Posts filed under “Wages & Income”

Consumer Finances

As per our prior discussion, let’s take a look at a nice set of charts showing the present state of Consumer Finances (all data thru Q1 2010):

Balance Sheet, Savings Rate, Debt Service Ratio

click for larger chart

Source: (Left chart) JPM, FRB, J.P. Morgan Asset Management. Data includes households and nonprofit organizations. (Right charts) BEA, FRB, J.P. Morgan Asset Management

* Personal savings rate is calculated as personal savings (after-tax income – personal outlays) divided by after-tax income and reflects data through February. Employer and employee contributions to retirement funds are included in after-tax income but not in personal outlays, and thus are implicitly included in personal savings. Savings rate data are as of Feb. 2010. All other data are as of 4Q09.

Category: Credit, Economy, Markets, Wages & Income

American Pastime: OverPaying CEOs

There is a longish Sunday NYT article on CEO pay that I plan on reading. But before I get to it, I wanted to share some longstanding thoughts of my own on exec compensation. While there was a temporary drop in exec comp caused by the market crash, we still have structural compensation issues that…Read More

Category: Really, really bad calls, Wages & Income

Top 10 Hedge Fund Managers 2009 Salary

Here are the top 10 managers for 2009 in terms of net compensation. The majority  of this comp is based on performance fees, plus investment returns on their own money. The top 25 earners were paid a collective $25.3 billion. The lowest earner on the list earned a puny $350 million — a shanda! —…Read More

Category: Hedge Funds, Wages & Income

Payroll Withholding Taxes Surge in March

Matt Trivisonno shares with us some of the research he does at Daily Jobs Update regarding payroll withholding taxes. He notes that in March, there has been a very strong surge in withholding taxes. The amount is roughly equivalent to 300,000 new workers being paid $30,000 salaries.  Matt presume many of these jobs are Census…Read More

Category: Taxes and Policy, Wages & Income

Overpaid Execs Over-Emphasized Comp

Here are the key data points: • The average CASH payout for the top 25 execs at the 5 companies that were bailed out by Uncle Sam — AIG, Chrysler, GM, GMAC and Chrysler Credit — has been cut in half since 2008 to $469,777. • For the top earners at those companies, pay is…Read More

Category: Bailouts, Wages & Income

Taibbi: “The Best 18 Months of Grifting This Country Has Ever Seen”

I have a few quotes in Matt Taibbi’s no holds barred look at Wall Street’s profits and bonus culture. It is classic Taibbi, full of righteous indignation and fury over the bailed out banks quick transformation from near bankruptcy to record profits. He details 7 scams the various TARP recipients have pulled. Here’s a taste…Read More

Category: Bailouts, Corporate Management, Wages & Income

Banking Compensation Around the World

This chart, from a Reuters’ analysis of pay at the 18 biggest banks by market value, illustrates the massive differences in pay among the CEOs of the world’s top banks. The compensation of the CEOs of the largest U.S. banks towers above what’s paid to banking chiefs in other parts of the world. > Source:…Read More

Category: Corporate Management, Wages & Income

American Idol, Goldman Sachs Edition

Ever wonder why Goldman execs don’t speak to mere mortals? The answer was hidden in a tongue-in-cheek Michael Lewis Bloomberg column, which he slipped this by everyone late night Friday. Its an internal memo to Lloyd Bankfein, chock full of suggestions to improve GS’ public image. This one was my favorite: Each year, for example,…Read More

Category: Corporate Management, Humor, Wages & Income

Hours of Labor Needed to Buy SPX, CRB, Gold

I find these 3 charts, courtesy of Ron Griess of The Chart Store, fascinating. They contextualize market gains, dollar weakness and inflation and deflation relative to various markets: click for larger charts S&P500 Commodities Gold

Category: Commodities, Inflation, Investing, Wages & Income

Wages of Failure: Exec Comp at Bear, Lehman 2000-08

I stumbled across a fascinating pierce of research (via a reader) regarding misaligned pay incentives Bear Stearns and Lehman Brothers: “The standard narrative of the meltdown of Bear Stearns and Lehman Brothers assumes that the wealth of the top executives of these firms was largely wiped out along with their firms. In the ongoing debate…Read More

Category: Bailout Nation, Bailouts, Corporate Management, Wages & Income