$$$ Robert W. Baird & Co. has a “no asshole” policy. Do you? [Fortune]
$$$ Plainfield Hedgies are Spending Lots of Time in their New Gym [GT]
$$$ From the mailbag: “The portion of JPM bonuses that were paid in stock priced yesterday. So today’s move down in financials (and 7 percent move in JPM stock price) means everyones deferred comp is immediately 7 pc lower on day one. Plus the previously-deferred comp that vests this year doesn’t price until next week.
Banks that reported and handed out bonus numbers later (GS, BAC, etc) probably haven’t priced their deferred comp stock price yet.
Not a huge deal in the long run but when you’re 25 or more pc stock it still sucks when others aren’t taking the same haircut. Thanks for choosing TODAY to speak, Mr President…”
$$$ Cravath’s Jebejian on Obama’s bank plan [The Deal]
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Why are they crazy of these bonuses?
I've done a lot in Vegas without it.
I can't forgive that tree though…
Tiger
Oh boo hoo you JPM babies. 25% comp in stock that was priced yesterday is a better deal than what a lot of others are getting.
# 2 = Fuld
"Not a huge deal in the long run.."
That's what you think. All Banks are essentially insolvent, I tell you. Market to model (aka myth) will DOOM you all.
-HuffingPoofBlogger
Why not (assuming you're restricted), either (a)get an exemption to sell a lookalike warrant or (b) get a receivable loan to cover the stock forward portion of your bonus?
What the F#CK is a NO A$$HOLE policy?!
@6 – just ask the last boss that fired you Sparky
If you don't have any assholes you basically aren't an investment bank.
must be hard working in a place where no one has an asshole to clench or pound. What do these guys do for bathroom breaks?
Wouldn't pricing compensation through stock be the dollar amount divided by the number of shares needed to pay it? So the decline in price will give the recipients more shares? This is obviously the reverse logic of the post, but I thought that's how it would work.
@10, I guess you don't make enough money to have to worry about incentive comp given how you have no idea how it works (and don't bother to google it before looking like a retard on here).
I think people who buy into a crappy equity offering get more shares if the stock trades down too, right??
finally figured out why Baird has had such limited market penetration in West Hollywood
Whoa, wait…Baird is a bank?
donuts i got donuts, hey i know you
You number 11, are a douchebag.
@ 10 – it's clear they don't have a "no pussies" policy as well.
I would be upset too, but more so with the bank than the POTUS. The bank knew that there was a speech scheduled and that it was likely it would not present the banks in a positive way.
On the other hand, the President had no control (and probably was not even aware) of the pricing date of your options. But go on, it's much easier to continue believing that "the left" is out to get you, than it is to realize that behind the smile, JD is a shrewd mother fucker.
@8 has it 100%.