Some companies in the bailouts agree to NO Bonuses.

United States
November 17, 2008 7:33am CST
Goldman Sachs CEO and six other companies that are in bail out have decide not to pay out bonuses to their CEOs and top executives this year. But don't worry about Goldman Sachs CEO. He has a salalry of $600,000.00 a year. Plus last year he did get his bonus of 68 million dollars even with the ecomonic crisis looming. I am sure he will be just fine. It is nice to see some of the bail out companies deciding not to give out multi million dollar bonuses. Do you think is out of the kindness of their hearts, or because most Americans are mad as heck about them? Do you think the rest of the companies in the bail outs will also decide not to give out bonuses?
1 person likes this
9 responses
@DCMerkle (1281)
• United States
18 Nov 08
I was very pleased to hear that G.S. had opted to not got for the bonuses. That AIG and the others, were seen as having a grand old time on our dime didn't do well for the other co.'s that may have wanted to follow suit. The CEO of G.S. was due for a 300 million bonus this year, along with others that were getting just about the same. The way I see it, is that AIG as well the the others that got a piece of that pie, have just pushed themselves out in the forefront and I hope that it will make their customers think twice before they use their services. Just how much money is AIG making off of the customers and investors and not able to pay the bills? DCMerkle
• United States
18 Nov 08
That is a very good question. I hope the news media follows up on how the companies us their bail out dollars. Any waste should be publicized so we the public can decide to demand our money back and stop using that companies services.
@MntlWard (878)
• United States
17 Nov 08
As I understand it, some of the other banks receiving bailout money have already given bonuses to their execs, and they're also using the money to buy smaller banks instead of increasing lending like they're supposed to be doing. (By the way, thanks to a possibly illegal little change in tax code from the Treasury, their buying of those banks will help some of them make a couple extra billion dollars with your money.) In my mind, kindness isn't a factor in that decision. If these banks came so close to failing that they needed the taxpayer to come in and help them out, then their execs shouldn't deserve a bonus.
• United States
18 Nov 08
I know I heard today that the banks are hording the money instead of lending it. They are not using the money for what it was intented for. But the government is not doing anything about it. It looks like they get the money with little to no strings attached. This has been a huge mess and our congress has showed just how incompentant they really are.
@xParanoiax (6987)
• United States
19 Nov 08
If I were them, it'd be because of fear of repercussions to flout a hefty sum in the faces of the angry masses. I'd have nightmares about pitchforks and torches. *nodnods* Maybe SOME of them did it out of the goodness of their hearts, but I doubt that that's most of 'em. As for the rest of 'em...it'll be hit an' miss. If they're smart they'll agree "NO BONUSES, GOOD BEHAVIOR". But if they were smart, most of them wouldn't be in this position to begin with.
@xfahctor (14118)
• Lancaster, New Hampshire
17 Nov 08
Well, considering each GS executive earns a salary of $600,000 a year and CEO, Lloyd Blankfein got a christmas bonus lat year totaling almost 70 million last year, I'm sure it isn't going to hurt them any. Of course this is all just the on the books stuff, lord knows how much financial voodoo goes on behind the scenes in these companies. The maze is so complex, even the people investigating and sorting the whole deal can't tell where to even begin.
• United States
18 Nov 08
It is going to take years to sort out this mess and what caused it and who to hold responsible. If they ever do.
@newtondak (3946)
• United States
17 Nov 08
I fail to understand why any company that is failing to the extent that they need a bailout would want to pay a BONUS to their executives. They are obviously not doing the job they should be or the company wouldn't be failing - and yet they want to reward them! I personally think that any company that misuses the funds provided by our tax dollars, should be made to pay the money back WITH INTEREST and a PENALTY!
• United States
18 Nov 08
We should not bail them out. They made the bad decisions, they ran their company into the ground. They should not be rewarded for bad behavior. Anyone bailing you out when you mess up? It is a wonder they have kept their jobs. YOu or me would have been fired by now. But CEOs, they can do anything, keep their jobs and get multi million dollar bonuses.
• India
17 Nov 08
i dint except goldman sachs ceo to be $600,000. that a huge amount. yep. its nice to see some of the bailout companies are not giving out huge bonus. i don't thinks this is because of kindness. there financial position isn't good so there are no giving bonus. generally bonus will be given when the company is earning huge profits. i my view it is a right decision. i hope they get of this financial crisis soon
• United States
18 Nov 08
Yep the guy got paid 600 large last year plus a 68 million dollar bonus for running his company into the ground. He does not deserve to keep his job much less get a bonus.
@subha12 (18441)
• India
18 Nov 08
there are financial crisis, bailouts etc all over. I think all these high officials, like CEO, directors etc are all very secure a sthey will continue to earn huge what we can't even think of.
@becnh83 (806)
• Philippines
18 Nov 08
what a big amount of money! oh my how will i spent it if i will be given that huge amount.hahahaha. well, bonuses depends our salary, maybe he got that huge amount of money because he plays a very risky role in the company especially he is a CEO, and i think he deserves to have that amount.
@mariposaman (2959)
• Canada
18 Nov 08
As far as I am concerned the bonuses paid while they were running their business into the ground should be forfeit and paid back. 68 million dollar bonus is obscene when they were running their business into the ground. There should be strict provisions on the flagrant spending like the executives spent 400,000$ on a resort retreat. If they do not comply they should be sent to jail. These people are walking away with millions of dollars while ordinary citizens are seeing their houses being repossed, people are seeing their investments and savings and retirement accounts evaporate and have not a hope of recovering financiall like the fat cats do. Why is the government giving away billions to companies who could not manage their own money is being given public money to squander with no strings attached.