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Bonuses

OPINION
January 15, 2010
Wall Street executives aren't famous for their humility, but they reached a new level of tone-deaf hubris in their recovery from the collapse of 2008. A number of top banks and investment firms have racked up outsized profits in recent months, sending their bonus checks through the roof. Goldman Sachs, for example, set aside $16.7 billion billion for employee compensation -- and that's just for the first nine months of 2009. This despite the fact that many of the same companies were in danger of going under just a year and a half ago, only to be rescued by federal bailout dollars and extraordinarily generous credit terms from the Federal Reserve.
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BUSINESS
November 29, 2012 | By Tiffany Hsu
Hostess Brands Inc., in the midst of winding down its business, is hoping Thursday that a federal bankruptcy judge approves up to $1.75 million in bonuses for its executives. The money is intended as an incentive for 19 top-level managers to stay on with the Twinkies and Ding Dongs maker to oversee its liquidation following a battle with its second-largest union. The payouts will be granted only if managers “achieve a set of specific tasks and goals within a specified time frame that are designed to speed and lower the cost of the wind-down,” said Hostess spokesman Lance Ignon.
CALIFORNIA | LOCAL
June 18, 1993 | DOUGLAS ALGER, SPECIAL TO THE TIMES
Teachers, librarians, counselors and administrators who retire from the William S. Hart Union High School District this year are eligible for a bonus critics say is now ineffective at promoting early retirement. The district's board of trustees on Wednesday night approved the Golden Handshake program, which some district leaders wanted to drop for 1993.
NEWS
July 18, 2013 | By Mary Forgione, Daily Deal and Travel Blogger
Two lodges inside Grand Canyon National Park are offering a late summer deal that add a bus tour and breakfast to the price of a room. The offer for stays at Maswik and Yavapai lodges is available for 15 days starting Aug. 25. The deal: The End of Summer package costs $174 a night for rooms at Maswik Lodge North and $159 at Yavapai Lodge East (prices exclude tax), based on double occupancy. It includes breakfast for two, a bus excursion for two - Hermits Rest morning tour or a sunset tour - and discounts on gift shop purchases of $50 or more.
BUSINESS
January 9, 2005
Regarding "Cash Registers Jingle to Wall St. Bonuses," Dec. 22: And we are planning to let these people handle our Social Security? David R. Clarke Rancho Mirage
CALIFORNIA | LOCAL
July 2, 2011 | By Gretchen Meier and Maria Hsin, Los Angeles Times
Hundreds of Burbank city employees have received a collective $4 million in bonuses since July 2007, according to documents the city fought in court to keep out of public view. The records released by city officials reveal a work culture built around that bonus system, which for some employees has amounted to tens of thousands of dollars in the last four years alone. It dwarfs a bonus program in Glendale, a city nearly twice as large, which distributed $1 million during a 10-year period to top managers.
CALIFORNIA | LOCAL
August 20, 2003 | From a Times Staff Writer
The Orange County Board of Supervisors voted Tuesday to eliminate a controversial performance-based bonus program for more than 400 of the county's deputy prosecutors, public defenders and other lawyers. The county grand jury and several supervisors have criticized the Performance Incentive Program bonuses, which have been given during the last three years to thousands of county employees.
BUSINESS
November 30, 2012 | By Tiffany Hsu, Los Angeles Times
Hostess Brands Inc., in the midst of winding down its business, won approval Thursday from a federal bankruptcy judge to give as much as $1.75 million in bonuses to its executives. The money is intended as an incentive for 19 top-level managers to remain with the Twinkies and Ding Dongs maker to oversee its liquidation. The payouts will be granted only if managers "achieve a set of specific tasks and goals within a specified time frame that are designed to speed and lower the cost of the wind-down," Hostess spokesman Lance Ignon said.
BUSINESS
November 20, 2007 | From Times Wire Services
Calpine Corp. plans to pay Chief Executive Robert May a $10.9-million stock bonus when it emerges from Chapter 11 Bankruptcy Court protection. The San Jose-based company also plans to pay about $66.6 million in emergence bonuses to about 2,200 eligible participants, including all full-time workers, the company said.
NEWS
December 10, 2000 | From Times Wire Reports
Ho! Ho! Ho! Merry bonus! Salaried employees at Universal Instruments Corp. in Binghamton were given bonuses equal to three months' pay, and hourly workers got bonuses of about 15%, somewhat less because they get overtime pay. The bonus payment--$11.6 million to 1,550 employees nationwide, most of them in New York state--was a record for the company, reflecting a year of huge demand on the maker of automation equipment for the electronics industry.
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