TITLE

MGM Mirage dumps cash bonus program for 2008

AUTHOR(S)
Stutz, Howard
PUB. DATE
October 2008
SOURCE
Las Vegas Business Press (10712186);10/27/2008, Vol. 25 Issue 43, p13
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the decision of MGM Mirage to eliminate its cash bonus program for its workers in 2008. The bonus program is based on achieving a certain level of profitability which the company is unlikely to meet in 2008, according to MGM Mirage spokesman Gordon Absher. He added that bonuses will be eliminated for all employees. MGM Mirage suffered from declining revenues and net income with its stock price falling from a 52-week high of $95.66 on October 29, 2007 to a low of $12 on October 20, 2008 on the New York Stock Exchange.
ACCESSION #
35377773

 

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