Oh man

[Joe]

I'm not referring to a bonus paid to a performing employee, at a solvent firm, in a profitable year.

I'm referring to this year, at an insolvent firm, in a unprofitable year, where taxpayer dollars kept your firm afloat.

Here's my question:
If a firm got TARP money, and used it to pay bonuses - are you ok with that?

[RIJIMMY]

Originally Posted by Joe

I'm not referring to a bonus paid to a performing employee, at a solvent firm, in a profitable year.

I'm referring to this year, at an insolvent firm, in a unprofitable year, where taxpayer dollars kept your firm afloat.

Here's my question:
If a firm got TARP money, and used it to pay bonuses - are you ok with that?

yes. As in the article I posted, this is ALL employees, secerataries, mail room, managers, etc. This $ helps the economy more than any tax rebate will.

I am also ok with the Big 3 automakers offering bonues for salesmen and dealershiops who have high sales. Do you think that all commissions and bonuses should be stopped by the automakers too?

[Joe]

I'm satisfied with the yes answer. It's very revealing - I'm glad you feel that way.
One could argue that the main reason for the auto bailout was because there was no credit available....but I'm not going to argue that.
Speaking of the WSJ, did you catch Rush Limbaugh's Op-Ed piece in the Wall St Journal on 1/29?

[RIJIMMY]

you're getting hung up on the word bonus as in "extra"
For many, bonus is equal to compensation. It was earned, not extra. These people do not get overtime pay, they dont get travel pay. take away the bonus and many would be making $ way less than their experience and work level. You'd have all sorts of legal and HR issues.

For example Joe - I'm not sure if State Street Bank was part of the bailout, but I spoke to a friend that worked there over the weekend. His team has been killing themselves over the last year for the IBT conversion, many weekend, many long hours. State Street should be paying bonues in March. He and his team are worried that SSB may not pay bonuses this year. They lived up to their end of the deal and are afraid SSB may reneg. Do you think they should just suck it up and be happy they have a job? They did the work, they should get paid.

If these firms say NOW that there will be no 2009 bonus, thats fine. But this was an agreement and the employees delivered on their end the companies should too.

As far as Limbaugh, I have never read or listened to a word he has said.