• 22 Oct 2009 at 10:05 AM

Bonus Watch ’09: Morgan Stanley

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No projected numbers yet but John Mack told employees today that re: compensation, “it’s going to be controversial. And it is what it is.” Which should bode well for the Mackettes! If it’s going to piss off the public, that’s gotta mean it’ll be good for you.

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Comments (25)

  1. 1
    Posted by guest | October 22, 2009 at 10:22 AM

    I told my people something similar, but it was “re: comp: suck my prestige. it is what it is.”
    -LB

  2. 2
    Posted by guest | October 22, 2009 at 10:27 AM

    Go Mack!!!!!!!!
    -not an MS employee, but glad to see the Feds suck it~

  3. 3
    Posted by guest | October 22, 2009 at 10:28 AM

    “it’s going to be controversial. And it is what it is.”
    Maybe he’s planning on paying them in cannolis.

  4. 4
    Posted by guest | October 22, 2009 at 10:34 AM

    Either he realizes the world’s going to end and he’s paying out 90% earnings as comp or he’s decided fiscal responsibility is in order and paying out 20%. I’d bet on the former.

  5. 5
    Posted by guest | October 22, 2009 at 10:45 AM

    Wait! does Obama know about this? He should be involved in this comp decision. He should be involved in ALL decisions.
    I was thinking of buying new shoes but before i do it i am writing a letter to Obama asking if it would be ok with him…I am waiting to hear back.
    I will probably hear back when he goes on FOX to apologize for being a pussy.

  6. 6
    Posted by guest | October 22, 2009 at 11:17 AM

    @5 – if you’re buying those shoes with fed money you better ask.
    http://www.thedailybeast.com/blogs-and-stories/2009-10-22/goldman-wins-again/?cid=hp:mainpromo2

  7. 7
    Posted by guest | October 22, 2009 at 11:20 AM

    Bonusclops handing out fuckme boots

  8. 8
    Posted by guest | October 22, 2009 at 11:20 AM

    Bonusclops handing out fuckme boots

  9. 9
    Posted by guest | October 22, 2009 at 11:30 AM

    Attention all mega bonus recipients: Your table is ready. The Last Supper is ready to begin.
    Do not underestimate the power of the blowback from Main Street, U.S.A. They’ve heard all the nonsense they can take.

  10. 10
    Posted by Apollo | October 22, 2009 at 11:30 AM

    @3 “it’s going to be controversial. And it is what it is.”
    and on top of that he commented “at the end of the day” “at this moment in time” and “whatever”

  11. 11
    Posted by Walter Sobchek | October 22, 2009 at 11:37 AM

    Those rich fucks.
    This whole fucking thing!

  12. 12
    Posted by guest | October 22, 2009 at 11:47 AM

    The media seems to be more interested in the “shoot self in foot” and “take the ball and go home” angles on the comp story.

  13. 13
    Posted by guest | October 22, 2009 at 11:57 AM

    He’s just trying to get them out before the next wave of ARM foreclosures hits and unemployment jumps a few more points.

  14. 14
    Posted by guest | October 22, 2009 at 12:06 PM

    @13
    ARM foreclosures? Unless you mean Option ARMS thats kinda fail seeing as the LIBOR rates they are all resetting to are now such that most of their rates won’t change much, if at all. Try again.

  15. 15
    Posted by guest | October 22, 2009 at 12:42 PM

    Does anyone have first year numbers?

  16. 16
    Posted by guest | October 22, 2009 at 1:14 PM

    Bonuses used to be paid in kilos at my firm. I would be impressed if JMack took a page from my book.
    -Jimmy Cayne

  17. 17
    Posted by Anonymous | October 22, 2009 at 1:40 PM

    Nice to see that pay is being linked to performance.
    http://abnormally-distributed.blogspot.com

  18. 18
    Posted by guest | October 22, 2009 at 2:25 PM

    In my opinion, MS simply didn’t take a haircut on that toxic waste dump they call a balance sheet!!! Mack didn’t want to go out on the low note of his own creation. Poor Gorman! He’s going to get stuck with the inevitable losses and voted “Douche Bag of the Year”. Sigh….

  19. 19
    Posted by guest | October 22, 2009 at 2:39 PM

    @14, You fail.
    Do the math slick.
    ARM was LIBOR + 250. Even if you are flat on LIBOR you are assfucked on the new appraised value since most metro markets are off over 20%.
    Lend much?
    kiloman

  20. 20
    Posted by guest | October 22, 2009 at 3:57 PM

    Yeah, let’s see what the 401K match is going to be.

  21. 21
    Posted by guest | October 22, 2009 at 4:41 PM

    @6 Tarp money or not, show me the resume of the idiot of who would work at a company for a 90% pay cut? Its one thing for the company to have accepted TARP money and yes agreed greedy CEOs should not profit. BUT we are hiring NEW people to walk into what will be a very visible and difficult situation. If you want a traffic cop handling the failing company pay him what a traffic cop would make. if you want someone to fix the problem and get the company back on track…PAY HIM.
    Its the same with medical coverage. You want talent you have to pay them. I doubt A-Rod would play for the Yanks for a 90% pay cut.

  22. 22
    Posted by MitchP | October 22, 2009 at 10:06 PM

    No bonus for all Morgan Stanley employees would also be controversial!

  23. 23
    Posted by guest | October 23, 2009 at 2:52 PM

    @19 how does lower appraised value equate to foreclosure? let’s say for argument’s sake that the rate isn’t much higher, why does that automatically mean foreclosure?

  24. 24
    Posted by guest | January 20, 2010 at 5:03 PM

    well there were 2 levels of bonus this year. Ones on par with 2008 and ones with 2007. If you got the 2007 one, they want you to leave.

  25. 25
    Posted by Bristol Airport Hotels | April 19, 2012 at 5:44 AM

    fuRRMF Thanks a lot for the blog.Thanks Again. Really Cool.

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