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No cash bonus for Goldman Sachs
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  1. #1
    vrrrrrrrrrrrooooooom Administrator bugzy's Avatar
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    No cash bonus for Goldman Sachs

    Top 30 at Goldman Will Get Stock, Not Cash, as Bonus - NYTimes.com

    i like it ... they giving out "special stocks" instead of cash bonus

    i have no idea what that means exactly, but i like the idea

    id guess something like a 3 yr til vesting into the bonus would be better than straight cash ... or at least anything that is better than straight cash bonus

    bold move Mr Blankfein
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  3. #2
    SoCalEuro Member
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    Re: No cash bonus for Goldman Sachs

    So essentially he's binding all the head honchos into the company with him by giving them situational shares.. you fuck up or leave, we take away your bonus.

    Cruel move on his part in my eyes, but those guys are probably raking in multimillions anyways, this is probably just pocket change for them.

  4. #3
    vrrrrrrrrrrrooooooom Administrator bugzy's Avatar
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    Re: No cash bonus for Goldman Sachs

    Quote Originally Posted by Rhynolite View Post
    So essentially he's binding all the head honchos into the company with him by giving them situational shares.. you fuck up or leave, we take away your bonus.

    Cruel move on his part in my eyes, but those guys are probably raking in multimillions anyways, this is probably just pocket change for them.
    well, my comment was a suggestion/inference

    i dont know what they mean by "special stocks"

    but i think that would be cool idea
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  5. #4
    The Italian Job Moderator FunkTron's Avatar
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    Re: No cash bonus for Goldman Sachs

    I applaud it. Basing a persons bonus based on company performance is good in that it puts incentive on EVERYONE doing well.
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  6. #5
    SoCalEuro Member
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    Re: No cash bonus for Goldman Sachs

    Quote Originally Posted by bugzy View Post
    well, my comment was a suggestion/inference

    i dont know what they mean by "special stocks"

    but i think that would be cool idea
    This year, he and other top executives will receive bonuses in the form of what Goldman called “shares at risk,” or stock that cannot be sold for five years and can be retracted if the executive does something reckless or risky that hurts the firm.
    AKA "you're with us for at least another five years or we'll find a reason to revoke your bonus"

    Quote Originally Posted by FunkTron
    I applaud it. Basing a persons bonus based on company performance is good in that it puts incentive on EVERYONE doing well.
    I agree in general, but Goldman can pretty much control how well their company/stock is doing from day to day by releasing some random announcements. They have enough smart accountants in there to get their profit figures and costs to wherever they want them to be.

  7. #6
    Northwestern Ambassador Administrator madajb's Avatar
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    Re: No cash bonus for Goldman Sachs

    Being rewarded for taking taxpayer money to save your own ass.

    Yup, it's the American Dream in action.

    -ajb



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