Column: On the trail of bankers’ bonuses


There is a question about what happens to the bonus money bankers receive this year.

Will they return to flashy spending or invest it more conservatively, Paul Sullivan asks in his recent New York Times column.

Bonus pools are climbing again. Goldman Sachs recently disclosed that its average employee would receive nearly $500,000 in bonus and compensation, up from the $340,600 per employee it paid last year.

In past years, the cliché image of bonus season was of a flush banker walking into a Maserati dealership and driving out in his new toy. That type of spending will be more the exception than the rule this year, advisers said, for two reasons - and neither of which has to do with public perception.

The first is the need to have cash on hand to cover basic expenses and the second reason is the uncertainty of bankers over how much of their bonuses they will actually get, and when they will get it, Sullivan wrote.

Click here for the full column.


Snapper Quotas in Flux Again

NOAA Fisheries wants Gulf Coast states to revert back to the data collection model that the recreational fishing community has widely criticized.