Goldman CEO, 6 others forgo 2008 bonuses

[dkf]

NEW YORK (Reuters) - Goldman Sachs Group Inc (NYSE:GS - News) said on Sunday its Chief Executive Lloyd Blankfein and six other top officials will not get bonuses for 2008.
Lloyd Blankfein, Chairman and CEO of Goldman Sachs & Co., speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange in this June 27, 2007 file photo. Goldman Sachs Group Inc said on Sunday Blankfein and six other top officials will not get bonuses for 2008. REUTERS/Chip East

Lloyd Blankfein, Chairman and CEO of Goldman Sachs & Co., speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange in this June 27, 2007 file photo. Goldman Sachs Group Inc said on Sunday Blankfein and six other top officials will not get bonuses for 2008. REUTERS/Chip East


Blankfein, Presidents and Co-Chief Operating Officers Jon Winkelried and Gary Cohn, Chief Financial Officer David Viniar, and three vice chairmen -- J. Michael Evans, Michael Sherwood and John Weinberg -- asked the board's compensation committee Sunday morning that they not receive a bonus, spokesman Lucas van Praag said.

The compensation committee met and agreed, Praag said.

The executives will only be eligible for a base salary of $600,000 each, the Wall Street Journal reported.

Last year, Blankfein made $68.5 million, Winkelried and Cohn got $67.5 million, and Viniar got $57.5 million. The compensation of the other three was not disclosed.

New York Attorney General Andrew Cuomo said Goldman had taken "an important step in the right direction."

http://finance.yahoo.com/news/Goldman-CEO-6-others-forgo-rb-13588476.html

[cliffordu]

1. Garsh, that's big of them....

:sarcasm:

[dkf]

4. Yeah its kind of laughable.

Only 600k. Makes you wonder what they were entitled to under the old agreement.

[aquart]

2. What heroes! (Putting the tar and feathers away till next year.)

[slinkerwink]

3. Goldman Sachs actually is a progressive company. My sister-in-law worked for them.

[Veritas_et_Aequitas]

5. Hmm. Very well. You've bought my goodwill until New Years.

[babylonsister]

6. "The executives will only be eligible for a base salary of $600,000 each"

Poor them, what a sacrifice.

[MichiganVote]

7. Oh gee boys...how many people are w/o a salary at all no thanks to you scumbag bastards

[foo_bar]

8. if "corporate governance" weren't an oxymoron the board would have pulled the plug years ago

Instead the CEO has to beg them to slap his wrist, stop me before I loot again!

[ColbertWatcher]

9. Good for them. Let's see all of them do it too. n/t

[boomerbust]

10. Easy rhing to do

When you have 100 million in CD's

[Swamp Rat]

11. Not good enough.

They should give back ALL the money they made over the last 8 years AND be tarred and feathered.

[TripleKatPad]

12. What a noble thing to do!

I'm sure all the thousands of people who have lost their jobs due to their greed will support this brave sacrifice down to 600k. You go, greedboys! Way to support the country!

[hatrack]

13. Aw, how fucking noble - they'll have to somehow squeak by on $600,000/year

:puke: on these assclowns.

[Merlot]

14. Last year, Blankfein made $68.5 million...

Winkelried and Cohn got $67.5 million, and Viniar got $57.

This year they'll have to "survive" on 600k. Are we supposed to be impressed that they requested to not rec'v bonus? I'd be impressed if they donated those millions to the needy. Set up a foundation. Gave it back. Anything.

I wonder how much their bonus would have been this year.

How much money is enough?

[FKA MNChimpH8R]

16. Those figures demand a return of guillotines

and confiscation of every nickel these fucking vampires have collected in the last ten years.

[rug]

15. Last year these three asses alone made the same as the GDP of Tonga

http://www.nationmaster.com/graph/eco_gdp-economy-gdp

[4lbs]

17. How about, since each has already gotten $50+ million last year, that they

work "for free" for the rest of their lives?