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Wells Fargo suspends bonus program for top execs

Maybe Wells Fargo is starting to get the whole public-perception thing.
The bank was on the defensive earlier this month after the Associated Press reported that it planned to reward top employees with a trip to Vegas.

Maybe Wells Fargo is starting to get the whole public-perception thing.

The bank was on the defensive earlier this month after the Associated Press reported that it planned to reward top employees with a trip to Vegas. It eventually canceled the trip after a flurry of negative press.

Yesterday, Wells Fargo’s board of directors disclosed a decision that’s likely to play a little better in the public’s eye: They voted to suspend the company’s bonus program for top executives.

AP and Reuters reports that the executives won’t receive cash bonuses for 2008 because the company missed performance goals.