"There is no justification for massive pay and bonus awards in financial institutions, the most important of which are guaranteed or owned or have been rescued by the taxpayer, " Mr Cable said.
This meant there was an "over-emphasis" on short-term financial performance, reinforced by a bonus and pay culture that rewarded money-making over serving the interests of customers and clients.
Other policies like the New Homes Bonus are also designed to give authorities the financial incentive to resolve local problems.
And the reduced travel costs are a huge bonus given tight economic times in general and financial difficulties facing both schools.
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Second, there is some bemusement that the Financial Services Authority didn't slightly toughen up the bonus restrictions agreed by European regulators when interpreting them for London.
The lower stock bonus for Mr. Blankfein accentuates a year of financial-industry retrenchment, and comes as public sentiment against bankers and big pay packages has risen.
However, in 2002 Disney had put in place for the entire executive officer group a new annual bonus scheme that let a range of one-off financial events be excluded from the assessment of whether management, including the chief executive, had met performance targets.
London argues the EU's bonus rules would drive away talent and restrict growth in the financial sector.
The UK argued the EU bonus rules would drive away talent and restrict growth in the financial sector.
That is so because no institution (financial or otherwise) would welcome political scrutiny of its lending, trading and bonus practices (to name three) unless it had nowhere else to turn.
In testimony before the House Financial Services Committee on February 11, Lewis said he had little involvement in the Merrill bonus plan.
In two recent compensations agreements that we negotiated for Advertisers, one for a company in the financial sector and the other for a manufacturer, 75 percent of a bench-marked bonus was to be awarded to the agency team.
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In addition to formal performance reviews against pre-set performance targets and financial metrics, employees are also assessed against compliance and risk audits in order to ensure that the bonus pool properly reflects this performance.
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King insisted the bonus scheme was withdrawn after the last year's World Championships as UK Sport effectively took over financial responsibility for the GB elite squad.
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