In the face of economic crisis, Goldman Sachs CEO Lloyd Blankfein and 6 company leaders have decided to not take their 2008 bonuses, according to a company spokesperson on Sunday. They cited the company’s poor performance as the reason why.
Duh!
They better not take OUR cash, especially after they accepted money from the government bailout!
It’s a big change from last year, when even with a mortgage crisis threatening the company, Blankfein took a record-breaking $68 million bonus on top of a $600,000 salary.
The company has lost 70% of its value since the beginning of the year.
In October, Goldman Sachs received $10 billion from the government as part of its bailout plan. The plan calls for restricted bonuses.
It’s going to be a lean holiday season!
-
Categories
