GOP Grumbles as GM Spends $500M on Bonuses

February 29, 2012, 2:31 am

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General Motors had a great year last year— making a record profit and reclaiming its crown as the world's biggest automaker —but some lawmakers aren't happy about its plans to reward its workers. The company plans to pay bonuses of at least $182 million to white-collar workers today, on top...

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Inside Bankers' 'Malaise' Over Slashed Bonuses

March 3, 2012, 5:00 pm

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Wall Street bankers received smaller bonuses this month, and it is really hard for them. If you're having trouble dredging up any sympathy, perhaps that's because you just don't understand what it's like to be in the 1%: "People who don’t have money don’t understand the stress," one Marks Paneth...

MF Global Execs to Still Get Bonuses

March 9, 2012, 5:06 am

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MF Global may have gone down in a ball of flames, but its chief operating officer, chief financial officer, and general counsel are all likely to get six-figure performance-based bonuses anyway, the Wall Street Journal reports. All three execs stuck around after the crash to help trustee Louis Freeh deal...

Banker Busted for Role in Financial Crisis

September 27, 2012, 12:19 am

≫ Next: Hostess to Dole Out Up to $1.75M in Exec Bonuses

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A former Credit Suisse banker accused of contributing to the 2008 financial crisis in an effort to boost his bonus has been arrested in Britain and faces extradition to the US. Kareem Serageldin, who was arrested outside the US Embassy in London, allegedly inflated the values of mortgage-backed securities as...

Hostess to Dole Out Up to $1.75M in Exec Bonuses

November 30, 2012, 5:53 am

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Hostess executives are in for a sweet finish: A federal bankruptcy judge yesterday gave the company the OK to hand out as much as $1.75 million in bonuses to 19 corporate officers and high-level managers. The bonuses are intended to serve as a carrot to keep these employees with...

Wall Street Braces for Dismal Bonuses

December 9, 2012, 9:05 am

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Poor little Wall Street: The New York Post is reporting that the 2012 bonus season is likely to be a lean one—at least by the Street's standards. It seems your average Wall Streeter will be taking a 16.5% hit over last year's bonuses, and a 50% drop since...

Yahoo Gave Marissa Mayer $1.1M Bonus After 6 Months

March 7, 2013, 9:05 am

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Marissa Mayer got a pretty sweet six-month anniversary gift from Yahoo: She spent just half of 2012 as CEO, and got a $1.12 million cash bonus for her troubles, CNNMoney reports. She also received restricted stock worth $13.3 million, according to company filings. This year Mayer, who started...

Banks Reel In Execs' 200% Bonus Limit to ... 150%

April 23, 2013, 9:28 am

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Fearing too much risk-taking, the Federal Reserve has been calling on banks to cut down on the bonuses execs can get for blowing past their financial targets—and some top banks are following through. PNC, Capital One, Discover, and four other major financial firms are doing just that, the Wall...

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AIG Chief: Bonus Backlash 'as Bad' as Lynchings

September 25, 2013, 8:16 am

≫ Next: Firm Pays Out $61K in Bonuses ... in $2 Bills

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Doing nothing to help rehabilitate the public image of bankers, AIG's CEO Robert Benmosche has sparked outrage by comparing backlash over the millions in bonuses the company paid staff in 2009 to racist lynchings. The uproar "was intended to stir public anger, to get everybody out there with their pitch...

Firm Pays Out $61K in Bonuses ... in $2 Bills

June 17, 2014, 9:08 am

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A Nebraska bullet-manufacturing company likes to make its bonuses memorable. A few years ago, a portion was distributed in $1 coins, but they were a bit heavy to haul around—so this year, Hornady Manufacturing opted for $2 bills. Bosses handed out $61,000 worth of the rare bills, an...

CEO Sells Company, Gives Employees 'Life-Changing' Bonus

August 2, 2015, 10:07 am

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The founder of one of Turkey's most successful brands, the food delivery company Yemeksepeti, in May sold his 15-year-old company to Germany's Delivery Hero for $589 million. He's quite literally sharing the wealth: $27 million is going to 114 of the company's 370 employees. "Yemeksepeti's success story did not happen...

Texas Company Rewards Employees With $100K Bonuses

December 9, 2015, 12:21 pm

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Fortune named Houston's Hilcorp Energy as the 20th best place to work in the US last year. And boy were they not kidding. The Houston Business Journal reports the oil and gas company recently handed out $100,000 bonuses to every employee as a reward for meeting the company's five-year...

Everything Is Awesome for Lego Employees This Christmas

December 19, 2015, 1:00 pm

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You know who might like Legos even more than your kids? The company's employees. That's because Lego is giving more than 17,000 employees around the world an extra month's salary in January, the Copenhagen Post reports. A Lego spokesperson says to think of it more like a reward for...

Facebook to Pay Each UK Worker $1.1M Bonus

March 7, 2016, 9:30 am

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Facebook has found a creative way to drastically bring down its tax bill in the UK: Pay each employee who works there a million bucks, NBC News reports. As first noted in the Sunday Times , the company will pay out nearly $397 million in bonuses to UK staffers, which comes...

Bonuses for Wall Street Bankers Drop Most in 4 Years

March 8, 2016, 6:11 am

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For Wall Street bankers, 2015 didn't turn out as well as it usually does in terms of bonuses. Per Bloomberg , the average bonus fell 9% last year to $146,200, which is the largest decrease since 2011, according to estimates by NYS Comptroller Thomas DiNapoli. As the Washington Post notes,...

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Cops: Auto Shop Gives Meth as Employee Bonuses

April 21, 2016, 4:20 pm

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Police are investigating after a Minnesota auto body shop gave its employees methamphetamine "bonuses," the Smoking Gun reports. Police say 40-year-old Jesse Seifert, owner of Clear Choice Auto Body Repair in Mankato, held a meeting this week and had his girlfriend, 39-year-old Nancy Loehlein, hand out a half a gram...

Defense Dept. Will Stop Seeking Repayment of Vets' Bonuses

October 26, 2016, 8:45 am

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US Defense Secretary Ash Carter has ordered the Pentagon to stop seeking repayments of enlistment bonuses given to California National Guard members who served overseas. His decision comes in the wake of angry reaction from members of Congress who demanded he relieve the burden on the Guard members, reports the...

GM Workers Earn Record-Setting Bonus

February 7, 2017, 3:30 pm

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Score one for unions. The Detroit Free Press reports 52,000 hourly workers at General Motors will receive an up-to-$12,000 bonus later this month after the company netted a $12 billion profit in North America last year. The bonuses are part of a profit-sharing agreement negotiated by the United...

CEO Who Ranted Against Kathy Griffin Sees Bonus Cut

September 21, 2017, 10:39 am

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One of the nation's biggest homebuilders is putting its top executive on notice after a vulgar rant against comedian Kathy Griffin was caught on tape and went viral. KB Home CEO Jeffrey Mezger, who's a neighbor of Griffin's in California, was recorded by a security camera hurling slurs against Griffin...

Merry Christmas, Staff, Enjoy Your New ... Handguns

November 14, 2018, 10:48 am

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The employees at BenShot could've received an end-of-year cash bonus as a Christmas gift from their employer. Instead of giving workers $500 to pocket, however, the Wisconsin company wanted to try something different by offering a "perfect" present to each of its 16 full-time employees: a handgun. It's the first...