As you’re aware, John Thain took over at the only firm that would have him (kidding, he’s the best), CIT Group, earlier last month. In his first order of business, Mr. T made sure to let everyone know he will not be redecorating his office like he did at Merrill, presumably before he saw just how hideous the place turned out to be. In his second order of business, he canceled all bonuses. The news was announced on an employee-wide call yesterday, and is said to have come as a bit of a shock, as people were expecting to get their numbers this week and their money on March 16 (though I suppose you could make the argument the former was delivered on schedule, it just happens to be zero). According to Thain, 2009 was “a difficult year for CIT, and though full year results have yet to be published, there is no question losses will be in the billions. As such, and given the sensitives in Washington and the world, it wouldn’t be right to give out bonuses as planned.”
So, you’re getting nothing but dry those tears because there will be some not very attractive retention packages to speak of. They’ll be paid out in June and next December and will include “50 percent of our overvalued stock that no one wants,” according to one employee (the top 20 executives will get 100% of their retention bonus in said stock). Also, lest any of you think he’s not deadly serious about this office shit, John Thain has apparently been using a folding card table as his desk.
“Thain has apparently been using a $250,000 Louis XV folding card table …”
-fify
My office gave out lottery tickets at Christmas last year. Not joking.
-Big 4 employee in Europe
Just wait, I’ll make it rain. Those long brown BAC sharks that swim in circles will bite again.
- Peter Kraus
Seriously, DB, I love the upgrades to the site, but when’s the “slowness” going to be fixed? This site is a huge part of my day and my work productivity is increasing because of this problem.
We’re not actually saying this is the Earth calling you, Dealbreaker. Listen. It’s not like we think we’re actually in a control tower trying to reach outer space aliens or something, okay?
Hello? Hello?
Bess,
think fair trade
think organic
think shade grown
Amirite, or was I experiencing delirium tremens?
Signed,
Guy That’s Hungover
But I went to MIT and never lost money!!!!!!!!!!!
Anybody here?
anyone else notice db is not as fun without the comments? I mean, I loves my bessy, but you “people” in the peanut gallery…
Bess,
think fair trade
think organic
think shade grown
Amirite, or was it the delirium tremens earlier today?
-Red Wine Lazy Eye Guy
Cluzo/6,
What do you mean “people?”
-Guy that Shoots from the Hip, Re: Motive Examinations
@3 I have no idea. They’re “working on it.” Not really sure what the point of me coming in anymore is until it’s “worked out” so I’m off to a 10-gimlet lunch. Should make my afternoon’s posts interesting, should they ever see the light of day!
I miss the old DB. Fix this place.
I subscribe to DealbreakerPremium. What problems are we talking about?
This will get double posted or disappear into obscurity.
I could really use a 10-gimlet lunch.
@9/10 you need only click Submit once. just sayin
@5 Earth to Matilda…
I would like to cancel the Going Concern-esque font that is now being used in the headlines. This is a travesty.
Sounds like the IT department had a 10-gimlet lunch, am i right or what.
Seems like forever since it’s moved
Who let Greg Michaels run the IT department?
Who let Greg Michaels run the IT department?
Abey O Dealbreaker ke IT-walon! Aapne is website ki barabar gaand maradee. Yaar, seedhee sadhee website chalane mein itni jugaad kyon? Behenchod, duniya-bhar blog janta chala rahee hai, aur tum irma bhee nahi kar pa rage hi?
Jaldi se kaam khatam kar lo, warna Jeff Macke tumhara khoon pee jayega.
site is better without the comments – bunch of dorks its embarrasing
Is this a govt site?
I miss the old DB. Perhaps if I move up my drinking hour, this place will feel familiar and comfortable again.
@ tax chick- who cares if it looks slightly different? the only thing you should care about is whether or not the damn thing works. then we can talk aesthetics.
fuckkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkk
Let me show you Dealbreaker. It is a finance, a way of life inspired by the very homeless, the vagrants, the crack whores that make this wonderful site so unique.
@29 lay off the crack pipe
@28 Who says I was complaining about the look? Stop reading into my motives and examine your own.
I have it on good authority that John Thain cancels comments on Dealbreaker as well. IT dept desks stolen and replaced with card tables.
That’s it. I’ve had it. I’m going back to Yahoo finance.
funny thing is that these retards actually believed they were entitled to bonuses after working 20 hours a week and going bankrupt in 2009. What a fucking tragedy!
Does this fucking work yet?
Christ on crutches. Working? Testing. Testing. 1 2 tres, testing.
Must be the whole “social networking” thing that is gumming up the IT gearworks. Who cares if this is on Facebook or “Twitable”?I mean is Paris Hilton or Snoop Dog a target audience?
I want a hot dog, I want a hamburger…
You’ll get nothing and like it!