[BITList] falling standards

[CT's]

?
further to my email re: falling living standards in the USA and the rich getting richer....................

Goldman Sachs Group Inc. set aside $13.1 billion for compensation and benefits in the first nine months of the year, down 21 percent from a year earlier, as revenue fell 14 percent. 

The amount, equal to 43 percent of revenue, is enough to pay each of the New York-based firm's 35,400 employees $370,706 for nine months' work. That's down from an average $527,192 for the firm's 31,700 workers a year earlier. 

Goldman Sachs, which set a Wall Street pay record in 2007, came under pressure last year from politicians and shareholders to reduce bonuses following the worst financial crisis since the Great Depression. The company cut its full-year ratio of compensation to revenue to 35.8 percent, the lowest since the company went public in 1999. 



$370,706/9 months [barely $41000 per month] doesn't go far these days!



ct
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://lists.bcn.mythic-beasts.com/pipermail/bitlist/attachments/20101019/34849408/attachment.shtml