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Wall Street traders brace for meager bonus checks

“While $0 bonus checks are still relatively rare, Wall Street banks are trying hard to keep a lid on compensation costs more broadly” reports foxbusiness.com. Some traders at the largest Wall Street banks are about to get big, fat zeroes for bonuses while they watch markets thrive. “We foresee a softening in the bonuses at the Wall Street banks,” he said.The big five Wall Street banks – JPMorgan Chase & Co, Citigroup, Bank of America, Goldman Sachs and Morgan Stanley – reported an average revenue decline of 32 percent for…

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Some Wall Street traders are about to get big, fat zeroes for bonuses

“Some traders at the largest Wall Street banks are about to get big, fat zeroes for bonuses while they watch markets thrive” writes unknown author for cnbc.com. “We foresee a softening in the bonuses at the Wall Street banks,” he said.While $0 bonus checks are still relatively rare, Wall Street banks are trying hard to keep a lid on compensation costs more broadly.The big five Wall Street banks – JPMorgan Chase, Citigroup, Bank of America, Goldman Sachs, and Morgan Stanley – reported an average revenue decline of 32 percent for…

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Louis van Gaal reveals he turned down Belgium job to get revenge on ‘mean and low’ Manchester United  

“Louis van Gaal has admitted he turned down the chance to manage Belgium so that he could continue to receive compensation for being sacked by Manchester United” writes Paul Hayward for telegraph.co.uk. After his sacking in July 2016, Van Gaal would have foregone his compensation from Manchester United by taking another a job offer.”It would have been really great if I had become Belgium national coach, but I was so resentful and vindictive that I let that job go by,” said Van Gaal. Source: telegraph.co.uk Share This:

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Czech government backs taxation of church restitution

“The government announced its decision Wednesday, when it was also supposed to face a confidence vote in Parliament” reports foxbusiness.com. The proposal to tax compensation given to churches came from the Communist Party, a vocal opponent of the payment plan. The move, which needs parliamentary approval, is seen as an attempt from Babis to win support from the Communists in the confidence vote.The new Czech minority government led by populist billionaire Andrej Babis agreed with a proposal to tax the compensation that the country’s churches receive for property seized by…

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GoPro cuts over 250 jobs and reduces its CEO’s cash pay to $1 in huge restructuring plan

“GoPro also announced that Woodman would reduce his 2018 cash compensation to $1” writes Finanzen Net Gmbh for businessinsider.com. “Our December 10 holiday price reduction provided a sharp increase in sell-through.”. GoPro additionally announced that Charles Prober, its chief operating officer, and Sharon Zezima, its general counsel, were leaving the company.GoPro is cutting more than 250 jobs and leaving the drone industry in an attempt to return to profitability by the second half of this year. Source: businessinsider.com Share This:

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Apple CEO Tim Cook got a raise in 2017 as revenue growth returned

“AAPL, +0.02% paid Chief Executive Tim Cook more in 2017 as the iPhone maker’s revenue returned to growth after a decline in 2016” writes Jeremy C for marketwatch.com. In 2016, Cook received a $5 million bonus after Apple’s financial performance declined slightly, and had total compensation of $8.75 million. Cook did not receive a stock award and received $440,000 in other compensation such as private plane rides, which Apple began requiring of Cook in 2017 due to safety concerns.According to Apple’s annual proxy statement, which was released Wednesday afternoon, Cook…

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Vacation Perks and Retirement Benefits Are Propelling Worker Pay Packages

“Employers are spending more on vacation perks and retirement contributions, helping to propel overall compensation package growth to its fastest pace in two years” writes Eric Morath Wsj for wsj.com. Private-sector workers’ average hourly compensation, including both pay and benefits, advanced 4% from a year earlier in the third quarter, according to new Labor Department data. Source: wsj.com Share This:

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Federal workers poised to take a hit, including loss of paid holidays

“The authors begin by citing three studies indicating that federal compensation is higher than private-sector compensation by at least 16 percent” reports washingtonpost.com. They ignored Federal Salary Council data saying federal workers earn 34 percent less, on average, than comparable private-sector employees.The central thesis is that federal workers are overcompensated compared with those in the private sector. Source: washingtonpost.com Share This:

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As Music Industry’s Fortunes Rise, So Do Warner Music Group’s Executive Payouts

“In both instances, Bergen would also receive whatever his payout is from the free cash flow pool that year” writes Ed Christman for billboard.com. In both instances, he would also receive whatever his payout is from the free cash flow pool that year.Or, they can receive a specified percentage of a free cash flow pool (the amount of cash generated from operations and left over after all cash-based expenses are paid).In the last four years, the free cash flow pool has grown to $481 million in 2017 from $321 million in 2016;…

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‘WINTER MAY BE COMING’: Wall Street report warns fund manager pay is headed for a reversal

“Life was good for Wall Street asset managers in 2017” writes Graham Rapier for businessinsider.com. According to an annual report by intelligence firm Greenwich Associates, average compensation for asset managers in the United States is set to increase 7% from 2016 to this year.The firm warns that “these heady days are likely an Indian Summer” and that “winter may be coming, so asset management firms and professionals should prepare.”. Not surprisingly, technology and data were two bright spots in the report, fueled by increased spending on cost-saving solutions. In both…

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