK YOU AND GIVE ME MY GODDAMN VENTI TWO PUMP LIGHT WHIP MOCHA YOU COCKSUCKING WHORE BEFORE I PUNCH YOU IN THE MOUTH. I just get unpleasant in my car. - Deej

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    Friend of Gossip Rocks! buttmunch's Avatar
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    They forgot to mention that giving up their bonus was part of the bailout deal but it didn't include forgoing giving a bonus to their supposed 'top performers'. Wait and see how much the twenty underneath these six get.
    'Those who sacrifice liberty for security deserve neither.' Ben Franklin

    "When fascism comes to America, it will be wrapped in the flag and carrying the cross."
    --Sinclair Lewis

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