Comptroller: Wall St. bonuses to rise to $20B
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ALBANY, N.Y. (AP) - New York's state comptroller says Wall Street cash bonuses for 2012 are expected to rise 8% to $20 billion, partly driven by deferred payments from prior years.
Comptroller Thomas DiNapoli (dee-NAP'-oh-lee) says his analysis shows the securities industry is still restructuring since the 2008 financial crisis, with almost 20,000 - or 10% - fewer jobs in New York City.
He says to expect continued downsizing.
DiNapoli says profits for broker/dealer operations of some 200 New York Stock Exchange members - the traditional measure of profitability for the securities industry - totaled nearly $24 billion last year, triple their 2011 earnings.
According to DiNapoli's report, other activities of the large bank holding companies were less profitable last year.
The average salary, including bonuses, rose slightly to almost $362,900 in 2011.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
The driver of a vehicle that crashed into a grocery store on 2nd Avenue and East 4th Street in the East Village on Wednesday morning has been arrested. The car jumped the curb before mowing down a tree, light post, fire hydrant and injuring six people.
The driver of a vehicle that crashed into a grocery store on 2nd Avenue and East 4th Street in the East Village on Wednesday morning has been arrested. The car jumped the curb before mowing down a tree, light post, fire hydrant and injuring six people.
Riders should anticipate some changes but "near normal" service on the Long Island Rail Road for the morning rush. Crews have been working to repair tracks and switches after Monday's derailment.
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