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My thoughts do go out to the author and to all of the employees of AIG/AIU. I think it is absolutely disgraceful for people to behave toward an everyday employee is a way that would be threatening just because they work for a company.
Author of the story...If you read this I hope you are able to walk safely from your car to your office. It just goes to show what animals really live among us.
By the way...I don't hate AIG I hate Fannie Mae. Why doesn't anyone else talk about how they hijacked our economy and the need to put Franklin Raines in jail?
You aren't the first mosted hated company. The IRS is numero uno.
Yeah I feel for the guy but T.S. same arguement Hitlers soldiers used, he should leave or take it. There are certain jobs which merit distain, meter maids, repo men and AIG employees. China sentenced those guys who let tainted milk out to scoop up a little extra profit to death we otta take a que from them and throw these execs from thier penthouse office's.
This hate started with the Oval Office. How dare the President demonize and target a private business in which he has fueled its bad reputation. If we let them fail, like we should have in a free market economy, none of this hate mongering would have occured.
The current state of this country (led and encouraged by the federal government) seems to be self-centered and focused on "what can the fed do for me" attitudes. What many citizens do not see is how this is actually fueling the socialist movement headed by our president. We need to change course very soon!
Dear Author of this article:
I am one of millions of U.S. Taxpayers that thru no fault of my own have had my tax dollars used to bail your company out. I work for an automotive parts supplier in Elkhart, Indiana that has experienced multiple buyouts, ups and downs, and watch some of our best talent walk out the door. We have unemployment so bad in this area, our President made a televised visit here not too long ago. I wonder when the day will come when we say we will shut down or more layoffs will come. As we were bought by a foreign company we had our manufacturing phased out here and moved to Mexico. I had the displeasure of walking in to that plant a Monday 4 weeks ago to find that one of my Mexican co-workers was kidnapped and killed that weekend while trying to escape after being held captive for 2 hours--he was just out jogging in his neighborhood . I had the displeasure of just missing a firefight between Mexican drug Cartel and their military where 21 cartel members were killed...I am greatful I was there 2 hours after the crossfire. We have to hide our ID's going across the border, leave our laptops, jewelry, PDA's, and have to have escorts take us across the border to help assure our safety. My wife has to lay awake at night wondering while I'm on assignment down there if I'll come home or if I'll be a kidnapping or murder victim. We have had hour work days reduced, forced time off, and bonus cut also. As we are consolidating, I have to leave my hometown that has been to home to my wife and I thru our childhood's and all of our kid's childhoods to move 3 hours away. We have to leave wonderful neighbors, friends and family behind. What I'm trying to say is stuff is tough all over--not just with your company--many of us are going thru the same things. You deserve no more empathy than I do in that we both are where we are as much by our own choices as those of others...we either find a way to roll with it or find another path.
I don't hate you or anyone more accountable for the situation your company is in. Hate is an emotion void of rational thought. I agree we cannot govern out of hate or anger, but we should govern out of accountability. I am however extremely upset that bonuses are paid when my tax dollars are used to keep your company afloat. I get angry when my government officials supposed to be on guard to protect our collective best interests say they didn't know, it was their predecessor, it was the other guy, it was at the advice of my legal advisors, or a President (that I voted for) says I needed two days to know what I was talking about before I could react. I get frustrated when your CEO says calls AIG bonuses distasteful and blames it on his predecessor only to hear later from an exec that submits his resignation to the NY Times that this CEO was in agreement to the bonuses and tried to accellerate their payment dates. Equally, I get tired of hollow words such as "shock" and disappointment" only to know that nothing really will be done about it aside from harsh words. Do I hate you or your company--NO. Am I angre for those that created this mess and to those in government that allowed it to happen...yes, I am mad as Hell. I understand and empathize with your feelings....I hope you will understand and empathize with mine.
Please stop the woe is me nonsense...FFS grow up, "there was even talk of someone being spit on" Nonsense and heresay, I don't believe that happened nor do I believe that your life is being threatened. Your inability to cope with what EVERYONE else is trying to cope with makes you sound like a whiny little person. If you take the time to mention that you are underpaid in your current postion then quit, go out into the "Free market" economy and get yourself a job that pays you what you are "worth". Oh I forgot it is companies like yours that have inflated the wages of incompetant employees and given others a false sense of security. Please stop with the BOO HOO poor me nonsense.
To Leo5: Were you there? Or do you make assumptions based on what the "news" says? Do your research before you make such statements. Remember...
"It is better to have people think you are a fool than to open your mouth and remove all doubt"
Very, very well written!
Leo5...
What do you do for work? How much do you get paid?
I need to know so that I can determine if that is fair. Thank you, that's all the information I will need to make a decision. Oh, wait, what kind of car do you drive?
I truly believe everyone has been misled. It's ok though, we have been raised in a society of psychopaths. From "Leaders" of Corporations to the Government, that's who are ruining the world. Point a finger at someone else because it wasn't me, it was you that screwed up. Everyone screwed up. It's ok, we are only human, we were never meant to be perfect. Take a moment and think to yourself: Are the leaders of our beloved Government innocent? Are the leaders of these Corporations innocent? Instead of being mad, actually think outside the box and look at each individual involved in this situation. You'll have a different point of view.
I do feel for the reader and the rest of the employees. We really are all in the same boat. If we are lucky enough to make our wages and have a job we are to be greatful. I can only hope that the excecutives that seem to feel they are OWED these bonuses for working to bring the company down instead of working more postitive, my thought is we shoulod know who they are so that other companies will know who they need NOT to hire. Oh, but then again they now have enough money to feed our homeless shelters and never work again. Think they would use a bonus for such a purpose.
Everyone can empathize with the middle or low level non-bonus paid employees who are not directly part of the debt swap scam that precipitated the AIG meltdown, the cogs of the machine as it were.
Yet, the public has still not heard the proper mea culpas. Until comprehensive and credible claims of responsibility and apology are widely heard and accepted it is best for all those working in the financial sector to keep low profiles.
But why have we yet to hear of the regulatory responsibility in Washington?
Are not the federal regulators also responsible for the meltdown?
U.S. regulators ruled that the credit default swaps are not insurance products--even though swaps cannot seem to be adequately explained except by using insurance-like language--and are therefore not subject to state regulation and capital reserve requirements? If there were sufficient capital reserves there would be a lot less pain right now. If the states were regulating the issue of these swaps there also would not have been so many issued.
Following the same line of reasoning, why have we not heard of prosecutions of home mortgage originators and underwriters? Will the Lehman corporate leadership go to jail? After all they were sued by underwriters they fired because the underwriters were turning down bad loan applicants and thus cutting into the illicit profits.
Where is the disgorgement of the mythical profits from the millionaire, bonus paid, partners and contract employees? Not just AIG but real disgorgement all the way along the financial chain should be a priority.
We are in for a rough economic ride with eventually new, possibly international, regulatory features, the kind which responsible economists have been calling necessary for years in order to limit possibly ruinous levels of risk from the hedge fund activities.
But the bottom line is that the guys who created this mess and took in billions in paper profits are going to get to keep the cash and the taxpayer is stuck, and as the whole chain of fraudulent activity sinks in to Jane & John Q. Public's brains they will get even angrier.
We can only hope that realization of deepseated public anger will produce a shift in corporate compensation and fiscal policy in the U.S. to one of fairness, where more profits are moved to the middle and bottom and the second Gilded Age is eviscerated as the corporate suite members would be paid no longer as if they were potentates. Democracy needs to be instituted in corporate governance, and caps through fiscal policy need to be enacted to limit the creaming of corporate profits away from shareholders.
Next we should look at "non-profits" that pay executives as well as the private sector. What's up with that?
That is a sad story. It is stressfull enough to be working for a company with an uncertain future, but to have to endure the collective misdirected angry must really be tough
Is working for these hated companies really the only choice available? Why can't she just quit. I personally can't work for any one or any company that doesn't live up to my personal ethics. I would never have worked at AIG in the first place but now that I know what crooks they are, I would have to quit. The actual violence that people use against others is never appropriate but the statements against people that work for companies like this is. I personally hate people that join the military. I feel the people that enlist in todays volunteer army enable to state to commit terrorist acts against other nations. I don't plan on attacking any of them though. I see soldiers as terrorist that enable the state. I see employees that work for companies that rip people off as enablers also.
A good perspective on people who are down in the ranks. Unfortunately, you know the structure of AIG but to the normal person, AIG is AIG, no matter what division you work for. Somewhere along the way, your C-level people forgot that they represent thousands of employees. I truly hope your board removes your executives soon so you all can have a fresh clean start. Good luck.
bet AIG experience will be left out on everyone'e resume.
"So what have you been doing this past 35 years?"
"Uhh just been scratching my balls..."
"OK you're hired as long as you didn't work for AIG."
It seems the bottom feeders always get the shaft. The worker bees that show up every day, do their jobs, many times under paid and over worked. They certainly did not create the mess at AIG and certainly should not be treated like lepers.
What is the point of this article other than 'The grunts don't have a clue'? They would all, even the multi-million dollar bonused execs be out on the street if not for our taxpayer bailout. They should all be ashamed of either themselves or the business they work for. If they're not, they can't be rehabilitated and they need to be desperately unemployed.
You are a sad, angry and bitter person to wish unemployment upon anyone especially in this current financial climate. I am an AIU employee and take great pride in the job I do everyday. I can place my head on my pillow every night and feel confident that nothing I have done has caused the issues affecting AIG. By the way, do your homework. AIU has not received a single penny from the bailout, has $62+ billion in surplus and continues to pay claims on behalf of its loyal policyholders. Truly, I feel sorry for folks like you. You are VERY uminformed.
Well Mr. rrobesson, after reading the point made, the word prejudice came to my mind. Then, upon further thought, I said to myself NAH! Bigot is the only true word that reflects the views and opinion of this comment. I just wonder what thought would also come forth on the subject of out president.
I totally agree with you. Now this arm of the company has 62 billion and we give 180 billion to the parent. Something's wrong with this picture. where did the 62 bvil come from? the bailout? if the company had that much money why did we give so much
Do your homework. Per the agreement with the Federal Reserve AIU cannot provide any funds to the parent company, AIG.
You need help, like yesterday!
Rrobeson, I work for AIG and I am not ashamed of myself. I'm a tax payer too by the way, so you can just bite me! People seem to forget that WE are taxpayers too! Furthermore, my skills and education dictate that I would have a job even without your precious bailout, because I could easily get a job anywhere. And whenever I do look for work, I'll proudly list my work experience and accomplishments at AIG on my resume and if anyone has a problem with me not hiding in shame and embarrassment for something I had no part of, they can suck it. F- you for making ignorant generalizations about hard working and honest employees, which account for a majority of AIG's work force.
Rrobeson, I work for AIG and I am not ashamed of myself. I'm a tax payer too by the way, so you can bite me! People seem to forget that WE are taxpayers too! Furthermore, my skills and education dictate that I would have a job even without your precious bailout, because I could easily get a job anywhere. And whenever I do look for work, I'll proudly list my work experience and accomplishments at AIG on my resume and if anyone has a problem with me not hiding in shame and embarrassment for something I had no part of, they can suck it. F- you for making ignorant generalizations about hard working and honest employees, which account for a majority of AIG's work force.
I have to say I take your side on this. I am happy you all still have jobs as I am a school teacher and have learned next year I will not have a job nor will 25 of my fellow employees because of budget cuts. So continue to hold your head up and go to work everyday with pride.
I dont think that they are bitter or wrong. I TOTALLY agree that the bottom rung should be happy that they have a job. One way or another the ENTIRE company benifitted from the stimulas package. I cant say that I dont feel a bit pissed when I hear how much money you guys make. We are a famiy of 5, I disabled, my husband working for a furniture factory and having a disabled son and a daughter along with a 4 year old. We manage on $18-22K per year. How many of you make that? Huh? While we suffer the way we do, rig up our houses and cars just make them go a little longer, here comes this spot light on your company. If you want to look at the picture correctly, people like US are the ones suffering!
I commend you for getting by on $18-$22 thousand dollars a year but don't hate me for making more money than you do.
Dude . . . truly, my heart goes out to you!!!!
It must REALLY suck to work at that building now. My job is stressful at times but OMG . . . to be spat on by a total stranger! I definitely think they gave the bonuses to the wrong people at AIG.
Maybe you need to talk to some Vietnam vets about how to handle being spat on.
Look into your souls people, the right has called for AIG to dissolve just as often as the left. Here on Newsvine, I have read posts from people on the right who have called for death to people working for AIG. These are the same people who call the President anything but Obama. It is no shock that the folks I go to church with, have no compassion for those who work for this company or who vote for a democrat. When you think you are the only people who want this Nation to succeed and only your party can deliver, you are wrong. There has to be a reason the Republicans are being voted from office. But they still call most of the country socialist or communist. Do some soul searching. Some of us who voted for this President served this Nation and defended your "right" to call us trash or un American. Don't suppose that matters to you, but I put my back side on the line when a lot off these fire breathing righties were avoiding the draft only to get a backbone when some one else does the defending. Your man Dubya was grounded from flight duty for failing to keep up his training, Cheney received deferment after deferment, Rove didn't serve at all, don't know how he avoided service, Rummy didn't serve, Limbaugh grew a cyst up his rear, 4-F, unfit. But gee they and you guys are all proud patriotic Americans more than willing to send young men and women to defend your sorry butts. And now that your parties policies have led to an economic catastrophe, you're ready to kill the worker but not the cause, where is Graham, Delay and others, we know where McCain, Pelosi, Reid, Frank, Boehner, and McConnel are. Your party has more guilt to bear than the dems, but the dems aren't innocent.
Now a for-profit company's employees know what it's like to be at the receiving end of "taxpayer's" ire.
Some of us are so available to the public that we listen to this kind of stuff year in and year out.
Welcome to a part of the real world where people can verbally abuse you like this any time they wish.
P.S. The past tense of "spit" is "spat."
What's the point here?
The point here is people on both sides of the aisle claiming to be caring citizens and then calling for the death of ordinary people working at AIG just doing their jobs. Go through the Net and read the hate for this company and it's employees. No one has said anything defending these people until you read this article. And the other part is my rambling about the heroes of the GOP, they aren't people I have any respect for, but in their case they never defended this country in their youth, but the right is always quoting them as if they can do or say no wrong.
My sympaythy for one who is disdained and shunned by their peers - I empathise - I once worked for a beautiful US multi-national in Tehran, Iran as a TCN (3rd country national) from 1976 to 1979 - this AIG employee now feels the disrespect and outrage of fellow-citizens - I, by association with a "friendly" and well-disposed US civilian enterprise, was spat upon by former Iranian friends and colleagues when the Shah was overthrown - our bus to Mehrehbad airport was stoned by irate Iranians - and now its offered that a dialogue with Pres. Obama is on the cards - willing to talk if "THEY" stop making threats - WAKE UP America - get used to the disrespect and the outright rejection. I took my share on your behalf for representing a great American company in an atmosphere of outright distrust, rejection and hatred for US policy and influence. My personal American acquaintenances are friends - I love them deeply and the friendships forged with them are forever. As people they are remarkable, trustworthy and generous to a fault. However, I would have you understand that for corporate and governmental America - I trust neither as far as I can spit. For your AIG person - sorry - and my sympathy - you are feeling 1st-hand what you don't deserve - wish I could offer my shoulder to share your pain.
I thought the most hated company in the world was going to be a tie between GE, the owner of a "news" outlet aka NBC, or Microsoft. But then I read about AIG... seems the American public IS a bunch of lemmings to believe that a single insurance company can bring down the ENTIRE financial structure of the United States, thereby the ENTIRE world's economy in just about 6 or 7 months. Amazing. How many of the people at AIG are new? How many only earned a dollar as a salary in exchange for bonuses? I haven't heard about this anywhere. And then to give death threats to them??? They broke no law, not a single one. The the management in the White House is getting exactly what they want: Class Warfare. I didn't see any rich people picketing with signs about the bonuses... Anyone else see any rich people out there screaming and chanting and ranting and raving like lunatics?
the people out picketing were all union workers, not ordinary citizens. This demonstration was a set up by SIEU with the blessings of the big labor unions. It was on the news last night and today. Absolutely disgraceful.
I find that the death threats and general pettiness of some people to be rather distasteful, it is a shame that the employees of the company must suffer due to the bad decisions and poor planning and contractual obligations of their employee.
In this job market it is not an easy thing to search for a new job. However "them's the breaks", and the best that anyone can hope for is to continue. Best of luck to the writer.
What I am shaking my head about are the people who said "What's the point of this?" Are you serious? No really... serious? Really? In case you are serious, let me be blunt.
The point that escapes you I hope is obvious to most people... the AIG employees are getting treated like garbage by people on the street... these people don't want to be the targets of misplaced aggression... so leave them alone... it sucks enough to work for AIG... They don't deserve getting spit at, called names, and probably worse... they just want to get through thier day like the rest of us.
They want all the shlubs who are angry at AIG to get a clue and direct thier anger at the correct people, not those guilty by association.
That's the point.
Many people have disliked AIG for years and years. AIG has had "problems" with respect in the insurance industry for many years. Most "old" employees know how Hank ran the company. He was feared by many including most state insurance comms and state attorney generals (State of New Hamshire was in the 1980's). He would "squash" anyone who got in his way and when I say "He" that attitude carried over into management and on down the line to employees (not all but many). The "line workers" were told what to do and do it and don't ask questions/probably had no clue as to what was going on. But that is how Hank wanted AIG to be. Do it His/AIG way or run over them. As AIG grew into other areas (finanicials) I am sure this attitude went with it. The attorney general or whatever he was (New York) was the first to take AIG on and "kicked" Hank out but the attitude had been there too long to change. I believe the reason you are seeing so many people take "aim" at AIG is they feel AIG is finally getting what they deserve. They have resented AIG, hated AIG, feared AIG (I did) and want them to go down and now have a chance to show their feelings toward this company to the rest of the world. AIG should have never been "bailed out" to remain in business but to stablize it and then dissolve it (like they did with the New Hampshire Insurance Company in the 1980's and sell off the good pieces. If the public and especially the insurance agents in the United States knew how many millions of dollars were not paid to them because of AIG's "if they don't ask for the money don't tell them about it and if they do ask about it and they say it is less than what we owe them pay them only what they ask for (make them prove we owe it first). Iowa and Nebraska agents were excluded from this/you got every dime they owed you. This is just but one example of how AIG played the game (there are many more out there but people have been afraid for their jobs/afraid to take AIG on in public so you can see why we feel AIG's finally getting what they deserve. And for your information AIG was going to destroy the markets last fall because they brought out a garbage product that was covering garbage risks for companies that (product) should have never been there in the first place. Remember "garbage in garbage out". Only AIG would bring out such a high risk product and sell it probably knowing if the mortgage market went bad they could not pay out to cover the risks and the companies who bought the insurance would go into default. We would have had a company after company failure and who knows where it would have stopped. I do not agree and people are very wrong in "taking this out" on AIG employees (stupids do that kind of thing) but many years of dislike for AIG has finally come out in the open. AIG has always been "who cares/we are AIG" from the top on down so now everyone suffers. Hopefully other companies will buy up the good pieces (you will work for a new company) and the rest of "AIG" fade into histroy.
This is very true ... AIG has always equated with United Healthcare insurances. People with compensation claims were denied benefits because of AIG adn their stance on "don't pay even with proof". Ordinary people have had their homes taken away from them, turned to food stamps, etc because of AIG and their non-payment policy. Attitude's have filtered down through the rank and file. I do not condone violence, but the "pay back" feeling for the personal financial ruin caused from AIG will take a long time to go away. AIG did this to themselves.
the anger should not be at any financial employee its none of there faults they were doing what they were told and forced to do. even when it all started most of the banks didnt want to do it but they were pressured by bill clinton and congress to make loans more atainable especially for minoritys so they did what the democrats forced them to do. then along came bush things were going well so he didnt change the democatic policys he figured if is not broke why fix it? that was his big mistake. ironicly now the democrats have to fix what they broke in the financial system . if you really want to blame someone its the democratic congress that caused all this mess . i say they should take a 50%pay cut themselves.. however on the automotive front its wagners fault for gms problems he should be shot and pissed on (not in that order)
I do feel for the people that have been left behind to clean up this catastrophic mess. People are angry and hurt like wounded animals and will strike out at anyone affiliated with AIG at this point in time. Just do your job, but never forget that the numbers on your computer screen are people like you. Good luck to you.
Well, on the one hand it's sad, and I agree that no one should make death threats, spit on people, etc.
However, people DO have a choice who they work for. I get so tired of trying to talk to anyone in "Customer Service" anywhere these days. Everyone insists it's the computer's fault, or the credit bureaus, or underwriting, or anyone other than themselves. All of these people may be little cogs, but it takes all of those cogs to make the big machines go, whether they get a bonus or not.
Instead of whining about how awful it is to work for the most recent recipient of the "Most Greedy and Incompetent Company" award, maybe it's time to think about switching jobs and working for someone whose name you'd be proud to wear on your lapel.
I've never known what it's like to be spit on because of the place I worked for. But then again, I've always chosen to work for places that treat their employees fairly, give back to their communities, and don't position themselves to be the icons of corporate avarice and incompetence like AIG, Arthur Anderson, Enron, Bear Sterns, Merrill Lynch, etc., etc., etc.
Well, on the one hand it's sad, and I agree that no one should make death threats, spit on people, etc.
However, people DO have a choice who they work for. I get so tired of trying to talk to anyone in "Customer Service" anywhere these days. Everyone insists it's the computer's fault, or the credit bureaus, or underwriting, or anyone other than themselves. All of these people may be little cogs, but it takes all of those cogs to make the big machines go, whether they get a bonus or not.
Instead of whining about how awful it is to work for the most recent recipient of the "Most Greedy and Incompetent Company" award, maybe it's time to think about switching jobs and working for someone whose name you'd be proud to wear on your lapel.
I've never known what it's like to be spit on because of the place I worked for. But then again, I've always chosen to work for places that treat their employees fairly, give back to their communities, and don't position themselves to be the icons of corporate avarice and incompetence like AIG, Arthur Anderson, Enron, Bear Sterns, Merrill Lynch, etc., etc., etc.
This is a particularly sad story because AIG, the insurance company, was one of the finest companies in the world...until they became greedy. We insured many of our bulk vessels with AIG over a half a century with shipments to over eighty countries. AIG was a fair and reliable partner in our commodities business. Our insurance contracts always had an arbitration clause so we could solve problems amiably. I don't think AIG will survive this economic downturn. Their exposure in credit derivatives is too large for even the US government to solve. Despite the government ownership of 80% of AIG, their credit default swap exposure is over $1.6 trillion and the spreads are growing due to the lack of liquidity and credit worthiness of AIG. The taxpayers will take a bath with the AIG exposure.
I am sure the majority of A.I.G. employee base are fine, honest, hard working individual, and it was a very small majority that brought A.I.G. down. I would be intrested to hear from Countrywide (which I feel is Americas most hated company) employee's about the culture that existed as a group. What I understand, and it is kindof creepy. is that Countrywide used subtle brainwashing tecnics to get such a large percentage of their employee base to commit such a widespread fraud and actually having the employees beleiving they were doing Americans a favor. I guess if Jim Jones could get all those to drink the Koolaid a company can entice a large group to steal.
Excuse me for being somewhat skeptical. I don't believe a word of the story, except that whoever wrote it probably works for AIG/AIU.
My guess is, this is one of the Fat Cat Rats who did get a bonus, and is a troll for AIG/AIU.
Sorry MSNBC, I don't believe a word you say either, that you vetted this individual, etc.
What a self-righteous speech. Especially from someone whose being paid by MY tax dollars!!! To the Devil that prompts 'em their treasonous parles!!!
Attention readers, please do your homework. AIU has not received a single penny from the AIG bailout. AIU has $62+ billion in surplus and continues to pay claims on behalf of its loyal policyholders. Please do not spit on AIU employees, threaten to stage protests at AIU locations, suggest AIU employees look for new jobs in the midst of a recession, etc. Those that do not do their homework, make inaccurate accusations and threaten people are no better than those that actually did contribute to the demise of AIG and accepted millions of dollars in bonuses.
Why don't they use that $62 billion to bailout the parent AIG?
More greed and incompetence is the only expanation!
Again, do your homework. Part of the deal with the Federal Reserve is that AIU cannot lend money to the parent company, AIG.
Hank Greenberg should be in jail. Recipients of the bonuses should give the money back! However, the money sent to counterparts that are not even in this country. This was a scam perpetrated on the American people. The Bush administration for it's part assisted this company with it's scam!
Working a 9 to 5 job is not working hard. If you stated you needed to start working 9 to 7 to help keep your job and keep your company going, I'd have some sympathy.