Posts filed under “Wages & Income”
From Torsten Slok, Deutsche Bank:
The next ECI will be released on Jan 30 and the NFIB data that just came out points to more upward pressure, see chart below. Also, remember that the wage data used in the Fed’s FRBUS model of the US economy is the employment cost index and not average hourly earnings.
Why Is Wage Growth So Slow? Mary C. Daly and Bart Hobijn FRBSF, January 5, 2015 Despite considerable improvement in the labor market, growth in wages continues to be disappointing. One reason is that many firms were unable to reduce wages during the recession, and they must now work off a stockpile of…Read More
“The Plutonomy is here, is going to get stronger, its membership swelling. Toys for the wealthy have pricing power, and staying power.” -Ajay Kapur, global strategist at Citigroup Today is the 8th anniversary of a fascinating set of observations via Robert Frank in the Wall Street Journal on income inequality. 8 years ago,…Read More
Congratulations! You just signed a $325 million deal. Now what? Barry Ritholtz Washington Post November 23, 2014 Last week, we learned that Giancarlo Stanton signed an enormous contract: a 13-year, $325 million deal with the Miami Marlins. Before the 25-year-old slugger starts to celebrate, there are quite a few things he needs…Read More
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