Goldman Prepares for Bonus Outrage Revisited: Having a Banner Year, Bank Plans to Pay Execs "Dramatically" Higher Bonuses Than in 2008
Given its strong performance this year, Goldman Sachs is sure to pay staffers "dramatically" higher bonuses in 2009, said Goldman CFO David Viniar, although final decisions won't be made until year's end. If that's the case, the bank will be bracing for another round of public outrage since the "recovery" has yet to trickle down to average people. But the fact remains, the bank more than doubled its net revenue this year, and employees deserve recognition.
Viniar was bombarded on a reporter conference call with questions about compensation, as reporters asked if the firm felt it appropriate to keep paying such large salaries and bonuses when the average person was feeling economic pain, MarketWatch reports. "I would prefer people to focus on the business rather than the bonuses," he said. "I think it's too big a focus, I don't know when it will die down."
BurrellesLuce's Johna Burke interviews Steve Mayerowitz, ABC Travel Producer, who discusses how social media has changed how broadcasters process inquiries and requests from PR people.
