Daily Outrage: Company to pay biggest bonuses while stock earnings drop

WHO: Goldman Sachs Group Inc.

WHAT: Large investors holding tens of millions of Goldman Sachs shares are objecting to the Wall Street firm paying its biggest-ever employee bonuses — about $717,000 apiece. The irate stockholders are upset because the 2009 earnings per share are expected to be 22 percent lower than in 2007 and roughly equal to the 2006 earnings — despite record net income as the markets rebound.

WHY: Goldman’s stock-earnings decline was caused by issuing more than 100 million shares in the past year to beef up its capital position. Shareholders also dispute a financial statement change that added temporary workers and consultants to the company’s total head count, making it look as if Goldman employees earn less than they actually do.

Just Posted

Climate strike organizers say SFUSD blocked student participation

The organizers behind Friday’s Climate Strike in San Francisco are accusing the… Continue reading

City puts closure of long-term mental health beds on hold

In response to public outrage over a proposal to suspend 41 permanent… Continue reading

Here we go again – new dog rules in Golden Gate National Recreation Area

The GGNRA released a 2019 Superintendent’s Compendium that makes significant changes that appear to implement parts of the ill-fated Dog Management Plan.

Thousands take to San Francisco streets in Climate Strike

The protesters are calling for urgent action on climate change, including putting pressure on local elected leaders to support more drastic steps.

Good Day Sept. 22-24, 2019

Mark Morris Dance Group, Presidio Theatre Open House, PUSHFest, Community Music Center Sunday, Making Faces-Portraits by John Kascht, WWE Monday Night Raw, Margaret Atwood, George Takei, Durand Jones, Kurt Ribak, Incubus

Most Read