Citi felt bad that brokers couldn't go to the Bahamas on the public dole, gave them $13 M instead

[marmar]

via HuffPost:



Citi Said To Have Paid $13 Million To Brokers After Cancelling Corporate Trips, Perks
March 9, 2009 01:22 PM


According to Bloomberg, Citigroup paid 1,900 insurance brokers at its Primerica Financial Services unit a total of $5,000 each after it scrapped a trip to a Bahamas resort.

The $9.5 million payout came after Primerica canceled the Bahamas jaunt for its top-performing brokers after receiving $45 billion in government rescue funds.

In a related story, some 2,000 Smith Barney brokerage advisers got debit cards valued at $1,000, $2,000 and $3,000 for various canceled getaways for an additional $3.5 million in total compensation, the New York Post reported.


http://www.huffingtonpost.com/2009/03/09/citi-paid-13-million-to-b_n_173133.html

[louis-t]

1. Primerica? The pyramid scheme Primerica?

I knew some people who were involved in that 15 years ago. They kept calling me over and over to try and sell me the 'product'. It was a pyramid scheme.