Year End "Retention Award"

Posted by Bull Bear Trader | 2/12/2009 01:52:00 PM | , , , | 0 comments »

It looks like Morgan Stanley has found a way to reward its top employees without getting in trouble for using bailout money for bonuses. Instead of bonuses, the company will be handing out "Retention Awards" after its merger with Citigroup (see New York Magazine article). I guess the conversation will be something like: "Congratulations, since you are still employed, please accept this cash award." Something tells me that is not going to fly with Congress. Just what we need ........ another hearing.