Goldman execs forgo bonuses
November 16, 2008 – 10:58 pm
A good sign:
Goldman Sachs Group Inc said on Sunday its Chief Executive Lloyd Blankfein and six other top officials will not get bonuses for 2008.
Blankfein, Presidents and Co-Chief Operating Officers Jon Winkelried and Gary Cohn, Chief Financial Officer David Viniar, and three vice chairmen — J. Michael Evans, Michael Sherwood and John Weinberg — asked the board’s compensation committee Sunday morning that they not receive a bonus, spokesman Lucas van Praag said…
The executives will only be eligible for a base salary of $600,000 each, the Wall Street Journal reported.
Last year, Blankfein made $68.5 million, Winkelried and Cohn got $67.5 million, and Viniar got $57.5 million. The compensation of the other three was not disclosed.
How ’bout the government claw back the hundreds of millions these guys made while building a systemic time bomb?
Posted in Wall Street, banking, credit crunch, stocks |
One Response to “Goldman execs forgo bonuses”
They should give all their bonuses back over the past three years. Actually, if all the executives gave their bonus money back, then the taxpayers wouldn’t have to bail them out.
By One Jest on Nov 17, 2008