From Capital New York:
The thousands of employees of Mayor Michael Bloomberg's eponymous media and finance company will have to wait longer than they thought for the megabonuses dangled in front of them two years ago, Capital has learned.
In December 2010, as the New York Post's Keith Kelly reported at the time, Bloomberg employees were told in a year-end memo that they would receive giant bonuses if the company reached $10 billion in annual revenue sometime between July 2013 and June 2014.
The bonuses, separate from the standard annual bonuses Bloomberg employees receive every February, would be more than 70 percent of the average annual salaries employees had earned from Jan. 1, 2009 through the point the company reached its goal.
As with all Bloomberg memos, the math was a little arcane, but employees quickly totted up the totals, creating a big incentive to work hard and, most importantly, stick around for the crucial moment....MORE