Bonuses at LEH are down 100 percent.
If you are Dick Fuld. Bloomberg reports that the CEO will go without this year in an effort to "prepare his guys for what's coming for them. He's setting an example because the troops will also get shrunk bonuses." Probably also 'cause he's trying to save his ass from going the way of Erin Callan but whatever, details. This is about morale!
Lehman's Fuld, McDade to Forgo Their 2008 Bonuses [Bloomberg]
You might be asking yourselves, Why are there full episodes of a seminal television show at the end of each post? Well, last night I was agonizing about how suicidal our readers must be over the market being down three percent and bonuses being an 1/8th of what they were last year and thought, what can I do to cheer them up? Herewith, please enjoy these entire episodes of Alf, on me.