"Hemorrhaging losses, Morgan Stanley, Merrill Lynch and Bear Sterns had to increase the percentage of revenue they devote to pay to ladle out these bonuses. So much for pay for performance."
That's Robert Borosage at the Campaign for America's Future. Click through to see his response to the breathtaking comment from a headhunter firm: “It’s essential that pay is still there or you’re going to lose really good people.”
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