From the NY Times:
Michael R. Bloomberg prides himself on importing traditions from Wall Street to City Hall. But he did not count on introducing this one: end-of-year bonus anxiety.
The mayor’s unexpectedly close re-election could jeopardize the quadrennial payouts — some as high as $400,000 — that he has routinely showered on his campaign workers, a highly unusual perk in municipal politics, a world not typically associated with lavish pay.
Mr. Bloomberg, a former bond trader, considers the bonuses a reward for hard work and successful results: as his election-night victory margins have grown, as they did from 2001 to 2005, so have the checks he writes to his staff.
But on Tuesday, his margin of victory dropped by three-quarters, compared with 2005 — not exactly cause for a cork-popping celebration.
So like investment bankers stung by a poor earnings report, some of the mayor’s campaign operatives are fretting over a potentially diminished windfall.
Photo from the Daily News