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Bonus checks for Wall Street workers may decline from last year.
Knight Ridder/Tribune Business News, November, 2004
By Susan Harrigan, Newsday, Melville, N.Y. Knight Ridder/Tribune Business News
Nov. 3--A slowdown in Wall Street profits has some experts warning that year-end bonus checks for the Street's workers -- the adrenaline that provides much of the zip in New York City's economy -- may not be much bigger than last year's, and may even decline.
Joseph McCann, chief executive of J.H. McCann & Co., Inc., a longtime executive recruitment firm for financial institutions, recently lowered his forecast for 2004 overall Wall Street compensation from a 15 percent rise to between flat and 20 percent below last year's levels. While other experts are not predicting that steep a drop, no one is forecasting a boost comparable to last year's, when bonuses rose...
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