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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/.

    NPR

    At 75, Wonder Woman Lassos In A New Generation With An Ageless Fight

    As the launch of the upcoming film coincides with the heroine's Comic-Con fandom, Wonder Woman appears to be hooking new fans for the same reasons she was birthed in 1941: justice, peace and feminism.
    NPR

    For Japanese Parents, Gorgeous Bento Lunches Are Packed With High Stakes

    It's cute ... but is it too much cultural pressure?
    NPR

    Green Party's Jill Stein Wants To Be 'Plan B' For Bernie Sanders Supporters

    "I will feel horrible if Donald Trump is elected, I will feel horrible if Hillary Clinton is elected," says Green Party candidate Jill Stein. She says the two big parties lock out other voices.
    NPR

    Experimental Plane Sets Off On Final Leg Of Its Round-The-World Journey

    It's the first time for a solar-powered plane to circumnavigate the globe. Now it's en route to Abu Dhabi, United Arab Emirates — and you can watch the journey in a live video from the cockpit.

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