- Feinberg to Review Pay at Bailed-Out Firms
- Few Fled Companies Constrained by Pay Limits
- Family bonus(es) plan
- Big Clients Keep Their Head Start
Feinberg to Review Pay at Bailed-Out Firms – Wall Street Journal
The U.S. pay czar will review executive compensation at Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Morgan Stanley and 416 other firms that took government bailout funds, to determine if compensation paid during the height of the financial crisis should be returned, according to government officials…..
Mr. Feinberg “could push for renegotiation, but he has no legal basis to do so,” said one Wall Street official, who still worried that Mr. Feinberg could pick out individual pay contracts and publicly criticize them unless the firms involved would agree to lower the pay retroactively…..
Few Fled Companies Constrained by Pay Limits – NY Times
For months, Wall Street banks and the troubled automakers feverishly protested that their top executives would flee if they were not lavishly rewarded for their talents. New data, however, suggests the departures were more of a trickle than a flood…..
Family bonus(es) plan – NY Post
Less than two years after graduating from Harvard University, Lloyd Blankfein’s son, Alex, fetched a hefty $155,000 in compensation last year, according to a filing from Goldman Sachs, for his work in cross-asset sales, or selling various products to clients.
For someone who graduated in 2008, that’s not too shabby, especially considering the average salary for a recent college graduate in 2009 was about $49,000, according to the National Association of Colleges and Employers.
Blankfein’s other son, Jonathan, who is expected to graduate from Harvard this spring, is also likely to find himself doing pretty well when he joins the firm this summer as part of Goldman’s new crop of analysts…..
Big Clients Keep Their Head Start – NY Times
….Here’s what happened: A while ago, a group of banks sued a Web site called theflyonthewall.com to prevent the site from publishing news headlines about their stock upgrades and downgrades. Last week, Judge Denise Cote, of the United States District Court in New York, ruled in favor of the banks. The decision could have big implications for who gets Wall Street’s hottest tips, and when…..
While the ruling applies only to theflyonthewall.com, a small Web site with several thousand subscribers, the decision could presage a larger effort by Wall Street banks to limit the distribution of news about their research….
Tags: Bonuses, Broker research, Compensation, Court decisions, Goldman Sachs, Investment Research; Fair Use, Ken Feinberg, Legal, nepotism, Pay czar, TARP
