Archive for January, 2009

Bloomberg Communications: The Gold Standard for Accountability in Bonuses

Thursday, January 29th, 2009

In my earlier post, I discussed the need for accountability in compensation and used the old partnership structure as an example of how Wall Street was held accountable in the past and could be in the future. This generated questions as to how to hold ordinary employees accountable in terms of pay. In many cases, [...]

$1 Million Offices, New Corporate Jets and Other FreePassers on Wall Street

Wednesday, January 28th, 2009

Recent headlines hitting the news over the last several days indicate that the FreePasser epidemic is alive and well on Wall Street and in corporate America. However, the scale of some of these abuses amaze even me.
The $1 Million Office
CNBC reporter Charlie Gasparino reported that former Merrill Lynch CEO John Thain spent $1.2 million to redecorate [...]

The Wall Street FreePasser Problem: Accountability is Still the Answer!

Monday, January 19th, 2009

My initial entry on the FreePasser epidemic afflicting our society seems to have accomplished its purpose, which was to increase awareness and to generate a thought-provoking reaction. This is designed to be a forum to discuss the problem and to generate potential solutions. Otherwise, we will not find a long-term answers to the current disaster [...]