Huddle Up! Join for Free.
Get More Trade Ideas and Track Technical
Levels for Stocks in your Portfolio
Find Out More About HuddleUp!

Or Single Sign on to Register

Goldman Sachs will not give Cash Bonuses
Written by Gerard Lerod   
Thursday, 10 December 2009 14:44

New York, Dec 10th (TradersHuddle.com) – Goldman Sachs group (NYSE:GS) released a press release stating that its top executive will  not receive cash bonus this year, and that 100% of the bonus will be given in restricted stock.

Bonuses represent the vast majority of senior management’s compensation and are directly tied to Goldman’s performance. Goldman has been facing public outrage after setting aside close to $17 billion for year-end bonuses.

The criticism stems from Goldman receiving $10 billion of taxpayer money as a bailout during the financial crisis, which helped the banking giant weather the crisis, and return to very strong profits for the past two quarters, with net income in excess of $3 billion.

Goldman employees were on pace to earn on average $717,000 per person in 2009, which puts them at odds with main street that is still struggling with the recession and high unemployment.

 
Get TradersHuddle Technical and Trend Analysis on: NYSE:GS For Free

TradersHuddle provides recommendations based on an algorithm that considers key technical indicators, as well as, support and resistance levels.You can track your stocks by registering for Free to the TradersHuddle Community.


 

 


 

| More

Get Support / Resistance / Stop Loss
Get It - It's Free