That's perfectly legitimate, it was just my understanding that some of these guys didn't stay, and some had already gone. Now if they did indeed honor their contractual requirements as stated when the bonuses were negotiated, then they certainly are within their rights to take that money, and the company within its rights to use it as a compensation tool. Neither is their anything ethically suspicious about it either.
My complaint is offering a bonus (or a golden parachute) that is not contingent on performance, in other words, you get a bonus whether you screw up or not. I don't like this one bit, but it's still not illegal, it's just bad business. And I don't the government should be punishing corporate stupidity. That's what the market is for.
That's what troubles me about this whole business, not that I approve of the practice (which I don't), but that the government is now pandering to public outrage for sheer political reasons.
Current Events » in reply to Retention bonuses
re: Retention bonuses
The whole thread (24 posts)
- Bailout Banker's Baffling Bogus Bonus
- Retention bonuses
- I disagree. When you are on welfare, you don't pass out millions to executives.
- Lessee, the automakers had contracts too, with Unions. Had to re-negotiate them.
- The Dodd Amendment
- Bogus Explanation - Yea Yea Take The Money & Run
- Solution - The Special Financial Institution Bailout Bonus Tax Bracket!
- I hate that I agree with you
- The employer may have a contractual obligation to include a bonus
