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Originally Posted by CC1
They claim these bonuses were contractual and they were obligated to give them BUT I also heard that they were only added in 2008. I think by then they knew they were in the toilet so to promise huge retention bonuses to derivitives traders was asinine.
Putting together the info I have heard I think $165 million is being split over 400 or so employees. That is almost a half million dollars each on average!
The trend the last decade or two of rewarding CEO's,other executives, and employees like these with huge bonuses or golden parachutes while a companies performance is tanking is absurd. Bonuses should be rewards for performance that brings a positive results to the company. I am amazed at the number of CEO's who run a company in the ground and then leave with tens of millions of dollars in golden parachute settlements.
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The sad thing is that they feel compelled to honor that kind of a contract. But if it was a blue collar auto worker working at your local GM or Jeep plant or any other, those contracts aren't worth the paper they're written on. Look how many have lost their retirement money completely, even tho it was in the contract.
I guess money talks. And the more you have of it, the more you can speak up for yourself, eh?
