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Keyword: bonus

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  • Obamacare Employees Behind Failed Oregon Exchange Now Getting Cushy Bonuses

    06/25/2014 2:34:04 AM PDT · by Libloather · 6 replies
    Daily Caller ^ | 6/24/14 | Sarah Hurtubise
    Now that Oregon’s Obamacare exchange has entirely given up on fixing or running its own Obamacare website, the state exchange is handing out hundreds of thousands of dollars in taxpayer funding as bonuses to employees that stick around until the federal government takes over. “Many of the employees who voluntarily left Cover Oregon had key skills that are not easily replaced both in IT and in health care laws and regulations,” interim director Clyde Hamstreet wrote to the exchange’s board, Oregon Live reports. “We cannot afford to keep losing valuable employees if we are to complete the workload for the...
  • VA Hospital Director Where 40 Died Received Bonus Last Month

    05/21/2014 1:40:11 PM PDT · by Nachum · 20 replies
    Free Beacon ^ | 5/20/14 | staff
    The director of the Phoenix VA hospital received an $8,500 pay bonus last month even as allegations of 40 deaths resulting from excessive wait times for care were being investigated, according to the Weekly Standard. VA Secretary Eric Shinseki is reportedly responsible for signing off on performance ratings and rewards, but the department’s chairman Jeff Miller said the bonus was the result of “an administrative error.” The Weekly Standard reports: Sharon Helman, the director of the Phoenix Veterans Affairs Health Care System, ”got an $8,500 bonus last month while there was an open [inspector general] investigation into Phoenix,” Chairman Miller...
  • The IRS bonus scandal demonstrates that it's time for the GOP to wake up and run against the IRS

    04/23/2014 7:28:03 AM PDT · by SeekAndFind · 18 replies
    American Thinker ^ | 04/23/2014 | Thomas Lifson
    The partisan bureaucrats at the IRS who were ready and willing to harass conservative groups are just the tip of the iceberg at a corrupt and irresponsible agency that just happens to be the most unpopular and feared arm of the federal government. So self-serving is the agency that it actually paid bonuses – many bonuses – to employees who were delinquent in their own taxes. Gail Sullivan of the Washington Post reports: A report from the Treasury Inspector General for Tax Administration shows that between Oct. 1, 2010, and Dec. 31, 2012, the IRS paid $2.8 million in bonuses to employees...
  • IRS Workers Disciplined For Misconduct Were Awarded Bonuses

    04/22/2014 6:27:09 PM PDT · by SeekAndFind · 28 replies
    Wall Street Journal ^ | 04/22/2014 | John D. McKinnon
    More than 2,800 Internal Revenue Service employees who recently had been disciplined received performance bonuses totaling more than $2.8 million between Oct. 1, 2010 and Dec. 31, 2012, a government audit found. The misconduct ranged from failure to pay taxes to misuse of government travel cards, violation of official-conduct standards and fraud, according to the report by the Treasury Inspector General for Tax Administration. The discipline included written reprimands, suspensions and even removal. The oversight agency said some of the conduct issues might have occurred after an employee earned a bonus. While the IRS doesn't prohibit bonuses, "providing awards to...
  • 481 Barclays Employees Were Paid Over 1 Million Pounds In 2013, Despite Losses, Mass Layoffs

    03/05/2014 9:30:05 AM PST · by SeekAndFind · 42 replies
    Zero Hedge ^ | 03/05/2014 | Tyler Durden
    It was less than a month ago when Barclays announced it would fire 12,000 workers after posting abysmal earnings with Q4 banking income crashing 37% and overall income sliding 9%. So, one would think, its employees would be punished with lower pay - those that are lucky enough to keep their jobs of course. One would be wrong. Reuters just reported that 481 of Barclays employees were paid 1 million pounds ($1.7 million) or more last year, 53 more than in the year before, and most of them were based in the United States.The headscratcher continues: Barclays said 57...
  • IRS employees to receive bonuses

    02/04/2014 9:13:46 AM PST · by SeekAndFind · 13 replies
    American Thinker ^ | 02/04/2014 | Rick Moran
    Because they're doing such a great job, right? The Hill: The IRS has given the green light to tens of millions of dollars in employee bonuses, a decision that congressional Republicans immediately rebuked.IRS employees will receive around $43 million in bonuses this spring under an agreement reached with the National Treasury Employees Union, which represents some agency employees.Union officials said that total was well short of the $75 million that the employees were owed under their labor agreement. But in the wake of last year's targeting controversy, Sen. Orrin Hatch (R-Utah) quickly and sharply criticized the decision to give...
  • Obama Dooms Seniors to Ravages of Aging

    01/02/2014 3:01:01 AM PST · by afraidfortherepublic · 51 replies
    Accuracy in Media ^ | 1-2-14 | Betsy McCaughey
    On Oct. 1, 2012 the Obama administration started awarding bonus points to hospitals that spend the least on elderly patients. It will result in fewer knee replacements, hip replacements, angioplasty, bypass surgery and cataract operations. These are the five procedures that have transformed aging for older Americans. They used to languish in wheelchairs and nursing homes due to arthritis, cataracts and heart disease. Now they lead active lives. But the Obama administration is undoing that progress. By cutting $716 billion from future Medicare funding over the next decade and rewarding the hospitals that spend the least on seniors, the Obama...
  • Former Senior EPA Advisor Beale Expected to Plead Guilty in $900,000 Pay Fraud

    09/05/2013 4:16:07 AM PDT · by afraidfortherepublic · 14 replies
    The Washington Post ^ | 9-5-13 | Ann Marimow & Lenny Bernstein
    Over the past 12 years, John C. Beale was often away from his job as a high-level staffer at the Environmental Protection Agency. He cultivated an air of mystery and explained his lengthy absences by telling his bosses that he was doing top-secret work, including for the CIA. For years, apparently, no one checked.
  • IRS Sent $46,378,040 in Refunds to 23,994 ‘Unauthorized’ Aliens at 1 Atlanta Address

    06/21/2013 5:02:33 PM PDT · by smoothsailing · 102 replies
    CNS NEWS ^ | 6-21-2013 | Terence P. Jeffrey
    June 21, 2013 IRS Sent $46,378,040 in Refunds to 23,994 ‘Unauthorized’ Aliens at 1 Atlanta Address Terence P. Jeffrey (CNSNews.com) - The Internal Revenue Service sent 23,994 tax refunds worth a combined $46,378,040 to “unauthorized” alien workers who all used the same address in Atlanta, Ga., in 2011, according to the Treasury Inspector General for Tax Administration (TIGTA).That was not the only Atlanta address theoretically occupied by thousands of “unauthorized” alien workers receiving millions in federal tax refunds in 2011. In fact, according to a TIGTA audit report published last year, four of the top ten addresses to which the...
  • Horrors of austerity: $70 million in bonuses for the IRS

    06/20/2013 5:44:57 AM PDT · by TurboZamboni · 12 replies
    human events ^ | 6-19-13 | john haward
    The funniest thing about the Democrats’ ridiculous “sequester theater,” in which they pretended that increasing government spending by 6 percent instead of 8 percent would leave America in ruins, is that they didn’t waste any effort on maintaining the pretense. Even while they were trying to scare us with the alleged horrors of austerity, the government was throwing big money into various frivolities. Once the sequester drama was over, the champagne corks popped, and the caviar resumed flowing, with breathtaking speed. So, even as the President gears up for a $100 million junket to Africa (hastily cancelling a big Tanzanian...
  • Obama High-Fives IRS with $92 Million in Bonuses

    05/20/2013 7:06:38 AM PDT · by SeekAndFind · 29 replies
    Townhall ^ | 05/20/2013 | Morgan Brittany
    The IRS scandal is becoming more insane by the minute.  After the testimony on Friday from the Inspector General and the now “retiring” acting IRS Commissioner, Steven Miller, things couldn’t be more convoluted.  First of all, Obama came out and said that Treasury Secretary Jack Lew had “demanded the resignation” of Miller, when in fact, Miller was due to leave his post by June of this year.  So there was no “resigning” going on, and he will leave with all of his benefits intact.  Wow!  No accountability, no answers, no penalties. Next we find out that during the four year...
  • Bank Job Cuts, Wall Street Bonuses and Fed Policy: Good Examples of False Recovery

    02/28/2013 8:31:45 AM PST · by SeekAndFind · 3 replies
    Townhall ^ | 02/28/2013 | Matt Towery
    The Wall Street Journal of Feb. 27 tells the story in its own headlines. On page C1, the story was, "JPMorgan Pulls Belt Tight," while on C3 the headline read, "Wall Street's Bonus Pool Hits $20 Billion." If that doesn't describe this crazy false recovery we are allegedly undergoing, nothing does. Of course, the picky can point out that JPMorgan Chase is tightening its belt on its banking side and the Wall Street bonus increases are paid to traders, investment bankers and other employees of securities firms. But to the average Joe, it's hard to understand, if the JPMorgan Chase...
  • Longshoreman strike looms at East and Gulf Coast ports

    12/21/2012 2:10:39 PM PST · by Wisconsinlady · 22 replies
    The container carriers and port operators, represented by the U.S. Marine Alliance, want to cap the royalties at 2011 levels, saying they've morphed into a huge expense, totally unrelated to their original purpose, which hurts the industry's competitiveness as it tries to keep up with new technology. The alliance says the royalty payments now amount to a bonus averaging $15,500 annually for East Coast workers who already earn more than $50 per hour.
  • Hoosier workers to get $111 come tax time

    11/22/2012 6:44:31 AM PST · by KeyLargo · 15 replies
    Northwest Indiana Times ^ | Nov 22, 2012 | Dan Carden
    Hoosier workers to get $111 come tax time 18 hours ago • Dan Carden dan.carden@nwi.com, (317) 637-9078 INDIANAPOLIS | Hoosier income tax payers each will receive $111 next year as Indiana returns a portion of its $2.15 billion budget reserve to its citizens. Gov. Mitch Daniels on Wednesday announced the value of the taxpayer refund created by lawmakers in 2011 to ensure the state's reserve funds never get too big. Under the law, a refund is automatically triggered when the reserve tops 10 percent of the next year's budgeted spending. "Better that these dollars remain in the pockets of the...
  • Losing NY’s golden goose (Wall Street is never bouncing all the way back)

    10/13/2012 10:05:58 AM PDT · by SeekAndFind · 9 replies
    New York Post ^ | 10/12/2012 | Nicole Gelinas
    Five years after the beginning of the financial crisis,” Wall Street “remains in transition,” state comptroller Tom DiNapoli reported Tuesday. The industry is “still working through the fallout from the financial crisis.” No kidding. Yet both the state and city governments, which depend on Wall Street to pay the bills, are still partying like it’s 2007. Unless they sober up soon, they’re in transition to nowhere. At first glance, DiNapoli’s report on Wall Street’s impact on New York seems inconsistent. Wall Street should ink healthy profits this year — $15 billion, or twice last year’s levels. That’s back to where...
  • 80 Wis. soldiers still wait for service benefits

    01/30/2012 1:06:25 PM PST · by afraidfortherepublic · 3 replies
    Dozens of Wisconsin National Guard soldiers are still waiting for thousands of dollars owed to them for their service in Iraq. The delay is due to bureaucratic glitches and clerical errors, the Oshkosh Northwestern reported ( http://oshko.sh/xfjOx5). The soldiers, members of the Wisconsin National Guard 1157th Transportation Co., spent much of 2006 and 2007 in Iraq. When they came home they were due extra pay or days of leave for serving multiple deployments, but some never received what was owed to them because of errors in the way the Army computed and paid the benefits. "It's frustrating," said Richard Vander...
  • Now who’ll pay NY’s bills? (Wall Street Pay/Bonuses are down and the rich are less rich today)

    01/20/2012 4:42:56 AM PST · by SeekAndFind · 11 replies
    New York Post ^ | 01/20/2012 | MEGAN MCARDLE
    After a disappointing year, the big banks are pulling way back on their bonus pools. This is going to be hard on bankers whose salaries are usually a very small part of their overall compensation — and yes, before you drag out the world’s smallest violin, let me agree that they have no entitlement to anything more. But the bankers aren’t the only ones who’ve built their lifestyle around a heavy flow of easy money. Before the financial crisis, the industry payroll accounted for 20 percent of New York state’s tax revenue; it still accounts for about 13 percent, as...
  • Source: Tim Tebow earns $250K bonus (+video)

    01/09/2012 9:53:24 PM PST · by STARWISE · 31 replies
    ESPN ^ | 1-9-12 | Adam Schefter
    *snip* Tebow has an escalator of $250,000 in his contract for each playoff victory assuming he participated in at least 70 percent of Denver's plays during the requisite season, according to an NFL source. Being that he played 73 percent of Denver's plays this season, Tebow cashed in on a quarter-million salary escalator after his latest shocker -- an 80-yard touchdown pass on the first play of overtime Sunday to beat Pittsburgh 29-23 in the wild-card playoffs. The play, according to Twitter, spawned a record 9,420 tweets per second. Tebow could earn another $250,000 with another victory Saturday night at...
  • Goldman Sachs Justifies The Need For More QE3, And Even More Record Wall Street Bonuses

    09/03/2011 7:25:42 AM PDT · by SeekAndFind · 7 replies
    Zero Hedge ^ | 09/02/2011 | Tyler Durden
    We end this busy day of economic buffoonery with Goldman's scorecard for August ("the US economy has not fallen off a cliff", which we translate as a B+, and "far better than expected"), which in turn explains why Goldman, and everyone else, now assumes QE3 (yes, Op Twist is QE3; get over it) is not only a given, but why in Goldman's esteemed opinion, the Fed has at least 3 rationales for pushing for more QEasing. Incidentally, these are as follows: "First, unemployment is far above the Fed’s long-term forecast in the low 5% range; the longer high unemployment...
  • Records: $645K In Bonuses Paid To Schools Named In (Atlanta teacher cheating) Scandal

    08/10/2011 5:17:28 AM PDT · by Libloather · 10 replies
    WSBTV ^ | 8/09/11
    Records: $645K In Bonuses Paid To Schools Named In ScandalRecords Detail Bonuses Paid To APS Staff, Teachers Updated: 6:37 pm EDT August 9, 2011 ATLANTA -- Channel 2 Action News has obtained records detailing bonuses paid to teachers and staff at schools implicated in the Atlanta Public Schools cheating scandal. Channel 2's Tom Regan put in a request for the documents on bonus payments two weeks ago. He received the records on Tuesday and has been poring over the documents. Regan said the documents detail bonuses that were paid out from January 2009 to the present. According to the documents,...
  • Georgia lawmaker wants cheating educators to return bonuses

    07/19/2011 11:42:15 AM PDT · by Libloather · 31 replies
    WRDW ^ | 7/19/11
    Georgia lawmaker wants cheating educators to return bonusesUnder the proposed legislation, any educator found guilty of cheating would forfeit all promised salary increases or bonuses and would have to repay any money handed out based on test results. Updated: 10:33 AM Jul 19, 2011 Reporter: The Associated Press ATLANTA (AP) — **SNIP** State Rep. Billy Mitchell, a Democrat from Stone Mountain, said Monday he plans to introduce legislation that would affect educators who get raises or bonuses for improving students' test scores. Mitchell said he wants to introduce the bill during the special legislative session next month. Under the proposed...
  • The Goldman Sachs Bonus Collapse Is Underway

    07/19/2011 7:37:03 AM PDT · by SeekAndFind · 7 replies
    Business Insider ^ | 07/19/2011 | Katya Wachtel
    Goldman Sachs released some disappointing earnings numbers this morning. In the report were details of the drop in compensation costs. According to the report, compensation expenses -- which includes salaries, bonuses and benefits -- fell to $3.2 billion for the second quarter of 2011. That represents a big 16% decline from this time last year. Compare that to Q1 compensation costs this year, which clocked in at $5.23 billion and was only down 5% compared to Q1 2010.
  • Video: Fannie & Freddie execs made millions in bonuses the last two years

    04/04/2011 1:53:32 PM PDT · by SeekAndFind · 2 replies
    Hotair ^ | 04/04/2011 | Ed Morrissey
    If any organization should see a big restriction in executive compensation, it should be the government-seized, taxpayer-rescued Fannie Mae and Freddie Mac. Congress has expanded the bailout of the two GSEs at the heart of the global economic collapse a number of times, with the potential cost to the Treasury estimated as high as $363 billion dollars. Recall, too, that the Obama administration created a “pay czar” to regulate executive compensation at private-sector banks that took TARP money to discourage excessive compensation. As the Wall Street Journal reported last week, the White House seems to care less about that issue...
  • Fannie, Freddie Execs Get Big Bucks Despite Downturn (top six get more than $35 million)

    04/02/2011 7:04:13 AM PDT · by Libloather · 11 replies
    NPR ^ | 4/01/11 | Sonari Glinton
    Fannie, Freddie Execs Get Big Bucks Despite Downturnby Sonari Glinton April 1, 2011 Sure the past year was a tough one for the millions of Americans who lost jobs or faced foreclosure, but at least some people did well. The top executives of bailed-out mortgage finance giants Fannie Mae and Freddie Mac were paid very large salaries — without proper written procedures or analysis, according to an inspector general's report. MICHELE NORRIS, host: A new report out this week is criticizing the pay for top executives at Fannie Mae and Freddie Mac. Those are the mortgage giants that were taken...
  • GOP targets salaries, 'offensive' bonuses of federal workers

    03/10/2011 8:12:57 PM PST · by Libloather · 23 replies
    The Hill ^ | 3/09/11 | Erik Wasson
    GOP targets salaries, 'offensive' bonuses of federal workersBy Erik Wasson - 03/09/11 08:50 PM ET Cost-cutting House Republicans on Wednesday made it clear that they are eyeing the salaries of federal workers. And they don’t like what they see. During a House Oversight and Government Reform subcommittee hearing, panel Chairman Dennis Ross (R-Fla.) noted that “federal employees on average earned $101,628 in total compensation in 2010, nearly four times more than the average private-sector worker.” He argued President Obama’s two-year pay freeze for federal workers, enacted in December, “wasn’t really a freeze” because it did not include all increases. He...
  • Fire, Police Unions Fight for Bonuses

    02/20/2011 10:04:31 PM PST · by chickadee · 15 replies
    Market Watch ^ | 2/9/11 | Sean Gardiner and Michael Howard Saul
    But on Wednesday the heads of the police and firefighter unions stood shoulder-to-shoulder on the steps of City Hall united against Mayor Michael Bloomberg, who they both called a "liar." What brought the rivals together? Money. For the past month, Mr. Bloomberg has renewed a call to eliminate a $12,000-a-year pension supplement for about 60,000 retired police officers and firefighters that the mayor has repeatedly called "Christmas bonuses." Mr. Bloomberg said the city is "now kicking in more than $600 million a year to subsidize it" at a time when they're trying to close a $2 to $4 billion budget...
  • On Street, Pay Vaults to Record Altitude (2010 Wall Street compensation hits record $135B)

    02/02/2011 7:48:02 AM PST · by SeekAndFind · 6 replies
    Wall Street Journal ^ | 02/02/2011 | AARON LUCCHETTI And STEPHEN GROCER
    When it comes to paychecks, Wall Street's law of gravity is back in full force: What goes down must come back up. In 2010, total compensation and benefits at publicly traded Wall Street banks and securities firms hit a record of $135 billion, according to an analysis by The Wall Street Journal. The total is up 5.7% from $128 billion in combined compensation and benefits by the same companies in 2009. The increase was fueled by a revenue rebound as the financial crisis recedes in the rearview mirror. At 25 large financial firms that have reported full-year results, revenue rose...
  • Good ol' bonus days are back for Goldman

    01/29/2011 3:15:40 AM PST · by Liz · 13 replies
    NY POST ^ | 1/29/11 | MARK DeCAMBRE
    Goldman CEO Lloyd Blankfein bagged a $14.6M compensation package.....including stock awards, which were also paid to other top executives. Blankfein also got a 230% bump in his base salary to $2M, up from $600,000 since 2007....excluding private jets, cars and other perks. CFO David Viniar, COO Gary Cohn and Vice Chair Michael Evans received identical boosts, with each hauling in $1.85M annually. Blankfein's pay in the halcyon days of 2007, was $67.9M. Other firms have been hiking base pay at a time when regulators are mulling new rules for Wall Street pay.
  • Army Looks For Soldiers Due Unpaid Bonuses (FYI for troops and vets)

    01/17/2011 2:30:10 AM PST · by prisoner6 · 2 replies
    Private Wire Service | 1/17/2011 | NA
    Army Looks For Soldiers Due Unpaid Bonuses (Undated) -- The Army is looking for about 35-thousand soldiers who are owed bonuses because they were forced to remain in the military beyond their normal enlistment. The government authorized the "special pay" in 2009 after criticism from some troops and Congress who said the "stop loss" policy extending enlistments amounted to a "back door draft." Many of those affected fought in Afghanistan or Iraq. The Army has already paid 245-million-dollars in bonuses for 84-thousand soldiers, but hasn't paid 160-million to about 57-thousand current or former soldiers, or their families. The Pentagon is...
  • Steve Ballmer Only Gets Half His Potential Bonus Because Of Microsoft's Continued Failure In Mobile

    10/01/2010 8:29:19 AM PDT · by SeekAndFind · 23 replies
    Business Insider ^ | 10/01/2010 | Dan Frommer
    Someone's paying attention at Microsoft. At least enough to only grant CEO Steve Ballmer half of his maximum bonus this year, because of Microsoft's continued failure in the mobile industry, and because tablet computers are threatening Microsoft's core Windows business. As Reuters reports, "a discussion of Ballmer's pay in the company's annual proxy filing also referred to the 'unsuccessful launch of the Kin phone, loss of market share in the company's mobile phone business, and the need for the company to pursue innovations to take advantage of new form factors'." You may recall that Microsoft canceled its Kin mobile phone...
  • The Government Pay Bonus

    07/07/2010 5:19:41 PM PDT · by MamaDearest · 11 replies
    online.wsj.com ^ | July 6, 2010 | Andrew G. Biggs and Jason Richwine
    Private employees toil 13˝ months to earn what federal workers do in 12. Pay cuts, layoffs and the highest unemployment rates in decades have reignited a debate over the relative treatment of public and private workers. USA Today reported in March that federal workers earn substantially higher wages than private sector employees who work the same types of jobs.White House budget chief Peter Orszag responded that these pay differences merely reflect the superior skills of federal workers, not government largess. Adjusting for education and experience, he said, federal workers make about the same salaries as private workers.
  • Bonus bonanza for federal workers

    06/16/2010 9:23:21 AM PDT · by Thebaddog · 12 replies · 300+ views
    Washington Examiner ^ | 6.16.10 | Editorial Staff
    Under the Obama administration, the government is doing such a good job that it's decided to reward itself. Last year, Uncle Sam paid out $408 million in bonuses to 1.3 million federal workers, according to the Asbury Park Press, which obtained the information through a Freedom of Information Act request. That's about $80 million more than the previous year. About one in four federal workers received a bonus, and awards ranged from $25 to, in the case of one lucky State Department worker, $94,500. That $408 million figure only counts bonuses that were handed out to about 65 percent of...
  • Workers asked to return bonuses after 16 years

    05/19/2010 6:50:58 AM PDT · by Jack Hydrazine · 11 replies · 883+ views
    crAP ^ | 19 May 2010 | Not specified
    <p>LAWRENCEVILLE, Ga. – About 180 county employees in suburban Atlanta are being asked to return thousands of dollars the county says they were overpaid 16 years ago.</p>
  • New York Times Staffers Furious Over The Huge Raise Executives Gave Themselves

    03/26/2010 5:36:43 PM PDT · by george76 · 48 replies · 1,098+ views
    Business Insider ^ | Mar. 26, 2010 | Gillian Reagan |
    Some New York Times Co... staffers are boiling about their top executives' huge $12 million payouts in 2009. Chairman Arthur Sulzberger Jr.'s compensation more than doubled in 2009, to nearly $6 million. President and CEO Janet Robinson also boosted her earnings by 32%, to $6.3 million. During the same year, the New York newsroom lost 100 staffers to buyouts and layoffs, along with pay and benefit cuts at sister publications. "We watched our colleagues pack their boxes and he is making $6 million? It's a joke."
  • Mass. hysteria over New York Times execs' bonuses

    03/27/2010 11:01:16 AM PDT · by Behind Liberal Lines · 20 replies · 1,221+ views
    NEW YORK POST is a registered trademark of NYP Holdings, Inc ^ | 1:18 AM, March 27, 2010 | By KEITH J. KELLY
    Those paydays that New York Times Co. Chairman Arthur Sulzberger and President Janet Robinson received last year are once again coming back to haunt them. The Boston Newspaper Guild, which absorbed more than $10 million in pay and benefit cuts to members last year in order to save The Boston Globe, has lashed out at the Sulzberger and Robinson 2009 bonuses and are demanding their lost wages and benefits be restored... The Times Co. declined to comment. The company raised eyebrows earlier this month when it revealed in a company filing that the pair of execs got higher bonuses in...
  • Federal Bonus Bonanza

    03/11/2010 5:31:32 PM PST · by raptor22 · 52 replies · 767+ views
    Washington Times ^ | March 11, 2010 | Editorial staff
    The only thing that seems to be growing during the current economic downturn is the government, and that's cause for alarm. While families and businesses struggle to make ends meet, the ranks of federal workers swell - as does their compensation. It's time for the feds to start making the same financial sacrifices as the rest of us. Consider how much money a bureaucrat can make for successfully sitting at his desk for a year. In January, all federal workers, regardless of competence or expertise, saw a 2.4 percent boost in their paychecks. That came on top of a 4.8...
  • Wall Street's Bailout Hustle

    02/22/2010 11:28:19 AM PST · by ventanax5 · 5 replies · 445+ views
    Rolling Stone ^ | Matt Taibbi
    On January 21st, Lloyd Blankfein left a peculiar voicemail message on the work phones of his employees at Goldman Sachs. Fast becoming America's pre-eminent Marvel Comics supervillain, the CEO used the call to deploy his secret weapon: a pair of giant, nuclear-powered testicles. In his message, Blankfein addressed his plan to pay out gigantic year-end bonuses amid widespread controversy over Goldman's role in precipitating the global financial crisis. The bank had already set aside a tidy $16.2 billion for salaries and bonuses -- meaning that Goldman employees were each set to take home an average of $498,246, a number roughly...
  • GM Chief Gets $9 Million Pay Package ('GOVERNMENT MOTORS' CEO Gets $9 Million Pay Package)

    02/19/2010 4:15:41 PM PST · by kcvl · 12 replies · 406+ views
    'GOVERNMENT MOTORS' CEO Gets $9 Million Pay Package...
  • William Kristol: I Agree with Paul Krugman

    02/12/2010 8:12:27 AM PST · by SeekAndFind · 21 replies · 861+ views
    Weekly Standard ^ | 02/12/2010 | William Kristol
    Paul Krugman is, I think, right to be amazed by Obama's embrace of the $17 million bonus given to JPMorgan Chase Chief Executive Officer Jamie Dimon and the $9 million issued to Goldman Sachs CEO Lloyd Blankfein. If Obama's idea of moving to the middle politically is to embrace Wall Street's too-big-to-fail banks, he's crazy. Usually Republicans are the party of Big Business and Democrats of Big Government, and the public's hostility to both more or less evens the politics out. But if Obama now becomes the spokesman for Big Government intrusiveness and the apologist for Big Business irresponsibility all...
  • Goldman Sachs’s CEO Blankfein Gets $9 Million Bonus for 2009

    02/05/2010 3:27:49 PM PST · by SeekAndFind · 6 replies · 294+ views
    Business Week ^ | 02/05/2010 | Christine Harper
    Goldman Sachs Group Inc. Chairman and Chief Executive Officer Lloyd Blankfein was awarded $9 million in stock for his performance in 2009, a year in which profit soared to an all-time high and the shares doubled. The sum falls short of the Wall Street record that Blankfein, 55, set with his $67.9 million bonus in 2007. Blankfein’s payment of 58,381 restricted stock units, valued at $9 million at today’s closing price of $154.16, was disclosed today in a filing with the U.S. Securities and Exchange Commission. Goldman Sachs, the most profitable securities firm in Wall Street history, cut the percentage...
  • Lazard bonuses so big, they turned 4Q into a loss

    02/03/2010 5:29:43 PM PST · by TigerLikesRooster · 17 replies · 479+ views
    Crain's New York Business ^ | 02/03/10 | Aaron Elstein
    Crain's New York Business Lazard bonuses so big, they turned 4Q into a loss By Aaron Elstein Published: February 3, 2010 - 3:06 pm What should have been a profitable quarter a Lazard Ltd. turned into a surprising loss due to the investment bank paying its people big bonuses. The firm doled out $616 million in compensation and benefits to about 2,300 employees last quarter, or more than triple the amount handed out in the same period in 2008. It was a consequence, Lazard said, of a decision to pay more bonuses in cash and accelerate some deferred cash awards...
  • Bankrupt Tribune Company Hands Out $45 Million In Bonuses

    01/27/2010 3:22:19 PM PST · by blam · 6 replies · 325+ views
    The Business Insider ^ | 1-27-2010 | Lauren Hatch
    Bankrupt Tribune Company Hands Out $45 Million In Bonuses Lauren Hatch Jan. 27, 2010, 5:21 PM Tribune Company, which declared bankruptcy in December 2008, just got official permission to shell out $45 million in bonuses. A Delaware judge approved the bonuses for 720 of the company's top managers and executives who work for their daily newspapers including the Los Angeles Times, Chicago Tribune, The Baltimore Sun. The Washington-Baltimore Newspaper Guild and the U.S. bankruptcy trustee objected to the payouts, Editor & Publisher reports. Tribune planned on giving out three separate bonus last year, in hopes of retaining a knowledgeable and...
  • Liberal Evangelical Christian Jim Wallis Rips Banks; Calls Bonuses 'Sins of Biblical Proportions'

    01/21/2010 7:58:14 PM PST · by SeekAndFind · 7 replies · 331+ views
    Newsbusters ^ | 01/21/2010 | Jeff Poor
    When you breach the sacrosanct wall between church and state, and use religion to promote policy, bad things happen. At least, that's what the left has been telling us for years. But Rev. Jim Wallis, editor-in-chief of Sojourners magazine and author of "Rediscovering Values: On Wall Street, Main Street and Your Street," sees it differently. Wallis used his interpretation of religion, particularly the Bible, to play the populist card and categorize portions of the American private sector as greedy on MSNBC's Jan. 21 "Morning Joe." "These bank bonuses, I would say, are a sin of Biblical proportions," Wallis said. "But...
  • South Dakota officials to pay veterans bonus

    01/20/2010 3:44:13 PM PST · by SandRat · 2 replies · 205+ views
    1/20/2010 - PIERRE, S.D. (AFNS) -- South Dakota officials are paying a bonus to members of the Armed Forces who were legal residents of the state for no less than six months immediately preceding their period of active duty and who served on active duty during one or more of the following periods. 1. Aug. 2, 1990, to March 3, 1991 - All active service counts for payment. 2. March 4, 1991, to Dec. 31, 1992 - Only service in a hostile area qualifying for the Southwest Asia Service Medal counts for payment. 3. Jan. 1, 1993, to Sept. 10,...
  • $145 BILLION*

    01/14/2010 6:24:01 PM PST · by blam · 5 replies · 230+ views
    The Business Insider ^ | 1-14-2010 | Joe Weisenthal
    $145 BILLION* Joe Weisenthal Jan. 14, 2010, 7:54 PM Thanks to taxpayers, Wall Street is going to have a killer bonus season, up 18% from last year, according to analysis from WSJ. That works out to $145 billion.
  • White House: We're going to tax banks whether that hurts consumers or not

    01/14/2010 2:35:21 PM PST · by engrpat · 18 replies · 993+ views
    Washington Examiner ^ | 1-14-10 | Mark Hemingway
    The White House press briefing is under way as we speak, and Press Secretary Robert Gibbs was asked about whether the White House's proposed new tax on banks would merely be passed on to consumers. Gibbs' response, via the twitter feed of David Corn from Politics Daily, is rather astonishing: Gibbs: "let your money do the talking". Suggests customers move $ out of banks thatvpass along tax. #whbrief 4 minutes ago Gibbs: if banks pass thetax along to consumers-when paying big bonuses-ustomers can bank elsewhere. #whbrief 5 minutes ago The White House press briefing is under way as we speak,...
  • JP Morgan to pay $29 bn in salaries and bonuses: Report (Hallelujah!)

    JP Morgan to pay $29 bn in salaries and bonuses: Report 10 Jan 2010, 1549 hrs IST, PTI LONDON: World's biggest banks will pay out more than $65 billion in salaries and bonuses over the next fortnight, with banking conglomerate JP Morgan Chase alone likely to shell out a record $29 billion, barely a year after the bailout of the banking system. "JP Morgan Chase is set to defy calls for constraint over bankers' bonuses this week when it delivers an expected $29 billion compensation pot for its executives," the Sunday Telegraph reported. JP Morgan's 220,861 employees are on average...
  • YEAH, BABY! Massive Taxpayer-Sponsored Wall Street Bonuses!

    01/10/2010 8:09:52 AM PST · by blam · 11 replies · 587+ views
    The Business Insider ^ | 1-9-2010 | Henry Blodget
    YEAH, BABY! Massive Taxpayer-Sponsored Wall Street Bonuses! Henry Blodget Jan. 9, 2010, 6:53 PM Thank you, Tim Geithner! Thank you, Ben Bernanke! Thank you, Hank Paulson! Thank you, Larry Summers! Thank you, Barack Obama! Thank you, AMERICA, for making this yet another absolutely great year to work on Wall Street! [Wall Street] executives acknowledge that the [bonus] numbers being tossed around — six-, seven- and even eight-figure sums for some chief executives and top producers — will probably stun the many Americans still hurting from the financial collapse and ensuing Great Recession.[snip]
  • Goldman sued by pension fund over bonus plans

    01/07/2010 4:36:49 PM PST · by TigerLikesRooster · 3 replies · 322+ views
    Reuters ^ | 01/07/10
    Goldman sued by pension fund over bonus plans NEW YORK Thu Jan 7, 2010 6:19pm EST NEW YORK (Reuters) - Goldman Sachs Group Inc was sued on Thursday by an Illinois pension fund seeking to recover billions of dollars of bonuses and other compensation being awarded for 2009, saying the payouts harm shareholders. In a lawsuit filed in New York state supreme court in Manhattan on behalf of shareholders, the Central Laborers' Pension Fund said Goldman had by September 25 set aside nearly $17 billion for compensation and might pay out more than $22 billion for the year. It said...
  • Big paydays for Fannie and Freddie bosses (Million dollar bonuses for Execs at Mortgage Giants)

    12/24/2009 12:42:12 PM PST · by SeekAndFind · 14 replies · 720+ views
    CNN Money ^ | 12/23/2009 | Chris Isidore
    NEW YORK (CNNMoney.com) -- Top executives at mortgage finance giants Fannie Mae and Freddie Mac, both of which have been under government control since last year, received millions of dollars in pay in 2009, according to documents filed by the companies Thursday. The chief executive officers of each company got annual pay packages worth $6 million apiece, while other top execs pulled in at least $2 million. Fannie Mae (FNM, Fortune 500) CEO Michael Williams, who was promoted to CEO on April 21, will receive about $4.2 million in base salary and deferred cash payments for his time in the...