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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

Goldman Altars Bonus Policy, But Not Bonus Pool Size

Business & Finance : Business: The Atlantic (5 years ago)

In response to shareholder anger over its incredibly large bonus pool, Goldman Sachs has altered its bonus policy. According to reports, the bank has lowered its bonus pool amount by $0.00. Huh? Exactly. Rather than decreasing the s... 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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