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Banks, Bonuses and Capitalism – Full text of letter published in the London Times Tuesday 31st Jan 2012

Tweet  Banks, Bonuses and Capitalism The concept of the bonus is the problem, not its size. It fosters lazy management, indiscriminate sales, bad salesmanship and is irreducibly divisive; hostile to teamwork and destructive of team spirit. The bonus is based upon a cynical contempt for people: that they can only be motivated by greed and cannot take [...]
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Wachovia Reported to Cut Bonuses by 90% or More

Business & Finance : DealBook (6 years ago)

The estimated 4,600 employees from Wachovia’s investment banking division will see their bonuses reduced at least 90 percent this year, an unidentified manager in the unit told Employees of the Wachovia investment ban... Read Post

EU plans curbs on hedge fund pay

Business & Finance : Business Report (2 years ago)

European regulators published draft rules to crack down on excessive bonuses for managers of hedge funds. ||| London - European regulators published draft rules on Thursday to crack down on excessive bonuses for managers of hedge fu... Read Post

A Credit Suisse Managing Director Leaves After A Dispute Over His Team's Bonus Pool

Business & Finance : Business Insider: Clusterstock (2 years ago)

Jan. 7 (Bloomberg) -- Steve Oplinger, co-head of U.S. high- yield sales for Credit Suisse Group AG, left Switzerland’s second-biggest bank amid a disagreement over his group’s compensation, two people briefed on the matter said. Opl... Read Post

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