What’s The Value Of A Big Bonus? - Foreign Affairs - Nairaland
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| What’s The Value Of A Big Bonus? by Cayon(f): 3:35am On Nov 21, 2008 |
BY withholding bonuses from their top executives, Goldman Sachs and UBS may soften negative reaction from Congress and the public if their earnings reports in December are poor, as is expected. But will they also suffer because their executives, lacking the motivation that big bonuses are thought to provide, will not do their jobs well? please click on link http://www.nytimes.com/2008/11/20/opinion/20ariely.html?bl&ex=1227330000&en=cb254b577ccf4790&ei=5087%0A |
| Re: What’s The Value Of A Big Bonus? by NegroNtns(m): 8:06am On Nov 22, 2008 |
But will they also suffer because their executives, lacking the motivation that big bonuses are thought to provide, will not do their jobs well? You are correct bonus is a motivation and its approval is tied to the company performance. What happens if the company didn't meet its performance goal? In effect, you can say no passing grade, no bonus! However, that message is usually the pep talk for senior directors and below. Above them and at the executive level the bonus is tied to the service contract. Company performs or not, executive gets paid! Congress can regulate that without regulating free market. Don't expect it to happen! |
| Re: What’s The Value Of A Big Bonus? by Cayon(f): 6:13am On Nov 24, 2008 |
i agree with you. You know if it was up to me - i'll put all thse CEO's of failed companies in jail. I am positive those guys saw the writing on the wall last year but GREED took over their conscience. As an example, last year one CEO took home 45MM while a "small potato" took home 15,000.00 for bonus. Instead of not giving them bonuses this year, I say seize all their assets (homes cars, boats, etc) personal and public or require the over-compensated CeOs to repay the excess compensation they received over the last three years. Let me give you a joke. I remembr at a conference they asked us to say waht we do in our leisure time. Everyone was like relax, go to the beach blah blah. Until this female CEO stood up and said "for leisure (english accent) we take the family jet to Pari for brunch" I felt like punching her on her breast. Most of these Wall Street barons live by Michael Douglas phase "Greed is Good" Hmm, but is it? or until they are caught Peace |
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