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  1. #1
    Piggybank Cop's Avatar
    Piggybank Cop is offline Nobody important.
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    So what was your Christmas bonus?

    Goldman CEO's $53.4M Bonus Breaks
    All Associated Press NewsNEW YORK (AP) - John Mack's record for the biggest bonus ever paid to a Wall Street chief executive didn't last even a week. It was smashed by the $53.4 million that Goldman Sachs gave its chief executive, Lloyd Blankfein.

    The bonanza for Blankfein included a cash bonus of $27.3 million, with the rest paid in stock and options. He took the helm of the investment bank in June after President Bush nominated Henry Paulson to be Treasury secretary.

    Related newsDow Down 7 on Lackluster FedEx ForecastPremarket Movers: Kosan, Altus rallyWall Street to Get More Inflation DataMorgan Stanley CEO awarded bonus of about $40 mlnLate selloff sinks record hopes
    The record payday, disclosed by Goldman Sachs Group Inc. in a filing with the Securities and Exchange Commission on Tuesday, breaks the one set just last Thursday when Morgan Stanley disclosed that it paid CEO Mack $40 million in stock and options. Mack, who is 62, rejoined Morgan Stanley 18 months ago to turn around the company after the ouster of Philip Purcell. Mack's short-lived record bested one set in 2005 by Goldman's Paulson, who was given $38.3 million.

    Blankfein's bonus reflects the street's -- and Goldman's -- very profitable results this year, Worth magazine Editor in Chief Dwight Cass said.

    "Blankfein's traders -- his background is trading, not investment banking -- were the main drivers behind Goldman's increase," Cass said. "But this was an easy year to make money. Markets rallied, volatility was low, LBO (leveraged buyouts) deals kept the debt markets roiling, hedge funds continued to make prime brokerage a big winner."

    Other than Blankfein, 11 other senior Goldman executives as a group were granted slightly more than $150 million in shares and stock options, according to filings submitted by the companies to the Securites and Exchange Commission on Tuesday. The highest paid among those were Gary Cohn and Jon Winkelried, who both hold the titles of president and chief operating officer. They each received $25.6 million in shares and options in 2006.

    Any cash bonuses for the other executives were not mentioned in the filings.

    The bonuses come after Goldman reported last week that it had earned the highest yearly profit in the history of Wall Street. Net profit rose 70 percent to $9.4 billion on revenue of $37.67 billion. Goldman and other firms have benefitted from a surging market for takeovers and a strong stock market.

    Goldman said last week it had set aside a total of $16.5 billion this year for salaries, bonuses and benefits. On average, this would translate to $622,000 per employee.

    The bonuses come in a year in which Goldman shareholders have benefitted from a rise of about 58 percent in the company's share price, the strongest returns of any Wall Street investment house.

    Lehman Brothers Holdings Inc. and Bear Stearns Cos. have said they would pay about $12 billion in compensation each. Lehman said last week it paid its chief executive, Richard Fuld, $10.9 million in stock this year.

    The trend in compensating executives has been to keep salaries level while increasing bonuses. The highest-paid executives in the country earned 48.2 percent more in bonuses and 31.2 percent more in cash, according to the Executive Compensation Index done by ERI Economic Research Institute and CareerJournal.com as of last month. It compared year-over-year numbers, and in the same period, salaries fell by 0.31 percent.

    Shares of Goldman rose 13 cents, or 0.06 percent, to close at 201.37 on the New York Stock Exchange.

    We are the thin blue line
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    And no you can't have any.

  2. #2
    TXCharlie's Avatar
    TXCharlie is offline Former & Future Reserve Officer
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    In our little start-up company, we're lucky if our checks don't bounce... In fact a couple of payroll checks did bounce last week. They covered them, but not a good sign.

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  3. #3
    Crimebytes2's Avatar
    Crimebytes2 is offline Banned
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    My bonus? No pink slip!

  4. #4
    Retmilleo909 is offline Banned
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    Bonus!!!...What's a bonus ??

  5. #5
    Jackalope's Avatar
    Jackalope is offline Yell O
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    I'm supposedly supposed to get a bonus, but the boss hasn't finished cooking the books yet. I'll probably get it after Christmas.
    "I'm not a coward,
    I've just never been tested
    I'd like to think that if I was,
    I would pass"
    ~Mighty Mighty Bosstones~

  6. #6
    Willowdared's Avatar
    Willowdared is offline Bendy not Breaky
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    A pocket planner/calendar
    Molly Weasley makes Chuck Norris eat his vegetables.

    Do not puff, shade, skew, tailor, firm up, stretch, massage,
    or otherwise distort statements of fact.
    FBI Special Agent Coleen Rowley

  7. #7
    Welpe's Avatar
    Welpe is offline Wannabe NFL Ref
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    Passing grades.
    "To the German commander: 'Nuts!' The American Commander" - General Tony McAuliffe, 101st Airborne Division

  8. #8
    mavriktu's Avatar
    mavriktu is offline Patrol Sgt.
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    A buck two ninety five pocket knife

  9. #9
    ida40dj's Avatar
    ida40dj is offline Officer First Class
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    a 10.00 gift certificate at a local grocery store for a turkey.
    Don't sweat the petty things, and don't pet the sweaty things!

  10. #10
    CountyFourteen's Avatar
    CountyFourteen is offline Sergeant
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    yea we got a calendar too, and a $50 gift card to Bilo's (food store)
    Any Post I make is my opinion only!
    I do not have the authority or the permission to post for my Sheriff's Office.



  11. #11
    TacticalII's Avatar
    TacticalII is offline Member
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    We get a $30 gift card to a local grocery store (which they add to our check and tax). All other city employees get a $500 check.....

  12. #12
    Virginian's Avatar
    Virginian is offline Major
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    I got a $30 steak and a "Good to see you Matt."

    My name is Dave. Time for a new job.

  13. #13
    carolina's Avatar
    carolina is offline Master Officer
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    Quote Originally Posted by CountyFourteen View Post
    yea we got a calendar too, and a $50 gift card to Bilo's (food store)
    That's what we got, wondering if we work at the same place and they did have lunch catered in for us one day.

    Our calendar has the days were are scheduled to work highlighted next year. Funny thing is working the 12hr rotation schedule it's the only way I know when I'm supposed to work anymore


    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. - Leo Buscaglia

  14. #14
    Jenna's Avatar
    Jenna is offline sheep
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    Quote Originally Posted by Virginian View Post
    I got a $30 steak and a "Good to see you Matt."

    My name is Dave. Time for a new job.
    You need to send them the "These are the Daves I know" video.

    http://www.youtube.com/watch?v=J4kN1Zb35zE

  15. #15
    zap's Avatar
    zap
    zap is offline yeahrightsurewhatever
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    I get to work 6-10p rather than 8-6........
    Stupidity Recognition Technician

  16. #16
    Dudleydoright's Avatar
    Dudleydoright is offline Officer First Class
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    Ha Ha Ha Ha Ha Lol!!!!!!!!!!!!!!!!

    Christmas Bonus

    Ha Ha Ha Ha Ha!

  17. #17
    Ducky's Avatar
    Ducky is offline Enforcer General
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    MrDucky - $15 gift card to Target.
    The CEO of the company MrDucky works for has a $3 MILLION GUARANTEED bonus every year for five years.
    \\
    ` ` ` ` < ` )___/\
    `` ` ` ` (3--(____)
    "...but to forget your duck, of course, means you're really screwed." - Gary Larson
    http://www.youtube.com/watch?v=MtN1YnoL46Q


  18. #18
    TXCharlie's Avatar
    TXCharlie is offline Former & Future Reserve Officer
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    Quote Originally Posted by Ducky View Post
    MrDucky - $15 gift card to Target.
    The CEO of the company MrDucky works for has a $3 MILLION GUARANTEED bonus every year for five years.
    Mr. Ducky is so lucky to be working for such a generous boss

    He should send him a $5 Thank-You card, and put this at the bottom:
    "PS - This card is one-third of our Christmas Bonus, but I could not contain my deep appreciation for your generosity. I think I'll use it to take the family out to Target's deli and buy them all a hot dog with no drink for Christmas dinner. Yippee."
    PS - I would send it anonymously if I were you.
    Last edited by TXCharlie; 12-21-06 at 03:31 PM.

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  19. #19
    mtncat is offline Rookie
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    Have not seen one this year yet but last year got a really nice, big, spiral cut ham, the daughter and I both got little digital picture frames that hold about 10 pictures and then the boss gave me his private land elk permit

  20. #20
    armygrnt502's Avatar
    armygrnt502 is offline Making my streets safer, one day at a time
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    Bonus...are we supposed to get one of those?

    "Bonus..we dont need no stinkin bonus!!"
    "Sometimes people need a little help. Sometimes people need to be forgiven. And sometimes they need to go to jail."


 

 
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