Hmmm...I’m not one to complain about bonuses, but the share prices of all these companies have decreased. Shareholder value is the number one purpose of a publically traded
As an investor in some of them, and a Morgan Stanley client, I’m annoyed.
BTW...I own a small (15 persons) business. We gave our employees over a $1000 each for Christmas, before we even looked at bonuses for the officers.
Here’s the REAL story: Many on Wall Street have become LIBERALS...easy money often begets Liberal Guilt. I’m more annoyed that a bunch of elite Democrats are getting bonuses while their shareholders suffer.
Not so, my friend.
The Dow is up 8% year-to-date, and NASDAQ is up 10% year to date.
CNBC, the main financial news source in the country, has been trying to push the economy into recession the past three years, even longer.
Yet employment remains at record highs. Corporate profits remains at record highs.
Personal and family income just hit record highs, and the Gross National Product GNP just came in at a 4.9% growth rate, and will probably be revised upwards as it has in most quarters the past few years.
Consumer and retail spending in November had the best month in four years, and set another record.
Exports and imports are growing exponentially, bringing with it profits for millions of Americans.
Did Morgan Stanley or Merrill Lynch or CitiGroup have good years? Nope.
But relatively speaking, they are a small segment of the economy.
Thank heavens the Fox News Network has started a competitive finance channel to rebutt CNBC with some fair and balanced economic news showing the economy is OK, and NOT in depression like CNBC implies day after day.
In the 1990s, liberal oriented CNBC did pie-in-the-sky fantasy stories month after month after month, thereby pushing investors to believe the Clinton economy was fabulous, when it in fact was built on phantom earnings from AOL, Lucent, Juniper, Microsoft, Cisco, Global Crossing, and dozens of other companies whose market value was in the billions yet they were running red ink year over year over year.
When a company give a bonus to employees, that is a good thing.
One always has the option of selling their stock, or quitting if they don't like the 'private' decisions made by private capitalist companies.