One-Third of Wall Street Workers Expect Bigger Bonus This Year (Bloomberg)
About 36 percent of the 1,074 people who responded to an e-mailed poll by eFinancialCareers.com said they are anticipating a bigger annual payout from their companies and 11 percent said it will jump by at least half. Oh, and FYI: “This finding may rile regulators who have concluded that compensation arrangements often created incentives for risk- taking with insufficient regard to longer-term risks,” the company said in the statement.
Pay Czar Targets Salary Cuts (WSJ)
It’s not clear what portion of an employee’s salary will be diverted to stock but a person familiar with the matter said that in some cases it could be more than 50%.
Wall Street Cedes To Bay Street As Canada Banks ‘Play Offense’ (Bloomberg)
“The profile of the Canadian banks on the global scale has been heightened exponentially over the course of the last year,” said Rose Baker, a managing partner in Toronto with executive recruitment firm Heidrick & Struggles International Inc. “They look more powerful and are able to attract talent that was historically not available to them.”
Société Générale plans €4.8bn capital-raising (FT)
The frogs: they’re just like us. They want the government out of their business. (SocGen said it would use the money to repay the government’s €3.4bn capital aid, of which half is in the form of preference shares and the rest a subordinated loan.)
Saudi Bank Governor Denies Talks to Replace Dollar (Bloomberg)
The Independent report is “absolutely incorrect” and there has been “absolutely nothing” of that nature discussed between Saudi Arabia and other countries, Saudi Central Bank Governor Muhammad al-Jasser told reporters in Istanbul.
JPMorgan, Goldman Give Profit ‘a Pulse’ After Record 2-Year Drop (Bloomberg)
Get this: the banks may make a lot of money this quarter, perhaps even record-breakingly so.
JPMorgan U.S. private bank to add jobs (Reuters)
Catherine Keating said the unit will expand its private banker force by 10 percent in the coming months as they move to invest in “people.”
Former Boeing Executive Guilty in Swiss Tax Scheme (Reuters)
Roberto Cittadini pleaded guilty on Monday to hiding nearly $2 million in UBS in Switzerland, just like a billion other people, except Bobby might possibly actually be punished, facing up to three years in jail, a fine of up to $250,000 and a civil penalty equal to 50 percent of the highest account balance between 2001 and 2007
Posted by guest , Oct 06, 2009 8:30AM
is that his sexy face?
-marc dreier
Posted by guest , Oct 06, 2009 8:31AM
haha, canada.
Posted by guest , Oct 06, 2009 8:32AM
I expect a bigger bonus this year too.
-andy c hall
Posted by guest , Oct 06, 2009 8:34AM
Of course we expect bigger bonuses this year, harder to get smaller than nothing.
Posted by guest , Oct 06, 2009 8:35AM
so I take it this poll was blocked at c and bac?
Posted by american bandersnatch , Oct 06, 2009 8:37AM
@4 - I think that's about the worst thing I've ever heard. How marvelous.
Posted by guest , Oct 06, 2009 8:39AM
UBS sucks.
Posted by guest , Oct 06, 2009 8:41AM
@4 clawbacks, there's that possibility.
Posted by guest , Oct 06, 2009 8:52AM
@4
Don't tempt me with the possibility that #8 brought up, you little Wall Street puke. You'll take whatever bonus I decide to let you have, and you'll like it.
-The Big O
Posted by guest , Oct 06, 2009 9:08AM
Bigger baller: Bell, Biv, or DeVoe?
Posted by Joe Mac , Oct 06, 2009 9:12AM
Biv, fo sho!
Posted by turd_ferguson , Oct 06, 2009 9:13AM
First we get you wasted with our 5% beer, then we take your bankers...then we bang your Wives and Girlfriends.
Posted by Ra Sizer , Oct 06, 2009 9:14AM
UBS sucks
Posted by Becky Boot Fan , Oct 06, 2009 9:24AM
Neither Bell, Biv...nor DeVoe.
Biz! As in Biz Markie...he's just a friend.
Posted by guest , Oct 06, 2009 9:31AM
I WANT A GREG MICHAELS POST NOW! It's 9:30am already!!!!!!
Posted by trojan , Oct 06, 2009 9:32AM
Our government has apologized for Bryan Adams on several occasions!
Posted by Becky Boot Fan , Oct 06, 2009 9:34AM
@16, could you please tell me what this is "about" again?
Posted by pfluger , Oct 06, 2009 9:37AM
I'm breaking da news here dat 2/3 of Wall Street expects NO INCREASED bonuses dis year.
-cg
Posted by guest , Oct 06, 2009 9:40AM
Zero Hedge's take on the Fisk piece is remarkably child like.
Posted by Greg's Boyfriend , Oct 06, 2009 9:47AM
@15 stay away from my man.
Posted by guest , Oct 06, 2009 10:02AM
RBC sucks UBS
Posted by rob moore , Oct 06, 2009 10:04AM
why the sudden increase in Bell Biv DeVeo mentions?
after 15 years of nothing - they have been mentioned a bunch of places lately...
Posted by guest , Oct 06, 2009 10:05AM
@19
The sky is blue, and 1+1 =2. Since when has ZH NOT posted childlike blathering.
Posted by Canadian Banker , Oct 06, 2009 10:05AM
@21 obviously, you are having trouble reading through the article.
We are also the best because we have the largest non-islamic source of oil. Who's the sucker now, chump?
Posted by guest , Oct 06, 2009 10:09AM
...and the largest population of non-islamic beavers
Posted by guest , Oct 06, 2009 10:13AM
Who wants to play a quick game of hide da salami? Huh? Who wants some a dis?
CG
Posted by guest , Oct 06, 2009 10:14AM
What the hell is a Zero Hedge?
Posted by CoveredLong , Oct 06, 2009 10:29AM
@27 - A ZH = Often times hedge sculptors choose to shape their hedges into cute animals or familiar cartoon characters for the enjoyment of children and passers by. As such, you can frequently find them at amusement parks and other public places of interest.
A ZeroHedge, commonly confused with the more frequently found 'O' hedge, (used in such famous hedges as the 'Pepsico' hedge) is a more eliptical version and not quite as symmetrical version of the 'O' hedge. '0' vs. 'O'. The difference is subtle, but admired and valued by true enthusiasts.
-Hedger
Posted by guest , Oct 06, 2009 10:31AM
I designed a negative interest product that will guarantee me a big bonus for this year. It is designed as a hedge for those who want to make interest payments cost neutral and at the same time it is tied to FX spreads between the tögrög and the dinara.
I'm Rish Bitch!!!!
Posted by guest , Oct 06, 2009 10:32AM
I designed a negative interest product that will guarantee me a big bonus for this year. It is designed as a hedge for those who want to make interest payments cost neutral and at the same time it is tied to FX spreads between the tögrög and the dinara.
I'm Rich Bitch!!!!
Posted by guest , Oct 06, 2009 10:33AM
@27 a stump?
Posted by AQR Capital Letters , Oct 06, 2009 10:43AM
@27
A Zero Hedge is a product that can be used to hedge any and all risk.
I should know.
-Cliff Assness
Posted by pfluger , Oct 06, 2009 11:06AM
Yesterday, after I got pumped, I shaved all of my public hair.
-cg
Posted by guest , Oct 06, 2009 11:25AM
@33/CG does that work?
Posted by pfluger , Oct 06, 2009 2:08PM
@34:
Fuck. I meant "pubic" hair. I'm on da phone constantly, wit my hi-level sources, and made a fuckin' typo. ME! A fuckin' typo.
It just goes to show ya, dat everybodies human. Even I can make a fuckin' mistake.
My critics will be all ova dis shit. Fuck.....
(Did what work, and whaddidya think a my book?)
Posted by mthomas , Oct 06, 2009 3:08PM
Since the gold price has broken out to new all time highs today, I'd like to highlight one company in particular, Yamana Gold, which is one of my core holdings in gold miners. Today it updated production guidance and the numbers came in ahead of many analysts' expectations. I read a good summary and analysis of their news release at http://www.goldalert.com, where it also mentions market speculation that the company may be looking for a competitor to buy it out. I think Yamana, along with many other gold miners who offer leverage to the gold price, will continue to do well as a result of the government's insistence on trying to prevent deflation at any cost. The dollar is close to new 52 week lows, and the willingness of our govt to debase the currency should continue to benefit gold, in my view.