Posts filed under “Wages & Income”
Pimco paid its former CEO Bill Gross a bonus of about $290 million in 2013, a year in which his Total Return Fund trailed a majority of peers, according to documents provided to Bloomberg View by someone with knowledge of Pimco’s bonus policies. Bloomberg’s Bloomberg View Columnist Barry Ritholtz speaks on “Bloomberg Surveillance.” His opinions are his own.
Source: Bloomberg, Nov. 14 2014
Last week, we reported the ungodly sums of money the top executives at Pimco made. We also noted the obsession we have with tracking other people’s wealth. Perhaps I painted with too broad a brush when I described this as an American pastime; to be more accurate, it is a hobby of the moneyed classes in general…Read More
How much compensation the folks at Pacific Investment Management Co., better known as Pimco, haul in each year has always been a topic of fascination on Wall Street. In 2012, news reports suggested that the firm’s top 30 partners “pulled down an average $33 million a year in compensation in recent years.” A subsequent column…Read More
You all the know urban legend of the conversation between F. Scott Fitzgerald and Ernest Hemingway. Fitzgerald: “Let me tell you about the very rich. They are different from you and me.” Hemingway: “Yes, they have more money.” It never happened, but it points to an interesting question: Why are we in America so fascinated with…Read More
It looks as if you can buy happiness, after all. At least, in limited amounts, and up to a point. That seems to be the conclusion based on a recent survey by the Pew Research Center, part of the Pew Charitable Trust. Pew notes that Israel, the U.S., Germany and the U.K. have the happiest…Read More
Economic Commentary Income Inequality and Income-Class Consumption Patterns LaVaughn M. Henry Federal Reserve Bank of Cleveland, 10.06.2014 As income inequality has increased in the United States, researchers have rightfully asked whether it has also led to inequality in relative consumption. This is an important question because consumption is clearly a better measure of an…Read More