Bank of America May Hand Out Stock Instead of Cash Bonuses

by Derek Loosvelt | November 08, 2010

Due to a cash shortfall -- recent asset sales didn't bring Bank of America as much money as it had thought -- the firm is considering issuing year-end bonuses in BofA stock as opposed to cash. Which might be in BofA employees' favor. Citing a San Francisco-based compensation consultant named Frank, Bloomberg points out that "paying bonuses in stock is unlikely to anger employees because price appreciation can boost the value of awards." Also, BofA's stock is "trading at a low."

In other news, this is what happens to Ponzi schemers on the inside (ouch; next time, keep your hands up, Allen). And this is what happens if you run over a doctor in your 2010 black Benzo, flee the scene, leaving the Doc for dead, but luckily happen to make a bunch of bank and work as a private wealth manager for Morgan Stanley (I guess you can count "not likely to be convicted of hit-and-run felonies" as another plus to a job in banking).

Filed Under: Finance


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