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Even Bear loses sometimes
Bear Stearns is expected to announce its first quarterly loss ever tomorrow. The 84-year old company, like many others, has taken big hits from the credit crunch. And now it looks like the firm's top brass will feel the pinch. The Wall Street Journal reports CEO James Cayne and other executives are expected to say no to their bonuses this year. It's a big change for Bear. Over the years, it's used a hefty compensation approach to recruit employees labeled P-S-Ds: that stands for poor, smart, desire to be rich.
Posted on December 19, 2007 4:03 AM PT | Permalink
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