Andrew J. Hall is the head of a small trading company called Philbro. He made a lot of money for Citigroup and now his contract calls for a nine figure bonus.
The problems are:
1. Will the government allow it? They probably will because it is well-documented in his contract.
2. If they pay the bonus, Citigroup may experience a public backlash.
3. If they don't pay the bonus, other companies will be happy to hire him.
I think this situation shows the complications and problems that arise when government gets too involved in business.
Citibank is at a big disadvantage with the government having a veto power over their bonuses. Other companies are already trying to lure away Citigroup's superstars.
Tuesday, 4 August 2009
$100 Million Payday for Energy Trader?
Posted on 09:45 by Unknown
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