Word: bonuseer
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...actually worth more than its American counterpart. Fortunately, economic catastrophe has reasserted the natural order of U.S.-Canadian relations. From the cosmopolitan charm of Montreal to the amazing skiing of Whistler (and, in between, Saskatchewan), America's neighbor to the north is a great place to spend strengthening greenbacks. Bonus: Global warming will make those biting Canadian winters just a little bit more endurable...
...plus side, Wall Street firms are expected to pay out $14 billion in year-end bonuses this year. It's still a lot, and most likely much more than what the firms would have paid out had the government not decided to bail out the financial sector. But bonus pay is down just over $19 billion from a year ago. What's more, Brad Hintz, an analyst at money manager Sanford Bernstein, predicts Wall Street employment will drop from its mid-July peak by around 43,000 employees by the end of next year...
...pain is hitting real estate too. Hamptons realty agent Rick Hoffman of Corcoran says his market usually gets an infusion of Wall Street money this time of year - thanks to the bonus payouts - but he isn't expecting a pickup in slow sales anytime soon. He says he is seeing the weakest prices in years on the east end of Long Island, where Wall Streeters have traditionally bought their weekend homes. For example, last week a seller dropped the price on a five-bedroom, 6 1/2-bath, 7,000-sq.-ft. home, located on an acre of land, to just under...
...these two tracks propelling it forward, the album moves from one enjoyable tune to the next and stays fresh with the injection of reggae flavor on “No Other Love” (featuring British diva Estelle of “American Boy” fame) and infectious bonus “Can’t Be My Lover.” Things slow down toward the second half with the excusable ballad “This Time”—a return to the piano-driven, earnest love song Legend has mastered, except this time backed...
...factor mitigating the financial industry's bonus intentions is the fact that there could be far fewer employed Wall Streeters by the time year-end payouts are made. Goldman Sachs reportedly plans to cut 10%, or 3,250 workers, from its payrolls. Barclays is expected to eliminate 3,000 jobs from the former investment-banking division of Lehman Brothers, which it acquired in September. And Merrill Lynch's John Thain recently said that he expects thousands of job cuts in the wake of his firm's acquisition. All told, Hintz expects Wall Street employment to fall 25%, which could mean...