Goldman shareholders asking for bonus cuts

I’ve been wondering how long it would take before shareholders turned on the excessive costs of payouts. With a forecasted average salary of over $700,000 per Goldman worker, it’s not surprising that they are being called out first. With a cost of business like that, they better be delivering staggering numbers to shareholders. There has been a lot going on behind the scenes lately including a mild PR effort (surely prodded along by Warren Buffet) to improve their public image. Reining in this excess could also go a long way, even if it is going to be a small change. The Goldman name among Americans could hardly be any lower. Reuters:

Some of Goldman Sachs Group’s largest shareholders have asked the company to cut the size of its bonus pool and pass along more of its profits to investors, the Wall Street Journal reported, citing people familiar with the situation.

Although the shareholders are not pushing for a huge cut, they feel that Goldman should better reward shareholders for this year’s rebound, the paper said.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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