March
2010
Sunday, February 07, 2010
Tomoeh Murakami Tse, Washington Post

Goldman Sachs CEO Blankfein gets stock-based $9 million bonus

Goldman Sachs said Friday that its chief executive, Lloyd Blankfein, received a stock-based bonus of $9 million in 2009

Goldman Sachs said Friday that its chief executive, Lloyd Blankfein, received a stock-based bonus of $9 million in 2009, ending weeks of speculation about how much the New York-based investment bank would dole out amid rising public anger over Wall Street pay.

The amount, although eye-popping by Main Street standards, is smaller than the stock-based bonuses his rivals received for 2009. On Friday, J.P. Morgan Chase said it would award $17 million to chief executive Jamie Dimon.

In a regulatory filing, Goldman said Blankfein received restricted stock Friday worth just shy of $9 million based on the firm's closing share price of $154.16. Two years ago, Blankfein set an industry record by receiving a $68 million bonus, about a third of it in cash, after his firm made $11.6 billion. He took no bonus in 2008, when profits plunged during the financial crisis.

For 2009, Goldman reported a record profit of $13.4 billion. The firm's $16.2 billion compensation pool for 2009, which includes pensions and other benefits, translates to nearly $500,000 an employee.

Ever the populist, Blankfein turned down his 2008 bonus, a reported $43 million, due to "poor job performance" and simply accepted his $600,000.00 salary. In 2007, Blankfein set an industry record by receiving a $68 million bonus on top of his half million dollar per year salary.

Posted by Editor on 02/07/10 at 01:26 PM •  (0) Comments

Related Scoundrals

Comments

You must be a member to post comments.  Register Now! • Log In
Get Your Vile Schwag Today!
Vile Quotes

"I've been stereotyped my whole life, ... ... It's actually not driven by Detroiters only. It's driven by the media. It's driven by the entire region. The 'us against them,' the 'black and white thing' is getting old."
Kwame Kilpatrick

graphic
Vile Comments

we have added some new pieces to the range too - this delivery we have included the gorgeous Pink Crochet Shrug, which goes with absolutely everything and is the perfect piece for the top layer and also the Dusty.cartier

graphic