Forgo 2007 Bonuses

[Juan Benavidez]

Longnecker said he believes management at both Morgan Stanley and Bear Stearns made the decision to forgo bonuses, without it being pushed on them by the compensation committees of the firms' boards, although he added, "The compensation committee probably feels relieved they did so."

And he said that as much as Mack and Cayne saw their bonuses reduced, it was limited compared to the huge declines in their net worth this year from the drop in the value of their stock and options.

Both firms are off nearly 50 percent from their highs of earlier this year, a drop that cost Mack about $146 million off the value of his stock and options since July, and cost Cayne a whopping $571 million in the value of his holdings since February. Still that leaves Mack with $177 million in Morgan Stanley stock and options, and Cayne with about $617 million in Bear Stearns shares and options.

"They're in good positions to forgo a bonus," said Longnecker.

 

[murray stroupe]

Re ; 2007 Bonus

Juan;
Both those leaders did much better for their stocks;
than CFC, or WM........Not a stock tip

 

[Terrel L. Shields]

Poor babies....they reaped the benefit of profits by being empty suits. Now they still make a pretty good chunk of change while acting humble.

Isn't it funny that it was their leadership which made the money but its "the market" that's hurting them now..

 

[Mountain Man]

Oh come on now, they also have mortgages to pay... in NY, CO, HY, Greece, Madrid...