The German lender is proposing to raise the maximum bonus senior managers can receive to twice their fixed annual salary, double the current level. Deutsche Bank officials say the move is necessary so that the bank can comply with European rules on pay, while also competing for staff with U.S. rivals. They say that if the bonus increase is rejected, the bank would need to raise base salaries to retain top talent. But opposition to the proposals is mounting from shareholder groups who argue the payment is excessive and fosters improper behavior. Germany’s Schutzverein der Kapitalanleger, an organization of small shareholders, said it would vote against the proposal because it lifts the bonus cap indefinitely, rather than for a defined period subject to review. Another shareholder group, the Ethecon, said it plans to vote against Deutsche Bank’s proposal which “would further raise the already irresponsible and inhumane risk appetite level.” [WSJ]
You may know “Mesmeralda,” AKA Marni Halasa, from her other roles as the Bank Reform Bitch, Better Banking Butterfly, and Ethical Fiscal Fairy, among other things. Today she paid a visit to NYS Comptroller Thomas DiNapoli’s office at 59 Maiden Lane to “push for divesting from fossil fuel investments in the NYS Common Retirement Fund” and “knock some sense into” Mr. DiNapoli, leaving a strongly worded note outside the building, in case her message wasn’t clear. Read more »
Security Footage Reveals “Violent And Terrifying Criminal Stunt” At JP Morgan More Of A “Musical Presentation” Than Previously ThoughtBy Bess Levin
Last October, Reverend Billy (AKA Billy Talen) made his second appearance at JP Morgan. The first time the Reverend showed up at the House of Morgan, he protested the banks practices by putting a “holy hex” on the building. This time, he was there to draw attention to the House of Morgan’s financing of “mountain top removal, dirty coal, fracking, and other types of fossil fuel extraction,” which he did by entering 270 Park, along with members of his Stop Shopping choir who were dressed as frogs, heading up to the third floor (where wealth management offices are located), and belting out a tune on the subject. The Reverend delivered a sermon about JP Morgan’s role in climate change (via its investments), and his flock passed out informational pamphlets to clients and employees. Shortly thereafter, while waiting for the F train, Billy and his choir director Nehemiah Luckett were arrested and charged with riot in the second degree and menacing in the third degree, facing up to one year in prison a piece.* But earlier this week, God intervened: Read more »
If UBS Wants To Support Appalachian Mining, It’s Going To Have To Start Getting Used To These Protesters Chained To The Side Of The Building FirstBy Bess Levin
A platoon of protestors objecting to UBS’s support for mining operations in Appalachia have descended on the financial giant’s Stamford-based headquarters and unfurled a banner from a downtown construction crane. Following a morning of securing a large construction crane at a 15-story building going up on lower Summer Street, protestors with the group Hands off Appalachia and Capitalism vs. the Climate intruded into the UBS’s Washington Boulevard headquarters and some chained themselves to the outside of the building…The protestors associated with the group Hands off Appalachia and Capitalism vs. the Climate climbed the crane before work began Monday morning on the site of a 15-story building now under construction next to the Majestic Theater on Summer Street. Three people went out on a boom and two began hanging about 200 feet off the ground and unfurled a 40 foot by 60 foot banner protesting UBS’s support of a company involved with the blasting away of tops of mountains for minerals. The activists pulled the banner back in at about 11:30 a.m. after about 2 hours of allowing it to fly directly within view of UBS’s North American headquarters on Washington Boulevard…At about 11 a.m. police found two other people that they believe were associated with the protest that had walkie-talkies, repelling gear and cameras watching from the Bell Street Garage. Fontneau said those two have also been taken into custody. On their web site, Hands Off Appalachia is claiming responsibility for the banner and are displaying pictures on their website. On the website the group says, “To executives at UBS, the devastation of strip-mining might just be another set of numbers on one more piece of paper. To the people of Appalachia, it is a matter of life and death. Today, we are headed once again to Stamford to tell UBS that no one is collateral damage to their profits. Hands Off Appalachia will not rest until UBS stops enabling the destruction of Appalachia and its people and severs their relationship with coal companies that engage in mountaintop removal.” [Stamford Advocate]
Back in October, a man who goes by the name of Reverend Billy, AKA Bill Talen, appeared at JP Morgan to protest the bank’s financing of “mountaintop removal, dirty coal, fracking, and other types of fossil fuel extraction.” He did so by entering the building, along with members of his Stop Shopping choir who were dressed as frogs, heading up to the third floor (where wealth management offices are located), and belting out a tune on the subject. The Reverend delivered a sermon about JP Morgan’s role in climate change (via its investments), and his flock passed out informational pamphlets to clients and employees. They exited stage left and shortly thereafter, Billy and his choir director were arrested while waiting for the F train.
This was not the first time Reverend Billy publicly took issue with what JP Morgan does with its money (in June 2010 he put a “holy hex” on the bank), nor was it a first time a man of the cloth paid a visit to the House of Dimon (in March 2011, a church group led by one “Bishop Cush” performed an exorcism on the steps of 270 Park Avenue, sprinkling holy water on the building in an effort to “chase the demons out of Chase”).
But something about this particular exercise struck a chord and now, the Reverend is facing up to 1 year in prison. That’s where you come in. Read more »
What they lack in numbers they make up for in signage, flyers, and to the point demands (“GTFO”…of your investment in a company that wants to mine gold in a Romanian village). Read more »
Confidential To HSBC: Bank Reform Bitch/ Spandex-Clad Roller Girl/ Better Banking Butterfly/ Ethical Fiscal Fairy Is Comin’ At Ya Thursday AMBy Bess Levin
She’s got a money fan and she’s not afraid to use it. Gird your loins. [Twitter]
Related: Spandex-Clad, Billy-Club Brandishing Roller Girl Also Moonlights As ‘Ethical Fiscal Fairy’; Spandex-Clad Roller Girl Was Not Only Prepared To Put Citi Execs Over Her Knee But Read Them Their Rights; Blow-Up Jamie Dimon Recieved An Ass Kicking Today; Noted ‘Bank Reform Bitch’ Also Makes Appearances As ‘Desperate for Justice Housewife’; Bank Reform Bitch/ Ethical Fiscal Fairy/ Spandex-Clad Roller Girl/ Better Banking Butterfly Weighs In On Derivatives; Bank Reform Bitch/ Spandex-Clad Roller Girl/ Better Banking Butterfly/ Ethical Fiscal Fairy Pays Jamie Dimon A House Call
The line forms to the left! Read more »