Word: billion
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...Citi, the controversy surrounding Hall's pay was about whether a bank that has received $45 billion in government assistance should be turning around and handing over big bags of cash provided by taxpayers, most of whom won't make one-tenth of Hall's annual salary in their entire lifetimes, to its employees. But now that Hall has left Citi, a larger question remains: Is anyone really worth $100 million a year, and what exactly do you have to do to deserve that much...
Reforms after the financial crisis were supposed to dramatically downsize what bank executives - including hotshot traders - get paid. But a year later, little seems to have changed. Banks, which have roared back to profitability this year, look poised to dole out billions of dollars in year-end bonuses for 2009. Alan Johnson, a top Wall Street compensation consultant, estimates that Wall Street Christmas pay will rise 35% from the figure a year ago. That means Wall Street bonuses could total as much as $19 billion...
...bankrupt nation and threw it open to foreign investment, who built not just roads and bridges but a grand new capital called Naypyidaw - "Abode of Kings." The reality is a little different. Foreign trade has enriched the junta; the Yadana natural-gas project alone has earned the regime $4.83 billion since 2000, according to the Washington-based nonprofit EarthRights International in a recent report. But most Burmese still live in wretched poverty. The new capital is an expensive boondoggle...
...Wasserstein—in conjunction with his partner Joseph Perella of First Boston—created Wasserstein Perella & Co., a smaller investment bank that was eventually sold in 2000 for around $1.4 billion...
...says. Ahead of the two main holidays celebrated in the city each year - Victory Day in May and City Day in September - the often cash-strapped air force is paid to make sure that it doesn't, well, rain on the parades. With a budget of $40 billion a year (larger than New York City's budget), Moscow can easily afford the $2 million to $3 million price tag to keep the skies blue as spectators watch the tanks and rocket launchers roll along Red Square. Now there's a new challenge for the air force: Moscow's notorious blizzards...