Cramer's Stop Trading! Stop the Bonuses (12/23/08)

Stocks discussed on Jim Cramer’s Stop Trading! TV program, Tuesday December 23.

American Express (AXP), Oracle (ORCL), RIMM (RIMM)

Cramer says that since certain executives are “immensely wealthy” they should “skip their bonuses.” If companies are tightening their belts, so should the executives; “no equities, no cash.”

American Express has now joined the league of companies receiving government funds; "Here we're rewarding a company that after years and years of being really conservative, went haywire and now we're throwing money at them.” Cramer admitted he was baffled.

Cramer’s quick tech picks for 2009: Oracle and Research in Motion.

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Comments

[frs:]

He's absolutely right on this one - the entire Wall Street complement of companies should CANCEL BONUSES for their execs and workforce, just like what is happening in the rest of the country by hundreds of other companies. These financial firms have virtually emasculated the global economy - HOW DOES THAT MERIT A BONUS !!!! WHat's would the frickin bonus be for? Good work and effective management????? For God's sake people.............

2008 Dec 24 01:25 PM

[Kunst:]

Where I come from, bonuses are paid when the company makes money. How do you justify mega-bonuses in companies that are barely still alive?

2008 Dec 24 04:35 PM

[Double P:]

Where is the resposibility of the Directors who approved these salaries and almost all of the bad ideas promoted by these corporations?

2008 Dec 24 11:14 PM

[fanning:]

Look at Nortel.

2008 Dec 25 12:33 AM

[Kunst:]

Who do those directors answer to? The stockholders have lost control of most companies.


On Dec 24 11:14 PM Double P wrote:

> Where is the resposibility of the Directors who approved these salaries
> and almost all of the bad ideas promoted by these corporations?

2008 Dec 26 02:34 AM