BBC: Some 70% of Swiss voters appear to have supported plans to give shareholders a veto on compensation and ban big payouts for new and departing managers, projected referendum results suggest. One of the organisers of the referendum, Brigitte Moser Harder, told the BBC she thought the Swiss people agreed with the proposals because the gap between rich and poor had become wider. "From the beginning, 2006, we had the support of the people of Switzerland because you know not everybody in Switzerland is rich." [more inside]
How do you split up $11 billion? That's enough to evenly split $500,000 per Goldman Sachs employee. It's bonus season on Wall Street. Extensive interviews with current and former Goldman Sachs employees and a best guess of how all of the money gets disbursed.
Talk about not getting it... "Polaroid Corp., which slashed jobs and retiree benefits before filing for bankruptcy protection in October, wants to reward top executives with up to $19 million in bonuses and incentives as it dismantles the instant camera and film maker to pay off creditors." Clueless or evil? You make the call...