posted
Are they out of their minds?!?! Guess the bonuses are for a "job well done!".
2:24 PM 7/02/08 Lehman employees to receive midyear bonuses equal to 20% of annual compensation
Lehman lost $2.8BB for the quarter ending May 31st.
-------------------- When facism comes to America it will be wrapped in the flag and carrying a cross. Sinclair Lewis Posts: 1882 | From: St. Louis | Registered: Feb 2005
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posted
Just to play devil's advocate, I work at an investment company, and despite a terrible year my bonus is scheduled to be over 40% of my salary. "Bonus" is kind of a misnomer. In fact, here they call it "Incentive-based Compensation", and unless the company went under, you'd never end up getting nothing. It's basically an extension of your salary that's based partly on your individual performance, partly on your "team/department" performance, and partly on company performance. So let's say Lehman had the same structure, where you get 10% bonus for individual, 10% for team, and 20% for corporate. You'd miss out on the whole 20% for the corporate, but if your team ahd a good year (maybe you work in the commodities team) and your individual performance was good, you'd get 20% instead of the 40%. you can't screw over all of your employees whenever you have a bad year, or people will leave. It's smarter in most cases to take a bigger loss for the year and keep your employees, or turnover will cost you more money in the long run.
posted
not only that? they needed to convince the market they are not folding.
-------------------- "Man is the only kinda varmint that sets his own trap, baits it, and steps in it." Posts: 26227 | From: USA | Registered: Sep 2003
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posted
I sure wish that companies and the way they structure their bonuses and advancements were about making sure that good people stay that work hard, perform above others etc.
I also wish that companies were sticking to promises they make prior to hiring their employees.
There has to be companies out there like that but they are just real hard to find these days.
Maybe the economic downturn will make companies re-access their way of thinking these days and maybe think long term basis for business instead of short term high pay for a select few.
If this had been the goal prior to now maybe some of these companies would have been in a lot better shape now.
It seems the bigger the company the more BS is involved in making sure that certain people are takng care of, they tweek things to make sure that this happens.
What you guys say sure sounds good but i think it is really a thing of the way past.
Posts: 2369 | From: ca. | Registered: Jul 2005
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posted
The CEO got 22.1 million in compensation in 2007 and there had to be others below him that got plenty also.
So might as well help other employees get some of the take also.
Doesn't seem to matter how good or bad a company is doing the ones that make the hugh amounts of money are not really effected that much if the company goes under. It's those middle income and below people that get hurt the most.
Posts: 2369 | From: ca. | Registered: Jul 2005
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