is reputational harm or reputational risk not a sort of standard thing in these contracts, though?
On Wed, Dec 10, 2008 at 10:39 PM, michael perelman < [EMAIL PROTECTED]> wrote: > The Wall Street Journal reported today that securities firms have a claw > back clause that allows them to call back bonuses from people whose screw > ups turn out to cost the company big bucks. ok. But Morgan Stanley's > contract includes "reputational harm": which sounds like it would include > people who tell tales out of school: > > Grounds for invoking the provision include "the need for a restatement of > results, a significant financial loss or other reputational harm to the Firm > or one of its businesses," the memo said. Morgan Stanley's rule applies to > 2008 bonuses and cash payouts vesting over a three-year period. The roughly > 7,000 employees covered by the policy range from top brass to midlevel > workers. > > Patterson, Scott. 2008. "Securities Firms Claw Back at Failed Bets." Wall > Street Journal (10 December). > > http://online.wsj.com/article/SB122887461425193661.html?mod=todays_us_money_and_investing > > -- > Michael Perelman > Economics Department > California State University > Chico, CA > 95929 > > 530 898 5321 > fax 530 898 5901 > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l >
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