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    Morgan Stanley Will Limit Cash Bonuses To $125,000

    The employees of Morgan Stanley, owner of the world's biggest brokerage, will receive a maximum cash bonus of $125,000, this year. As The New York Times puts it, the cap reflects "the difficulties that new financial regulations and the debt turmoil in Europe have posed to Morgan Stanley and its rival firms."

    And with tongue firmly in cheek, it also notes that the bankers "may want to put their kitchen renovations off until next year."

    Now, the cap only affects the cash bonus. The Financial Times reports the total amount will likely be "significantly lower" and it means that employees will see a higher percentage of their annual bonuses go toward deferred cash and stocks.

    The Wall Street Journal, which first reported the story, said the brass will take a bigger hit. Members of Morgan Stanley's operating committee — including CEO James Gorman — will not get any immediate cash.

    Trying to put the cap in context, the Times says that most bankers receive most of their compensation through bonuses, so $125,000 is a "pittance" for those accustomed to a seven-figure check. The Times reports:

    "Among the things $125,000 won't buy: a Ferrari 458 Spider (which retails for $257,000), a high-end Patek Philippe watch (which can be had for $216,7200) or a year's worth of maintenance fees and taxes on a penthouse apartment at 15 Central Park West.

    "Of course, to those in industries unaccustomed to large year-end bonuses, even the paltriest Wall Street bonus would rank as a princely sum."

    Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

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    Customers Bid Farewell To One Of The D.C. Region's Last Video Stores

    Longtime movie lovers say they'll miss the shop, but they'll especially mourn the gradual death of an American tradition.
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    Tabasco And Beer-Flavored: Not Your Easter Bunny's Jelly Beans

    On the eve of Easter and National Jelly Bean Day, let us probe the mysterious origins and unexpected ascendency of the humble candy. And to celebrate, we've sampled Jelly Belly's newest flavors.
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    Judge Says Ex-Governor McDonnell Can't Withhold Documents From Prosecutors

    McDonnell asked to keep the information from prosecutors, saying it would expose his trial strategy, but a judge says prosecutors can't be excluded.
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    Free Public Wi-Fi Comes To NoMa

    The NoMa Business Improvement District has started to provide free Wi-Fi in some parts of the neighborhood, but some users say the service is still too sluggish.

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