Report: BofA to dangle bonuses to Merrill Lynch brokers

Gerald Magpily and other journalists of his type need to get a grip. First, if BofA chooses to pay bonuses to any or all of its employees (including ML employees), what's it to Magpily? Many financial services employees make the bigger part of their annual pay from their bonuses rather than from base pay. Why should the rank-and-file forego their fair wage just because BofA took a government loan? Second, brokers who are only producing $500k-$1MM are definitely rank-and-file employees. These are not the top executives that led the corporate ship into the rocky shoals. These are the ground level account servicers. These guys are right there in the trenches with the rest of us taxpayers scraping by to pay the mortgage, daycare, and college costs. Magpily needs to quit trying to incite UNrighteous indignation and find something worthwhile to cover.

Magpily seems to come from that genre of journalists that get wish to get their notoriety from using cheap sensationalizm to do their work. Gee, some ground level brokers that produce day - in and day - out for their company might be induced to stay and not leave with their customers - heaven forbid they might be given a bonus to stay!! get a life Magpily. People like you use cheap tricks like this one to try to make a name. Like the producers at AIG that had worked a year to earn their award trip. Would I stay at AIG - no way. The company doesn't want to reward major production - I am going where I am appreciated. And I'll bet the expodus from AIG is now in full swing.

Hey Magpily - companies may agree to stupid arrangements - but the people that work for them don't have to. If Merrill doesn't step up - I'd bolt. Merrill won't be close to the same company in a year. It will be a "bank". Few deals, little risk - no freewheeling - why stay? If the bonus' aren't paid - people leave.

Maybe journalists that live in their stupid cages can't get this - i suggest you wake up to the real world and do some real work instead of cheap tricks.

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I recently wrote an article on my web site analyzing the difference between a small business person and a corporate executive.

It is located under the "Why this site ?" menu option.

I for one believe it is time for us to snap the purse strings shut to the executives that are directly responsible for our financial crisis and replace them with people that are ready and willing to make sure the job is done right.

Virgil
http://www.KeepAmericaAtWork.com

The real funny thing here? NO FA would be making the money they are if it weren’t for the IT support keeping them afloat 95% of the time.
I’m talking about people that don’t even know how to turn on the computer. The people that don’t know how to use easy applications such as
Microsoft or even know how to refresh when the screen tells them to! Or worse, how to act like a professional on the phone when they
Call. What about the CA’s? My god don’t even get me started how those people get treated, and all the work they do for their handy cap FA’s.
It’s out right evil and absurd how you FA’s act to the, I guess “little people of the firm.” I think and I’m sure most would agree are
Full of greed and quite selfish, that goes for most of the VP’s too. ?
What about all the other groups within these big firms that make it happen? We all play a part of getting it done. But IT? The red head step
child of ANY company. If it were not for us the system they rely on would be down, meaning no money making, equaling no hundred thousand
and something bonus. Our bonus was not even a full check, that’s what we get for helping FA’s make (to me) an obscene amount of money.
This is a clip from the Herald Tribune, “The money Merrill has set aside for bonuses equates to an average $110,000 for each of its 60,900 people,
up from $108,000 a year ago because more than 3,000 jobs have been cut.”
Ok then, Where the heck is my $110,000? I’ll even be so bold to say I’d be happy with $10,000. You guys making this crazy money need to take
note to this. I live paycheck to paycheck and then I see a crook drive a great company in the ground with the help of the wonderful IBK’s and
walk away with $168 mill. ?! Nice.

Hey Dipstick (a.k.a. savetheusa)!

We the people are not under any circumstances obligated to pay for your company's gross mismanagement, lack of true oversite, and your pied a terre in the Hamptons.

It is your inane sense of entitlement that has the country in the position that it is in. Bet you voted for W,.. twice!

Leave Merrill and AIG,.. they may have your rear on the chopping block as we speak. Your retention and maximum comfort (need a pillow? Strip club?)is of no concern to the rest of us, who now have a lien on AIG to the tune of $130 billion, (where's the cash? See the times today?) It's called risk assessment.. try it sometime..

I have to agree with "Tech" and "Wood" on their respective points.

First, I am in the I.T. administration/support field and agree whole heartedly that the over paid pencil pushers of the world owe us a huge debt of gratitude for keeping them on the fast track to their next Mercedes!

Second, the "insane sense of entitlement", greed and selfishness demonstrated by the financial institutions (and most people) are at the root of ALL problems suffered in America and the world in general.

Don't forget, the universal rule is:

"What goes around comes around"

Some of you are in for a VERY rude awakening!

Sweet dreams!

I for one believe it is time for us to snap the purse strings shut to the executives that are directly responsible for our financial crisis and replace them with people that are ready and willing to make sure the job is done right. http://tramadol.5x.to/