Bloomberg Bonus Babies Catch a Sweet Break
Two much-relieved members of the Bloomberg 2009 campaign crew told The Times' Michael Barbaro and David Chen that the checks are either in the mail or on their way. This means that the First New Yorker, who spent a record $102 million to achieve a puny 4.6 percent victory over a weak Democratic opponent, will be doling out at least $1 million more, the Times says.
The final tally could be much higher since in past years, Bloomberg conferred hefty six-figure bonuses on top campaign aides. We'll have to await the mayor's January 15 campaign filing to find out. The move by the mayor to pay extra for even slip-shod performance is directly in line with convetional thinking on Wall Street, where the First New Yorker made his first fortune. The prevailing attitude at the biggest banks and investment firms is that even the most hapless executives deserve end-of-year sweeteners for performances rendered, no matter how woefully inadequate they may have been.