Word: bonus
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...just over 3,500 employees across all its divisions. It hopes to hire another 200 staffers in 2009. Cantor has been able to lure traders, bankers and analysts away from much larger firms in part by doing away with one of Wall Street's oldest traditions - the year-end bonus. Instead, Cantor is offering to pay most of its new employees in full each month, rather than holding a good chunk of their pay until the end of the year. "There is just too much variability in year-end pay," says Martin Teevan, who joined Cantor & Co. from Goldman Sachs...
...their balance sheets, the banks sharply curtailed lending, threatening to throw the economy into a tailspin. The Bush and Obama Administrations poured money into the banks to allow them to restart some lending, but the toxic assets remained on the banks' books. (See five lessons from the AIG-bonus blowup...
...away with murder," Representative Peter Welch, a Vermont Democrat, told TIME. He said taxpayers are majority shareholders who are "entitled to know how company money is being spent" without the data's being "dressed up with the benefit of high-priced media folks." (Read "Five Lessons from the AIG Bonus Blowup...
...York City Giving In and Giving Back Some of the AIG executives under fire for taking fat bonuses have agreed to return the money. The insurance giant, which has received $180 billion in bailout funds, was obligated to pay out $165 million in bonuses as part of employees' contracts--prompting outrage from the public and in Congress. In all, more than $50 million in bonus money has been returned...
Lakeside Leisure. If the idea of spending a day canoeing in the Adirondacks, then having a soothing Jacuzzi and getting a massage in front of your private fireplace sounds appealing, you might be interested the Escape & Relief package at the intimate Fern Lodge in Chestertown, NY. As an added bonus, after your massage, the hotel owner's husband, who works in the wine business, offers a free wine tasting. Rates start at $649 for two nights, including breakfast and a 45-minute in-room massage. 46 Fiddlehead Bay Road, Chestertown...