Word: compensationitis
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Uncle Sam has a new name on Wall Street - Sugar Daddy. Bonuses for investment bankers and traders are projected to fall 40% this year. But analysts, compensation consultants and recruiters say the drop would be much more severe, perhaps as much as 70%, were it not for the government's...
While the government rescue limits the salaries of five top executives from each of the participating financial firms, Congress did nothing to restrict Wall Street firms from using taxpayer funds to boost the compensation of rank-and-file investment bankers. "Some people might argue that these bankers should not be...
Air Tahiti Nui says it cannot reimburse passengers for lost time, hotel and other expenses due to delays, but Panza did offer the aggrieved couple $200 cash, plus $500 in travel vouchers. The newlyweds accepted the compensation, but their nightmare experience won't soon be forgotten. Ah, well. Hope that...
Alerted to the liaison this summer, the IMF's board contracted an independent Washington law firm to investigate whether Strauss-Kahn might have abused his power in one of two ways: by pressuring Nagy to resign once their relationship ended or by intervening to enhance the compensation she would receive...
For now, no available evidence has surfaced to contradict Strauss-Kahn's assurances that "at no time did I abuse my role as director-general." Lawyers for Nagy, a Hungarian economist who now works in London for the European Bank for Reconstruction and Development, say she left the IMF of...