December 10, 2016
University of California awards $841,000 bonus to investment officer who lost $791 million last year
By Thomas Lifson
Wow, this is nice work, if you can get it. I have heard about participation trophies going to children who compete in athletic contests and lose, but the Regents of the University if California have taken the concept too far when they award bonuses for losing money on investments. Randy Diamond of Pensions and Investments reports:
The University of California Regents approved an $841,096 bonus for Jagdeep Singh Bachher, chief investment officer and vice president for the fiscal year ended June 30, according to a posting of regents' actions from its Nov. 16-17 meeting, on the UC website.
http://www.americanthinker.com/blog/2016/12/university_of_california_awards_841000_bonus_to_investment_officer_who_lost_791_million_last_year.html
