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Ten Grand

Edgy DC Oct 14 2009 01:35 PM

Welcome back to five digits, Dow Jones.

TransMonk Oct 14 2009 01:50 PM Re: Ten Grand

Yea for the DJI.

metirish Oct 14 2009 01:50 PM Re: Ten Grand

Big Xmas bonuses coming our way.

Edgy DC Oct 14 2009 02:02 PM Re: Ten Grand

Yeah, baby, 10,015. http://www.google.com/finance?client=ob&q=INDEXDJX:DJI

Benjamin Grimm Oct 14 2009 02:10 PM Re: Ten Grand

This is nice. A big chunk of my 401(k) losses have been restored. (No guarantee it'll stay that way, of course.) If I was closer to retirement age, I'd start thinking about shifting my investments to less of a reliance on the stock market.

metirish Oct 14 2009 02:11 PM Re: Ten Grand

[quote="metirish":32yrxnc2]Big Xmas bonuses coming our way.[/quote:32yrxnc2] Not for us of course..... headline today Goldman Sachs to pay mind-blowing $23 billion in holiday bonuses, one year after taxpayer bailout In an attempt to avoid backlash, the bank will reportedly award the billions of bonus bucks in stock, not cash, to make the payouts seem smaller. Executives may also make a $1 billion charitable donation in bonus season to take away some of the heat.

Benjamin Grimm Oct 14 2009 02:15 PM Re: Ten Grand

[quote="metirish":s8t1qsyx]Executives may also make a $1 billion charitable donation in bonus season to take away some of the heat.[/quote:s8t1qsyx] I'm going to do that too. Just to, you know, show solidarity with the billionaire executives.

Nymr83 Oct 14 2009 02:20 PM Re: Ten Grand

Goldman Sachs to pay mind-blowing $23 billion in holiday bonuses, one year after taxpayer bailout newspapers love to write headlines to make people angry, but can they (whoever this figure came from) tell us how much of that is going to people who work in the areas that caused these companies to need bailing out? because the guy who is making the firm money investing in precious metals or whatever doesnt deserve to lose his bonus just because the mortgage people fucked up royally.

metirish Oct 14 2009 02:22 PM Re: Ten Grand

Here is the article in full Goldman Sachs is set to pay out a mind-blowing $23 billion in holiday bonuses - just a year after they received billions in bailout money from U.S. taxpayers. In an attempt to avoid backlash, the bank will reportedly award the billions of bonus bucks in stock, not cash, to make the payouts seem smaller. Executives may also make a $1 billion charitable donation in bonus season to take away some of the heat. "Given the rules, they earned it," said Peter Siris, an investment manager at Guerrilla Capital in Manhattan and a columnist for the Daily News' Your Money section. "The problem is they earned it because the taxpayers helped them out. It bothers everybody to see the kind of money they're making, but you can't go back and reset the rules." At least 50% of bonuses are typically paid in cash. Lower-level employees likely get only about 20% in stock. Goldman was one of eight major banks that got Treasury Department bailout money amid one of the worst periods of last year's credit crisis. During that time, Goldman fired 10% of its workforce - more than 3,200 employees. This year's bonuses are twice as much they were a year ago. It's a larger bonus pool than any other year in the bank's 140-year history. Goldman repaid its $10 billion in bailout money in June after they saw profits soar in the spring. The firm made $3.44 billion, almost $5 a share, in the second quarter and is expected to report third-quarter profits of $4.24 per share tomorrow, up 57%. Goldman CEO Lloyd Blankfein and six other top executives decided to forgo their bonuses last year. In 2007, Blankfein took home an extra $68.5 million at the end of the year. New York Attorney General Andrew Cuomo has fought against giant bonuses for Wall Street executives, but there has been little legislation to reform executive compensation since the bank bailout. In 1980, the average CEO made 42 times what the average worker took home. Since then, the disparity has grown at least tenfold. Goldman Sachs won't be the only bank paying big bucks to employees this year. Bloomberg News reported last week that a third of Wall Street bankers expect their bonuses to increase from last year. sgoldsmith@nydailynews.com

Farmer Ted Oct 14 2009 03:01 PM Re: Ten Grand

Corporations are lowering quarterly expectations making everyting look rosy. The market is getting bloated. Another bubble, just not as big.

John Cougar Lunchbucket Oct 14 2009 03:15 PM Re: Ten Grand

Unemployment is still stupid. It's a "trailing indicator" but it hasn't stopped rising yet.

Edgy DC Oct 14 2009 05:00 PM Re: Ten Grand

Well, in fact, I imagine some will tell you that the "higher than expected" earnings posted by some corporations may just reflect a short-term dividend from cutting jobs. If those profits aren't re-invested, there may or may not be a productivity drop that makes this unsustainable. Anyhow, should I care if execs are receiving stock bonuses? If they're not worth it, then their bonuses won't be either, right?

Kong76 Oct 14 2009 06:44 PM Re: Ten Grand

Irrational exuberance, Dow will be around 8,500 by year's end. Or 11,500. I'm never wrong sometimes.

Nymr83 Oct 14 2009 07:56 PM Re: Ten Grand

I'm never wrong sometimes. channeling Yogi?

Edgy DC Oct 30 2009 01:51 PM Re: Ten Grand

____ [bigpurple:mvifk91v]9747.8[/bigpurple:mvifk91v] Hey Dow: BOOOOOO!!!!

Edgy DC Nov 05 2009 11:57 AM Re: Ten Grand

9,980.11 Come on, sucka. Let's have a five digit weekend. I need the psychological lift, meaningless in practical terms, of turning that odometer over one more time.