Barclays is braced for further job losses at its investment bank, as the re-shaping of the bank continues, sources close to the matter said.» Read More
Investors still seem to think Apple is worth something. Shares of the computer giant are holding strong so far today--as the company released information saying it found NO misconduct by CEO Steve Jobs in regards to backdating stock options between 1997 and 2001. But--not all is well with Jobs and Apple according to Christopher Whalen. He's senior vice-president at Institutional Risk Analytics.
On this final day of what has been a banner year for stocks, the market is looking set for a lower open. European markets are mostly lower. Tokyo closed the year with the Nikkei up 6.9 percent, its fourth up year and its longest winning streak since the late 1980s. Oil is weaker this morning.
As we reported this morning, John Edwards – the Democratic vice presidential candidate in 2004 – announced his bid for the presidency in 2008 today while in New Orleans. CNBC’s John Harwood and Newsweek White House correspondent Richard Wolffe were on “Power Lunch,” discussing what an Edwards win would mean for Wall Street.
Bear Stearns joins Goldman Sachs Group and Morgan Stanley as Wall Street banks announcing big bonuses.
Goldman Sachs reportedly gave Treasury Secretary and former Goldman chief executive Henry Paulson a $45 million bonus this year, on top of $53.4 million salary and bonus it gave current CEO Lloyd Blankfein for fiscal year 2006
In the world of alternative investments, they use alternative methods of compensation. Base and bonus don't accurately represent what these folks are making. Hedge fund pay, the focus of my Power & Money report today, is the perfect example. The average pay for a CEO was $4.5 million, according to Infovest. The average pay for a portfolio manager: $2.5 million. But what these numbers don't include is the fattest part of the paycheck...
There’s nothing like a year-end bonus from an employer. Of course, most workers will never see $100 million for all their hard work. But some at Goldman Sachs might. That company has $16.5 billion in its bonus pool alone, and there’s talk that certain division heads will see close to nine figures. Rich Blake of Trader Monthly was on “Power Lunch” to tell us who at Goldman hit pay dirt.
Morgan Stanley gave chief executive John Mack $40 million in stock and options for 2006, reflecting the largest bonus awarded to a Wall Street CEO.
Goldman Sachs isn't the only firm that will be paying its top people extraordinarily well for their work in 2006. A senior executive at Merrill Lynch says the bonus pool there is huge as well; about 30% larger than last year.
Shares of Home Depot slipped in early trading after the world's largest home improvement retailer said on Wednesday it had found almost 20 years of option grant backdating, resulting in about $200 million of unrecorded expenses.
Former New York Stock Exchange Chief Dick Grasso won't have to pay back his massive compensation package -- at least not yet, according to CNBC's Charles Gasparino. The New York State Appellate Division has ordered a "stay" of the recent summary judgment from State Supreme Court judge Charles Ramos that could have forced Grasso to repay more than $100 million of his compensation that is a subject of a civil case brought by New York State Attorney General Eliot Spitzer.