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Wednesday, December 31, 2008

Money The Sacrifice

Posted by Charles Mudede on Wed, Dec 31, 2008 at 3:39 PM

Citigroup Inc.'s chairman and chief executive won't receive bonuses for 2008, as part of a series of moves the company announced Wednesday as it formalized its bailout agreement with the U.S. government.

Citigroup Chairman Win Bischoff and CEO Vikram Pandit, along with director and senior counselor Robert Rubin, are foregoing their annual bonuses. Bonuses for other top executives will be "reduced substantially," Mr. Pandit said in a memo to Citigroup employees Wednesday.

Are we supposed to be impressed by this? Amazed to the point of clapping hands? Nigga, please!!!

Comments (9) RSS

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When they think we aren't watching anymore, the astronomical bonuses will quietly go back into effect.

Bank on it!

Posted by blackhook on December 31, 2008 at 3:49 PM

LOL at this pre-dating (timing) Eli's N***a Please post

Posted by Non on December 31, 2008 at 3:53 PM

So, why haven't their salaries gone down if they have fewer employees?

And why haven't their other compensation (which is sometimes mulitples of their salary) also reduced?

Just asking - CEOs make 20-30 times base pay of lowest employee salary in Japan/Asia and maybe 30-40 times in Europe. Nobody deserves 400-500 times base salary.

Posted by Will in Fight The Power Seattle on December 31, 2008 at 4:27 PM

The headline should have been "Win Loses"

Posted by Urgutha Forka on December 31, 2008 at 4:52 PM

@ 3: look out, here come the objectivists!

Posted by Max Solomon on December 31, 2008 at 5:06 PM

But if we don't pay out exorbitant bonuses, how will we ever attract the brightest minds? It takes TALENT to fuck up the country this badly! Or do you think the economy's just gonna screw itself?

Posted by Jay Andrew Allen on December 31, 2008 at 6:47 PM

Boo hoo. *sniffle* The poor dears have to give up their bonuses. My heart bleeds.

What really baffles me is why these unmitigated fuckups still have a job at all, much less bonuses.

Posted by Reverse Polarity on December 31, 2008 at 7:08 PM

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Posted by Rock n Roll Nigger on December 31, 2008 at 10:05 PM