GOOD DAY FOR: Crocodile tears, as year-end bonuses for the most senior Wall Street executives will fall by up to 70 percent this year, according to compensation experts Johnson Associates. In 2007, the CEO and presidents of Goldman Sachs received bonuses of about $67 million each. Bonuses for other employees will fall by between 10 percent and 45 percent this year. “However, thanks in part to the financial bailouts and mergers,” said Alan Johnson, “the decline in incentive payments won’t be as drastic as first thought.” (Bloomberg)
BAD DAY FOR: Sundance, as independent filmmakers are struggling to cobble together financing in the wake of the global economic meltdown. They were already struggling amid a glut of indie films. Now, the small-budget movies most likely to get bankrolled are commercially oriented comedies and action movies. (Los Angeles Times)
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- Why TheWeek.com is closing the comments section
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