Article Source: msnbc.com
from:msnbc.comThe Washington Post is reporting Thursday night that American International Group is preparing to pay millions of dollars more in bonuses to several dozen top corporate executives.
You're in Easy Mode. If you prefer, you can use XHTML Mode instead. |
Ally aims to end mortgage woes with ResCap filingAnalysis: Argentines jump through new hoops to get dollarsSNAP Grant Allows Little Rock Homeowner to Replace HVAC Unit After 10 Years Without Central AirThe little things: Managing a micromanagerFive Ways to Tame Your InboxSenior Talent Joins GoPago to Drive Product Development and Expand Sales Multi-Faceted Automotive Mecca Hot Rod City, Home to the World Famous Dezer Collection and Las Vegas Choppers and Tattoo Parlor, Celebrates Its Grand Opening Saturday May 12 From 10-5 Oil price still falling, near $93 a barrelColossus Minerals to Present at Macquarie's "Making the Grade" Mining ConferenceSpain's Repsol sues Argentina over YPF takeover
Leave a Comment:
Quick calculation 2.4 million / 40 executives = 60,000 a piece. Well, that is better than what it was LAST year, but 59,999. thousand more than I got in a raise this year. In fact, after calculating all the increases in medical premiums, co-pays, etc. I actually got a raise of -59.68 a month. But, as these big executives always say, they need these HUGE bonuses to retain the best employees.........yea, so aren't I one of the best employees, the actual worker bee???
OINK OINK .....
OINK
When they pay back ALL of our 180 BILLION with the same interest we all have to pay on our credit cards, then, we as OWNERS of AIG will CONSIDER bonuses. Where are these peoples heads? Where is the governments head? Like you, it is 60K more than my raise for last year!!
Hey...I don't like the Gov't involved in any business, but why do these guys deserve a bonus, even if it was delayed??? Must be for the company's stellar work that year. How much money was lost???
monetary cancer is not curable here..a dirty shame
When a company like AIG setup all of wallstreet to crash there shouldn't be any bonuses at all, and all the scumbags at the top of AIG should be investigated and prosecuted.
AIG execs getting bonuses? I've used their short term missions insurance service, and was satisfied that I didn't need it. But I have to say no to the bonuses. Make them repay the taxpayers first.
Ain't I Greedy strikes again.I'm sorry to say I have insurance with their European arm but not for long.
Here's your bonus!!
Your all lucky to have your jobs, now get back to work!!!!
These bonuses are not performance based bonuses. They are, essentially, part of their salary. When they came to work for AIG they agreed on their salary plus the bonuses to pay at certain intervals.
Absolutely not....you don't give bonus's for contributing to the destabilization of the U.S. economy and the failure of a company, that said in the United States we pay for failure and reward greed and failure. there is not a CEO in this nation worth the outrages bonus's that have been paid out over the last ten years, the world is not in a recession because of international business incompetence, but because of U.S. business fraud and incompetence. After the S&L scandal laws were written to mandate investigations, and the Governments RIGHT to fire corporate CEO's and board members involved in the crisis, that's not some new precedent this adminstration is implementing, its what is required and what should be done BY LAW, sorry for not naming the law will try and get back for actual law, it can be found on PBS.org William Blackman interview with Bill Moyers, Blackman was involved with the oversight of the S&L scandal.
just another way to feed the greed
Amen! I actually had a pay decrease in 2008 - $200 pay decrease and when you only made $12 per hour that really hurts. Especially after you had just purchased a house then after making that adjustment I was laid off 2 months later. Now I make $500 less per month drawing unemployment. Thank you Lord for unemployment laws.It is sad how many people educated or not are sitting at home with little or no groceries b/c it takes everything you have to keep the roof over your head and yet the executives not only will get a bonus now but 2 more throughout this year.
The only reason AIG was bailed out in the first place is because they are the ones who hold the retirement packages for congress and government employees. Politicans are covering their arses at the expense of the taxpayers and the swine who caused the mess are given bonuses...effin nice. I guess my moral standards are too high...if I really want to get ahead I need to learn how to lie, cheat and steal!
I'll give them a bonus: prison terms for upper management and fire middle management.
Wait a minute. Don't WE own 40% of AIG? Our taxpayer proxy votes say no bonus.
Slinger, we give YOU the 1 and only $59,999 bonus for being the first to post.
"The troubled insurance giant has been pressing the federal government to bless the payments in hopes of shielding itself from renewed public outrage."
Hey, no problem.....Dobbs is the man to get it done. Sneak through a little legislation and it's a done deal. For all of us out in that place called reality who have lost their jobs this is one big kick in the face if they get their little bonus's. I'm sorry but the AIG executives are screwups our congresspeople are screwups and they all seem to be covering each others backs real nice while the economy collapses. And to top it off they know it's probably not right themselves if they want the government to shield them from the public. Just great. Nice job!
Who cares? If everybody is going to get all bent out of shape and ACORN will bus their people to these folks homes. Look at Citibank, Bank of America, and dozen of other companies that got the 'stimulus' money and nobody said a thing.
What gets me is this...when the green shoots everywhere are turning to pond scum and politicians are calling for yet another stimulus, there does not seem to be a single able minded soul that can figure out why the stimulus package has failed to produce the expected results. Here it is plain as day! It would be fine to pay a bonus after you first pay back the 100s of billions owed! The stimulus dollars are not stimulating the economy...they are stimulating the crooks! If this is the best we can do god help us! Obama's ratings are not suprisingly dropping like a stone. It is becoming clear that the democrats have failed to tackle the fundamental issues and provide an effective solution.
Your post and the article reminded me of something from Orwell. In "Animal Farm" he wrote, "all animals are equal, but SOME ARE MORE EQUAL THAN OTHERS"!
And if you were a competitor, why would you want to hire people who were responsible (or should I say irresponsible?) for almost taking down what once was a solvent and well managed company? Where's a claw back when one is needed????
thecryingprophet...
You could always become a central banker!
These guys gave up their right to a bonus, especially a delayed 2008 bonus, when they screwed us of our hard earned 401K/ stock portfolio savings!
And if Slinger's calculations (of a potential $60,000 each) is even remotely in the ballpark, that's MORE than I make in a year. And this is a BONUS?. AIG and the other companies LOST money. You don't deserve a bonus if you lost the company money...you should be penalized or fired.
Why don't they just learn to live within their salary, and do the jobs they were hired to do. They shouldn't need a bonus as incentive
I don't care about the "idea" of bonuses,but I HATE when they steal our hard earned tax dollars to pay these lazy bums!! Let the Damn company fail! When are we going to all rise up ans say enough is enough no more taxes?
The last time I checked a bonus was when you did a good job, and the company made a profit. I would say that if they made that big of a profit in 2008 why the hell did they need 180 billion from the gov't?? Oh maybe they are counting that as profit, cuz we just keep getting screwed, way to go America, and thank you George Bush.
"Fiat Money in death throws"...
http://europac.net/voicesframeset.asp?id=50
AMEN, Patriotic American! Can anyone say "French Revolution" or "Off with their heads!"? Those AIG jerks think they are entitled. Entitled, my red, white and blue a**! They all need to take in one homeless family for every single room they've got in their huge homes. Too good? Too freaking bad!
So Tim -
I'm sure that these bonuses were also given out, because of superior service to the company, and I'm also sure the bonus was for profits made. Since there were no profits, thus no bonuses. The taxpayer money was to keep them afloat, because we all know that they were to big to fail.
I seriously doubt that the taxpayer's will ever see a penny of their money returned. 180+ Billion dollars. I don't know about you, but these so called experts were already making big bucks, so the bonus, though large for most of us, was probably a small amount to them.
Obama's administration is pathetic! How do you "loan" 180 BILLION without strict guidelines to prevent the problem from continuing??? These executives ARE the problem
Slinger - Obviously your employer doesnt think so, or you would have gotten a better compensation package. may want to talk that over with your employer though, remember you work there by choice, both yours and theirs.
The same people complaining about how the company is spending their money while having a "loan" with the taxpayer's money must also agree that their own mortgages, car payments and credit card bills are paid in full before spending their money on the utilities, food & clothing, fuel, etc.
Longhair....you have completeley and totally missed the point.
Bonuses are paid for success in a free-market economy. To be still on the hook for billions due to failed execution and still expect bonuses! That is crony capitalism! This is typically what happens in socialist countries.
"Back in the U.S.S.A."...
http://europac.net/externalframeset.asp?from=home&id=16546&type=schiff
PAY BACK THE MONEY YOU OWE BEFORE PAYING ANY BONUS'S!
You received tax payer bailout, It can not be business as usual!
The whole country has to pinch for pennies, why should you benefit from our loss!!!!
No FRICKIN BONUS'S!!
Millions of people are losing their jobs these guys wouldn't be in business without the money from those who lost their jobs and those who haven't. Responsibilty would dictate the paying of loans before the paying of bonus's. More now than ever!
I cannot express how unbalanced this truly is.
They take our money and flourish while we continue to suffer.
They should also get their choice of a new home from the MANY in foreclosure and their pick of a new car off the lot of any GM dealer still open.Whats a 180 Billion to a BIG magaffer like Obama.
Don't we own Aig? I mean without the American people they would not exist. Irregardless of who gave you our money, Its our Money! With out our Money Bonus's wouldn't be an issue AIG would not exist. Be lucky you have a job.
We should have a special election in which we can all vote on their bonus's and ceo's pay.
We OWN you Beotch!
Enough someone with some clout please stand UP!
an average of 60k each.
IF the executives getting the bonus had NOTHING to to with the "mortgage based derivitaves" debacle that was the cause of AIG nearly going belly up and requiring thiat ridiculous bailout, AND the division/departments that these execs head were profitable in and of themselves, THEN I have no problem with paying them these bonuses.
AFTER that, break up AIG into those seperate, profitable businesses so we don't have to worry any longer about companies that are "too big to fail" dragging the entire global economy(and especially the US economy) into the sewer.
The really unbelievable part of this whole saga is that "too big to fail" has been around for decades and none of the politicians have the will to do a darn thing about it! Forget about did'nt see it coming! "Too big to fail" appears to be one of the keystones of the massive transfer of wealth undertaking that transpired recently due to carefully orchestrated policies of the Federal Reserve Bank (in particular the massive easing of credit under Greenspan....even after he publicly announced there were some signs of overheating or froth as he put it, he then proceeded to extend massive amounts of liquidity which helped lead to the meltdown!)
Audit the FED. What is there to hide after all?
And this time, the Government can't CLAIM they didn't know.
OMG - Is a CZAR going to actually DO something???
And you KNOW he's gonna choose wrong...
OINK OINK OINK - follow the money. It's headed to Washington!!!
If you can't retain your best employees based on your mission and your goals in this economic environment, you probably need to reasses their value to your company. If there is loyalty and a belief that your company makes a difference, then they will be compensated by continued employment. If there is no loyalty, and want to jump ship for more money, you don't want them anyway. People making decision based upon bonus money earned never make the right long term decisions. Adios
Here you go!! Solution Right Here
Another ""Bailout" this time buy AIG completely than transform it into the Middle Classes National Health Care Company. We already have a large steak into AIG why start from scratch when you can just finish paying off AIG.
Who came up with this game? And who the hell made all these rules for all of us?
A wonderful thing that deregulation, praise to the thieves.
Suuueeeeeee! All boss hogs to the trough, it's feeding time (again)..............
That's right, keep approving those bonuses for people who would otherwise be unemployed right now had the govt. not bailed them out. If there's anything to be learned from this debacle, voters must insist that Washington has to do away with lobbying. The lobbies, have quite simply bought off all our politicians, and the politicians will continue to do their bidding if we don't put an end to it now!
Outraged taxpayer # 3284738748, you missed the point.
What you are saying is that the companies who took loans out should pay them back before going back to their "normal" business practices.
Now using your logic:
It is only fair for the companies that you owe money to say that you have to pay them back before putting food on the table.
How many people here think that in 2008 these people honestly made AIG profit, in the real world that we all live in NO PROFIT means no bonus, but since they have OUR bailout money they are spreading it among them selves, this is a bunch of BS and we all know that, it does not matter on the amount of the bonus it's that fact that without OUR bailout money these clowns would probably be unemployed as they should be.
I just thought of something, maybe the government should have a vote button system in stalled in every household and the adults would be able to vote on important matters that affect US, instead of having these people pay back their friends or contributors with our money, I bet things would really change then, there would be less corruption by our politicians because companies would not buy their way in, there would be no one that could manipulate where the money goes because We the people would have our say.....
I always did say that in these internet times politicians were obsolete. We should all vote on the issues and they could just be our secretaries.
That's yet another reason I call insurance companies the American arm of the mafia.
It should be NO BAIL OUT or NO BONUSES What so ever!!!! Obamas team is worthless...they never stand up when they should and they spend like we have it....it is bull....
GM had to bow down to them to get through the bankruptcy...dictating every move they make...while AIG continuously RIPS US OFF using the Bail Out Money for bonuses for people that HAVE FAILED in doing their jobs....how stupid is that?????
Again...we need a leader (Commander and Chief) that actually cares about the American people that WORK for a living...instead of GIVING to those that work the system.
WTF hey just let them give out the bonuses, I mean WTF howch more can they screw me, let them dig into my pockets they are empty, The only satisfaction I could possibly receive now would be some natural disaster that would focus itself on all those politicians that have found the way to totally and completely find a way to devastate, our economy, self pride, and dignity. I say Damn to all those Free loaders that they pulled out of almost everywhere and voted this self centered, ignorant individual into power who has surround himself with a group of individuals even dumber then he is . Damn them all. I have never wish bad things on anyone, but may everyone involve directly or indirectly with taking this country down, my misfortunes ( not of my own doing but their's) be multiple unto each and everyone of you all. And may a time come that each and everyone of you be judged and condemned for the damage that you have brought upon this great nation of ours. may I live to see that day. yes I am one pissed of American and fed up with all this BS
Considering they've been writing monthly checks to a bunch of these politicians all along and still are, I am of the opinion that their darned retirement fund ought to be rolled over into the Social Security Fund and let them fix that instead of insuring their retirement fund separately with AIG!
This is pure and simple BS and the taxpayers should be outraged. Running to their cronies in the government should get everyone of them blacklisted and any official who approves them is stepping knee-deep into a pile of manure.
These insurance companies are the ones they want to force us to pay for mandatory health insurance and it is nothing but a gangster government move!
These companies are not paying as high bonuses because they gave them all raises for the rest and it was legal for them to do it.
Only if the Government and all of it's officials and ALL of the Bail out Company's have to live by the same standards as the working class...Same Pension plans, Same Health Care, Same Social Security, Same Pay Scales....will our country start to heal.....Right now...it is just the working class Americans that are paying for all of the PORK that is allowed by NoBama and his cronies....What if Nancy Pelosi's husband actually had to run his business by the same standards as the Small Business???? He would go out of business!!! We don't need any more spending from the lack of wise decisions made by Nancy and her corrupt friends....we need Tax Cuts to the Small Businesses to get this economy rolling....As long as Obama is in office...we will continue to go downhill and into a Socialist World....We need to VOTE in 2010 for Representatives that actually represent us!!!! And...vote Obama OUT next election. Americans need to QUIT being Apathetic.....Start calling your politicians and tell them what you want. We can change all of this IF WE VOTE for People that represent the Average Joe's. If a company is successful then the ones who made it successful should be rewarded...but for companies getting government money (OUR MONEY) they should not be rewarded for their failures....how pitiful.
Someone way up there made a good comment. These bonuses are part of their negotiated salary from when they were hired, and are not performance based. Therefore, I suppose we can't really squawk, if this is true. However, even if we do protest in spite of this information, that tells me that there is a right and a wrong, and the right thing, the moral thing, the good thing for AIG to do is to seriously consider withholding the bonuses. If these are indeed part of the the salary, the recipients may have planned for them, even as we do, but in smaller amounts, and to not get it may present a real problem.
I have taken the time to write to both my Senators and my one Representative. Do I have any faith that they will do anything about this? None. It seems that every day that passes, this great experiment in democracy is failing. The people that are sent to Washington to represent us care more for the lobbyists and the money they receive from them than the people who sent them there. I do think I will hear from both Senators and the representative but not today. I'll hear from them when it is time for their re-election campaign. That seems to be the only time we ever get an audience with these people, unless I have cash to donate to their campaigns. Disillusioned? You bet. As for the bonuses, there will be some outrage on capital hill but it won't do any good. These greedy SOB's will still get their bonuses and in a few months they'll be back at the trough wanting more. What can the average American do about this? Doesn't seem like there is anyone listening to us anymore.
One time I found an error that saved my company about 100K. My bonus was 2 movie tickets and I got to go home earlier and not take PTO. I was happy with that compensation. I was doing my job...something didn't look right...I asked questions...and follow through. That's what I get paid for...to do my job. I don't make 60K a year....and can't really think of something that one person could do to get that kind of bonus. It's like they sabotage their work first...then fix it...and then cash their bonus checks.
When the politicians and businessmen (financial) recognize that the last days are coming and there is no way to really save a country, they all GRAB whatever they can. How many political payoffs are involved in this. (hush money). Just more "Last Days" lunacy.
Well said +1
Hope they all enjoy their new jobs selling burgers at Burger King. AIG did twice as much damage as Madloff, with a slimy vehicle called derivatives. Some one explain the difference between the derivative market and a Ponzi scheme?
Folks:
What part of "they don't get it" do they don't get? These jerks are blinded by greed; they are blind to their own failings; they are exhibiting no remorse or compassion; they are unworthy of our compassion; they deserve no more public money.
I am certain that those who will undoubtable get this money, no matter what the taxpayer says about this, think they are without blame in the current mess that their company and so many companies like theirs contributed to with their unholy efforts pursuing fast and easy cash, however they are guilty by association in the eyes of billions of people. That's a stink that does not go away. Their names must be part of the public record since they are being paid by public funds, so they should think twice before accepting this dirty cash.
Good God and Good Luck!
This company needs to just be allowed to go out of business. The decrease in value leading to analysts stating there is 0 equity value in it means the 180 billions we gave is gone. No bonus, shut the doors and bury this place. I sound pissed- I am . I lost money with AIG thinking it to be a semi-sound investment and then went into shock at its rapid demise. My fault for not reacting fast enough and my fault for wasting money I shouldn't have but lets just end this farce and bury them.
And I am not aksing for a bailout though a change to the tax code to allow those of us who have lost our ass in the market to take those losses in full against current income would be nice- I would not have to pay taxes for a couple of years if they did that.
Pay reasonable bonuses....increase social security.....add a dividend to unemployment compensation and welfare recipients....increase the minimum wage.....increase everyones wages.......get the money out there so we can get out of this mess!!!!!
Craig Speakman:
Thank you for putting the blame where it belongs. Do away with the lobbyists who are buying our politicians.
60k.... that's more than i made last year. pathetic s.o.b.'s.
"The troubled insurance giant has been pressing the federal government to bless the payments in hopes of shielding itself from renewed public outrage..."
Let me get this straight....AIG believes if the government says it's "ok" to hand out these bonuses, the public won't be outraged?
Greed is slowly ruining America.
we need another E. Spitzer to go after these criminals and lock them up in the same cell as buba and stand by and record how they squeal like the pigs that they are.
I really do not understand some of the people here on the vine..
It does not matter one bit if you got a raise or not.
It does not matter one bit if you lost your job and they did not. ( sorry you did but it is not revelant here)
If you agreed to work at your job, and you had a set ammount of money comming to you by whatever date ON TOP of your weekly contract, you would expect that money. Everything else does not matter. The reason everyone is in an uproar about all of this is the word " bonus ". When in fact it is not a bonus because the money due was set up in the contract signed when they agreed to do the job.
I can say with 100 percent fact, that if I signed a contract that said I got the money on XXX date and I didnt get the money I would sue the company for breach of contract. Just like everyone of you would do. You are pissed that the bailout happened, hey I dont like it either, but that does not mean the company does not have to uphold its contractual commitments.
Im not rich by anymeans, hell at times I am down right not paying my bills on time just to get by. The difference is I expect people to live by their contracts they sign.
the word bonus does allow the imagination to wander. they still shouldn't receive any extra monies. it should have also been in the contract that in the event of financial hardship, salaries will be adjusted (or maybe in the agreement when they took the bailout).
Jeremy, I'm sorry but when the company came to the US taxpayer for a bailout, those employment signon agreements were not signed with taxpayer in mind. Those became null and void. If those people think they are entitled to a bonus for ruining a company with their actions, how about they get on the unemployment line with the 10% of this country that is currently there. See what company will hire them with bancrupting a company on their resume. GREED is what this is all about. These executives should be replaced for causing or having a hand in the cause of our current economic problems, not rewarded for doing it. When was the last time you got a $60000 bonus for f'ing the American taxpayer.
Riddle me this...
AIG has been bailed out with many many times the dollars that were used to bailout Chrysler and GM combined....The car companies were foced into bankruptcy and yet AIG is still a going concern. What gives?
I'm up for renewal next month on 4 vehicles.....trucks and sports cars.......nice high premiums......guess who isn't going to insure them.........AIG..........even if I have to pay more at another insurance company..............
AIG.......you screwed us americans.........now it's our turn.....bend over plz...........
These executive do not deserve any bonuses. Gwbush is the one who gave aig the $180 billion in bailout with no strings attached not Obama. This whole economic downturn is bush's fault because he knew he was leaving and was not going to do nothing about it except screw the taxpayers like he always did. gwbush is the biggest fraud this country has ever seen and will ever see. gwbush is a traitor and should be tried fo treason.
TimKaso
It doesn't matter WHAT the terms of their agreement WAS when they hired on at AIG - IF it was not for the billions of our money thrown at them in the Stimulus Package, there "WOULD NOT BE AN AIG COMPANY TODAY"!!!
It's just that simple!! If AIG still can not pay for it's own existance and hasn't repaid a single cent of the Stimulus money they have already been given.......fire the top executives - (like they did with GM) - take ownership of 60% of the company - (like they did with GM) - throw them into bankruptcy - (like they did with GM) - put hundreds of thousands of employees out of work - (like they did with GM)!!
At least GM "IS" paying back the Stimulus money and working it's way out of bankruptcy!! What advancement has AIG shown from the Stimulus money they received so far? First thing they did with the last billions of dollars WE gave them was to throw themselves a hugely expensive celebration party!!
Let them fail and shut down completely! Start new company, or companies, from the huge number of executives and employees who lost their jobs due to the economic disaster that AIG is HUGELY responsible for in the first place!! Use AIG's most recent request for yet more Stimulus money for start-up expense and wages of the NEW companies that will replace AIG!!!
Jack..
Sorry but thats not the way it works. The ONLY way that the employee contract becomes null and void is for them to be fired and im sure that there are some other clauses in there about termination fees. The Gvmnt might have been able to add a clause in the bailout contact to null and void all extra moneys that employees are due but they didnt.
Simply put, they are due the money from the contract they signed and should get it. It doesnt matter what the emotions of public opinion says.
To Isn'tchangegood
Please look at history. This has been comming for A LONG TIME not just the 8 years of Bush. To Paraphrase what Bush said when he left.. There was a recession when I came into office, and there is a recession when I left office. Its been proven that this started Long before Bush came into office you just do not want to see it. After all Blame Bush seems to be the mantra of a lot of people here. He did a lot of crap wrong, and he does not get a free pass from me on other issues, but this is not all his fault.
AMEN for all the worker bees! All I can say to AIG is WTF, mate!
Jeremy, we can agree to disagree. The last thing I'll say to you on this is that if the US government didn't bail this company out of the mess they created, there wouldn't be any bonuses becasue there wouldn't be a company. In these very bad economic times, demanding something unearned like these bonuses is immoral, especially while 10% of thepopulation is out of work and probably 50% of the people working aren't sure about the companies they work for.
TimKaso, that's not our problem. The American taxpayers don't owe them ONE DIME. If AIG owes them money let them sue AIG.
Jeremy wrote:
Let me just play devil's advocate for a minute. How much did you make for your employer in the way of a profit? I am not condoning these out of control bonuses at all, but by the same token sit back and think for a second and do some research. AIG has a multitude of divisions that are profitable. Many of these "new" executives (and existing ones) were asked to forego their income and work for $1 and a bonus based on new business, business retention, profits. If they succesfully managed to trigger their bonus then in reality who is to blame? Don't take all of your anger out on those who are to be the recipient of that bonus. They just negotiated well. I worked in the insurance industry for years (no longer do) albeit on the broker side and not the company side. But it was industry standard for many to receive 40% of the commission earned the first year and 25% on renewals (and even higher in the Life/Health field). It really is not that hard to hit the kid of bonus levels being discussed here. I know I did it myself easily surpassing the average being discussed here and that was 20 years ago. Is it right? No, but it's what is unfortunately out there and available to the employees in that industry. If you think it's so easy, well then there isn't anything stopping you from entering that same career path now is there?
Jeremy
Yes it does, since it is not AIG's money to give. Get your bonus out of what is left of AIG's assets minus the $180 billion of my and my fellow taxpayers money. You have already received your bonus, you are not in a federal penal institution for being accomplice to a Ponzi scheme.
You guys who play the blame game have to realize that it isn't a one man show and Rep's and Dem's are players as we all are. Its not just about the game its about how you play the game.
I believe the simple fact still remains that we have an over abundance of businessman and not enough workers. The businessman's job is to ensure your efficiency to produce more while paying you less to increase said entities profit.
I look at history of business as this, years ago they produced a product to give people what they need and in return they made a profit, NOW However we look at the bottom line and figure ways to make money.
We need and would benefit from the falling of these super corporations, Not all are in business to strictly make money! Its about Capital Attitude!
These corporations must have a moral obligation to the community as with out community there isn't a need for corporations! We can all benefit from a Capital Attitude change in our Corporate America.
We must stop corporations from influencing government decisions! Must!
Corporate America = Moderna Day Slavery
Any bonus I ever heard of was either based on personal performance, or the collective performance of the whole and distributed evenly...not an automatic "gimme"...
I think if they allow this, the villagers will be out for blood this time
AIG should be hanging its collective head in shame.
There are many on here and every post I've read that decry government involvment and say we are becoming a socialistic state. But the actions of AIG and other companies who will not self discipline themselves, force the govt. to do something. Why they don't see that this is just wrong, is a mystery to me. Now when the govt. gets on them, or intervenes, just remember they could have done it themselves, but the greed and love of money, was too much to ignore. Pitiful!!!!!!
1) AIG took far more bailout dollars than GM and Chrysler combined.
2) Chrysler and GM were forced into bankruptcy while AIG is still a going concern with no end in sight.
3) Now we are talking about giving the guys at AIG yet another multi-million dollar bonus.
As the saying goes....something really stinks and it ain't the fish!
No Slinger. You deserve to be on the street because you're a dirty plebeian. You probably never worked hard in your life because you're lazy. You probably didn't bother going to a good college because you are stupid. You probably didn't get a good job because you were incompetent, and you probably didn't climb the corporate ladder like these guys because plainly, you just don't have what it takes. I am tired of lazy poors complaining and attacking hard working folk who got where they are because they did the work. You couldn't clean the floors at AIG.
Logan - is it sarcasm or you are for real?
As someone who's worked hard all my life so I could end up in a good situation it bothers the hell outta me when people who didn't do what I did try to take away what I get out of pure class jealousy. My family came to this country with less than $100, but now I'm a graduate from Yale with good job prospects, but these jokers say THEY are the working class and I'm the unworthy one with the silver spoon?
Logan Jenkins Please wipe mouth, your brown lipstick is showing. Oh and brush your teeth.
Abishag why aren't you earning million dollar bonuses? What story of woe put these guys ahead of you on the totem pole? I bet you could price assets with the best of em huh?
Logan - you're the one who is incompetent for throwing out personal attacks when you don't know someone. I honestly hope you are not in corporate management due to you're attitude. The fact is the AIG's upper management has NOT done anything during the last year to warrant any type of bonus. If you are a manager you should know it is the people working for you that make things happen.
Logan..
FYI
On a totem pole the placement is Above or Below.
You're comments are "hogwash"
Oink Oink!!!
I think Logan is a little over sensitive about AIG and bonuses. What's the matter, Logan you get the memo that your big bonus and all your perks are going down the toilet where they belong? Hey, let me help you a little with that....I'll donate some Drano to help it down a little...........
Unfortunately, nobody tries to see it from the others point of view. Yes, I'm sure these guys got where they did because they are great at making money for their company. Unfortunately, a lot of times they do it with the accumulated money of "the lazy poors" you speak of. Your paycheck doesn't define how hard you work. It is just an arbitrary standard of value that we have set for the type of work a person does. Whether your a "hard working rich" or "a lazy poor", we should still show some respect for one another, because it takes all of us to keep the cash flowing in the economy and in turn keep the capitalist machine running. I think everyone in this economic spectrum should be at least be able to enjoy their part in it.
Logan JekinsMaybe your PARENTS did come to this country with less than $100. That probably means that because of their IMMIGRANT status they where offered more opportunities than the resat of us. Me, I'm just a working class Joe. But I have no respect for people who make a living using other people's money. (Look how well our 401K's are doing now). These are are the same A$$ wipes that are looking for bonuses. Let them have their bonuses. As soon as they repay Uncle Sam what they borrowed first. Or better yet give them their bonuses in company stock that they can not sell until all government loans are repaid. Then they will earn it, or they can just wipe their butts with the worthless paper they received.
Money has deranged poor Logan. It seems he has forgotten where he came from. What will he have when all the money is gone? No friends, no good will, no self-image. I have almost nothing, but it is enough. When I see Logan's spew, I almost feel sorry for him.
Logan, when you are done licking the boots of AIG executives, perhaps you could sign up for a course in manners. Slinger, don't worry sis. Logan's a meany and probably hasn't figgured out that his self worth has nothing to do with brown nosing the suits. I guess he hopes the bosses are reading this, and maybe he'll get that raise and corner office.
Ain't I Greedy sucks a$$ Logan.Your attitude of entitlement is exactly what is wrong with America.You don't deserve Jack $h*t besides base salary unless you earn it.To try and tell me these AIG losers are the best of the best is pissing on my boots and telling me it's raining and you don't want to do that because I'll use your head as a mop over Ain't I Greedy's floors.
Oh, and Logan, who paid for your college education? Congratulations on your degree. Now, go and figure out that if you are blessed with a good job, it's so you can help others. And if you don't, you are a rat and will end up a bitter, old man clinging to every dollar you made, hated by your family and all who know you. With your attitude, perhaps you're already there. I don't know what's going on in your personal life that makes you such a jerk, but get over it pal. Life has a way of humbling a person. It's better to choose humility, than be humbled. Figure it out. Or your degree will be the millstone around your neck that get's you drowned in the river.
wow, pretty defensive, dude...
aig took 180 BILLION from the taxpayers...
they don't deserve jobs, let alone bonuses, if they cannot run a company profitably.
this is not what taxes are supposed to be for.
Logan is pissy cause all that money spent at Yale and no one will hire him.
Logan just because someone does not go to what you consider a good college means they are stupid. And not everyone who is poor is lazy!!!!! What universe did you come from whether you wash dishes, scrub floors or run a company not a single one of those jobs are more important than the others. What is important is that you do your job well and are not a snob like you seem to be. I also noticed that you said good job prospects does that mean that your silver spoon has not gotten you a job yet? Prospects don't mean squat and are you hoping for an AIG job so you can also steal from the taxpayers or did you work for Madoff.
He works for AIG, hahahhhahahahah
I had to chime in on this logan. Nobody has denied your accomplishments on your hard work,i commend you. the issue here is EXCESS. Nobody deserves a bonus for poor performance,i would get fired if i did this. this modern culture seems to reward ill performance and dehumanize to the lowly low totem pole worker as you put it. those lowlys are treated as a tool or a expense,or a number. it is definitely a two class system now,but mark my words,people are going to get tired of getting screwed by the rich and powerful.the people will have revenge some day. I'm sure you don't like to be taken advantage of,what give the rich and powerful to do just that. try tasting that sh_t end of the stick for once,it may not taste so good............
Actually, while I'm totally against the bonuses to AIG execs until they and the company perform to a level where they can pay the bailout money, and I don't agree wit everything Logan says, there is some truth in his post, and I think a lot of people don't want to acknowledge it. As a manager with hiring/firing ability, what I've noted (and I've discussed this with a lot of other managers in totally divergent industries), the vast majority of workers at all levels are mediocre to incompetent in their performance on the job. About 80%. Admins who can't type a simple coherent business letter/email or use basic computer programs. Salespeople who don't learn and understand their product enough to sell it, and who don't try to learn and improve sales skills. Editors who can't edit. Writers who can't write. Customer service reps with attitudes towards customers. Very few people stand out, very few people really make an effort to contribute to the profitability of the company they work for (and believe me, the standouts get recognized and rewarded - companies can't afford to lose them). All the want to do is clock in their 8 hours and forget about the job. They're not willing to go above and beyond, they won't take use any of their 'personal' time to improve their job skills, engage in continuing professional development, education, etc... Guess what, when times get tighter and companies have to cut people, do you think they lay off the performers? Or the deadwood? This doesn't include people unemployed when an entire division or company shuts down, but when there are selective lay-offs, these are great opportunities to get rid of the people who aren't adding much if anything to the bottom line. And the really versatile go-getters who do get caught by a company closing aren't going to have a hard time finding a new position - businesses aren't stupid - they'll snap up an outstanding candidate when they find them. I've seen a lot of job candidates whose resumes are a mess, who don't make any effort to figure out how they can benefit the company, their applications are generic, etc... And they don't get job offers... and then they complain about the job market. So, if you're worried about job security, or out of a job, focus on what you can do to improve yourself (and make this a lifelong attitude of continuos learning), and make yourself invaluable to an employer, and go beyond the 80% who don't do this, and you'll never have to worry again.
The hardest workers don't have college degrees. They break their backs in the hot sun, or slave in factories, struggling to compete against the Chinese, with the shop foreman breathing down their backs. They don't have fancy suits, nice haircuts, and manicured fingernails. They do the work that keeps this nation running, like pouring asphalt for Logan's Mercedes-Benz to get a smooth ride. And jerks like Logan lord over them as if they are aristocrats, and the peons are working for them. It is an illusion born of ignorance and arrogance. You better believe there is class warfare in America - it's the wealthy against the working class. Revolution is inevitable.
Gadfly-1114997,
Interesting view.... Have you been to a networking event lately? If you had you would run into a number of very sharp people that are out of work. Companies not looking for sharp people, they are looking for highly educated people (MBAs), which are not the same as intelligence. Sure some are both, but most are not both. People today are hiring people that will kiss butt and not up stage them. And the rule you point at the end is a 80/20 rule, not 20/80 rule, 80 percent of the work is done by 20% of the people... And I did not have to school to learn that one.... If you want to stand out, you have to be above 20%, and I'm very willing to bet of the 10% unemployed, 7% have many years of wisdom about the companies, the problem they understood the concept of profits are better then losses....
Before you jump to any conclusions... I'm educated (because of the games played today), Senior level (VP level), and I'm completely applauded at the hiring practices of today's market. Oh... in my 22 years, I have only had to fire one person. One of the keys to management is to mentor others, not treat them like an pile of crap. I hear it all the time, "well if Jimmy is not working out, just let him go." WRONG, you work with Jimmy... that is one of the key roles.
Avoiding Risk is the name of the game today, so companies are looking for Degree and Certifications.
Normally I don't respond to the criticism but in this case I feel I have to defend myself. Actually, I am a line worker for a utility company. You know the person who goes out in the worst of storms for 20 hours a day, back to back to restore power and phone when you lose your utilities in these storms. The person, who you want to see when your power and phones have been out for a week. I at times, work straight through the night, sometimes up to 36 hours straight before, I go to sleep. I am the person you want when your power and phones go out, because I work extremely hard to get you what you want. Your life back. I also, am eductated and have a degree in Business but chose a profession, that would give me benefits and wages that gave my children a comfortable life. When I saw them, unfortunately I have made sacrifices. My point at the beginning of this post was to be sarcastic in the fact of the extreme difference in compensation in America. The person who actually goes out and takes the risk of exposure and dangerous conditions that I do, and our corporate MASTERS who get these huge bonuses, is absurd! They should not get bonuses 1,000 x larger than the workers. Our corporate "Master" just received a bonus of several million, while the worker bee (me) had to pay more and take home less. How is that fair?
Logan, you should do very well in the corporate environment. You score low on empathy and are under the misguided illusion that you are the sole controller of your destiny. Have fun with your Monopoly set.
logan's an a@#. why should "top exec's" get any bonuse for running a company in the ground. were my ballots lost? you know the ones we were supposed to get(since this is a democracy) to vote yes or no on giving bailouts. did anyone else get one?
See, this is why you're suspended.
Don't feed trolls, folks.
NO BONUSES!!!!! They shouldn't be worried that they will lose their very talented CEOs because they were the ones who didn't do their jobs causing the companies to go down the tubes in the first place!!!!! There are so many out there who are considered overqualified for the little jobs, I don't think they'd have one bit of trouble getting new people who would be happy to get the work, even without a bonus! No companies are paying bonuses. They're just happy to stay afloat! These companies have a lot of gall giving raises and bonuses with OUR MONEY! Since it's MY money, I say NO!!!!!!!!!
Not just no, Hell no!!!!
Any politician that votes to approve bonuses for a company that took Taxpayer bailout money, needs to be horse-whipped, tared & feathered and then booted out of office!!!
The greed and corruption will only stop, when fed-up taxpayers make it stop!!
Maybe it's time for a real revolt like in those other countries, I know there are many people that are fed up with this one hand washes the other crap. We are the ones that will get stuck the rest of our lives paying the tab, while these POS politicians laugh their way to the bank. And we Americans have GUNS not like those poor Iranians.
Amen to that. I believe Americans need to unite and organize a revolt (peacefully of course) nationwide. It's the only way we will be heard.
Shay= Please whisper this. Don't you know 'Big Brother" is watching everything we do now. Next thing will be to declare everybody that has a dissenting opinion as a "domestic terrorist". They already have the infrastructure in place to keep the "American" public from doing anything except march around and carry a few lil signs. The catalog of logged IP addresses must be enormous by now.
Thanks George for the reality check. I appreciate that. I'm just frustrated.
I say put the AIG executives in the same jail cell as Bernie Madoff. And THROW AWAY THE KEY!!! When is the American Public going to say enough is enough? It is time for the citizens of this country to take back our government and our country. No more bailouts to the AIG's of this country. I hope the next time I check this newsvine there are thousands of people as outraged as Slinger and I are. And I hope the AIG website is bombarded!! Put these bastards out of business once and for all. This company does not deserve to survive!!
we need new representation in washington, the people in the senate and house are corrupt and just as incompetent as these aig nincompoops.
they are not representing us. none of them.
no taxation without representation!
Time to go kiss Pope Obama the first (and hopefully last) ring finger. What a joke!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
What does this have to do wiht anything here? Can you read? You misunderstood statements in another thread if I recall.
Obama took over GM and gave the biggest bonus ever to his precious union voters...GM.
Obama gave millions upon millions upon millions to ACORN as a "bonus" for helping him win the election.
Get a clue
The money given or set to be given to ACORN is in the Stimulus Bill and the Omnibus Bill. And UAW received ownership of GM ahead of certified investors. This has all been in the news for the last few months, Leafgreen.
I can't believe this. The company is broke and using tax payer money to pay bonuses.
I give up. I don't give a damn what this government does.
Greed, no shame - synonyms for AIG
That is the capitalistic way and all you Rekooklicans have howled and whined that we democrats are trying to turn into socialism. Watch, if President Obama would protest and say anything about it, the same posters would be on here, whining because he "wants too much control." What kind of cheese do you want with your whine, right fighters?
Lynn,
You are right on! We whine because we are not socialists and communists like yourself.
I would say WoWWwww! ! ! , where did obombo find his cahones?????
I sure hope he can hang on to them.
But it won`t happen because he has none.
Paul, Don't give in to government. It is still the people of this country that rule, It's high time everyone stepped up to prove it.
Lynn" President Obama won't say anything about it, why, because the money AIG got from the gov is going to come right back around and pad his wallet too.
Capitalism works just fine, it's the snakes in the grass that have to be dealt with. Too few have been given the power to use greed as a tool. Those few were given the govs permission either by turning a blind eye, or holding an open palm out.
you are a radical socialist like the other leftists.
I supported the President when he spoke out before against the outrageous bonuses paid by these shameless suits.I haven't had much to support him on lately with his "carbon credit swap" bile and other disasterous policy decisions.When he makes a good move I'll give him credit,he just hasn't made any I can think of (especially lately).
Fred G, just wait, chickens are coming home to roost. When your brother soldiers come home, and witness the looting of their country, and can't find jobs, Hell's Angels will be the biggest gang in the world. Happened before, in the 1970's. It won't be pretty.
That's EXACTLY the attitude the gov't is hoping the citizens will feel. That they just give up the fight and accept what the gov't, the FBI, the Secret Service, the ATF, and ALL the troopers and regular police tell us WILL be.
They are KILLING themselves to take away YOUR constitutional right to defend and stand up for ourselves. AND if you all think it is bad NOW, just KEEP empowering ALL the crooks and theives who live by a DOUBLE STANDARD that just WORKS to SUPPORT their ILLEGAL and CRIMINAL acts BEHIND your backs and out of the MEDIA spotlight at YOUR expense.
When are ALL the posters here going to say ENOUGH is ENOUGH and take BACK our country and LIVE our LIVES as the FOUNDERS intended for us ALL to live?? Basically as a FREE people.
Nuff said........
Lynn 410457
I saw you received 11 plus votes at the origin of this reply--What a bunch of dummies--The capitalist way is to let AIG fail--no bonuses --no pay--good lesson--If they were to big to fail government should have not allowed the monopoly to exist---simple concepts
What a Joke, If you read my replies, I am not for the bonuses, but know that our govt is now in a catch 22. If they fail, people will complain that there are more unemployed, and if they give the bonuses there will be people howling, because they were given. I don't want govt in my life anymore than you do, so how can we avoid that. We avoid it by the capitalists doing the right thing. Self discipline and then the govt doesn't have to get involved.
Is everybody doing their JOB at AIG yet? Hmmm... Are they out of the woods yet? Hmmm... These bonuses are not as bad but I don't see the company doing wonderful things. So why should they get anything? Isn't a bounus a reward for doing a good JOB? Hmmm...
No, it is an entitlement that's part of the corporate welfare wrecking America.
Fred, I never thought of it that way. You are so right. So lets see, we are paying for their entitlement. That makes me feel even more... (I'll let you finish my thought) I am reminded of reality TV and how everyone walks around feeling entitled. Shoot! I would like to be entitled to a great job, health insurance, a good mortgage on my house. They really need to give us our money back or put it to something good.
u are so right,we have worked so hard all this time that made america so great,that when thihgs started gettig bad,aig cried and we gave them our dollars,and now they want to walk away with bonuses.why we dont go to work for a whole month (vacation),and see if treasury is going to handle it.no more bail out or hand out to any corp who walks away with a taxpayers bailout money as bonus.stop the flow of excess (bonus) money for a short time.its worth the sacrifice.
Are these guys hungry? Are they in danger of sleeping on the streets? If they answer no to either of these questions, then no bonus and maybe let some people sleep in their spare rooms, pitch tents in their yards, use their showers and eat at their tables. Then compensate them for that at a reasoable rate.
What happened to the rule of law in this country? These bonuses are based on contracts the company made with its employees. The employees have upheld their end of the bargain, so should AIG, and the government should have nothing to say about it. The article clearly states that they don't need the permission to pay these bonuses. If people don't start standing up to this run away freight train called the Obama administration and the US Congress, then it won't be too long before some other "czar" decides what it is we all can make and which contracts should be honored. Believe it or not, the bailouts were beyond the purview of government.
Back up the bus Go USA - I had a contact agreement when I hired into the company I now work for, and that didn't stop them from cutting my salary and eliminating benefits that were laid out at my hire!!!!!! When a business is going down the tubes, you either take the cuts, or get the heck out! If yours is the "legal" case, then most of us lowly working types have a sound basis for law suits that would bankrupt every company in the US - and keep the lawyers busy for years!
I don't care if they have a contract with AIG. They don't have a contract with the American taxpayers and we don't owe them a dime. Not one penny of bailout money should go to these bonuses. If AIG owes them money let them sue AIG. Enjoy your ramen noodles while these execs eat their caviar, everyone.
And the fat cats keep on keepin on. I need and operation and I've lost my job, how bout giving me a bail out. SOB's I never got a huge raise for doing a terrible job. How come this guys do?
I have a retirement account with AIG Sun America that has now lost 10,000. I will be sending letters to the CEO, my senators and reps. tommorrow. This is totally sick on AIG's part.
Tar, feathers, a fence rail--should we do the politicians first or the AIG executives?
Obama '08
Militia '09
Why can't we do both??
Freedom '10
Dr. Dave:
Great, we could have two teams and see who finishes first!
Yeah! Then we would give the winner a big bonus!lol
So, do you think you're paying too much for insurance????
Send AIG into Chapter 11 and terminate all employment contracts. Sell the profitable units, and let the buyer determine who should stay, and who should leave. If there are employees truly worthy of their salaries and bonuses, they'll be properly compensated. As for the unprofitable units, liquidate all of the assets and fire all the employees. This is what the government did with GM/Chrysler, and what the government should have done with AIG.
Last Ionoclast, How many of you got on here and still do, complaining that President Obama, was going to let GM go under, then when the administration came up with a plan to rescue them, they whined about that. He cannot satisfy or make any of you happy. You nit pick and none of us listen or care about what you say or don't say anymore, as it makes no difference.
Lynn,
Obama saved GM for votes when Bankruptcy on their own would have done the same thing. I just traded in my 3rd GMC Yukon for a Ford. Never will I buy Govt Motors again.
Lynn, You are mistaking me for a straw man, because I have been railing against any government intervention in the auto sector since a year ago, and predicted then, that those companies would eventually have to go through Chapter 11. Go read my other posts on the subject before you start attacking my position.
I'd give a bonus to someone who could bilk the government out of billions with more to come and convince them the whole world would collapse if it didn't happen. Wouldn't you?
They are too big to fall and too big to obey any rules and too big to have any morals.
Hopefully in the end, They'll be too big to dodge the bullet that comes their way.
Those that live by screwing others, die by getting screwed themselves.
Dr Dave: We can only hope
Enough is Enough
NO MORE MEANS NO MORE!!!
This company is never going to repay what it was handed to start off with.
They had NO intention of paying anything back at all.
And in other news, WHY IS THE SOCIAL SECURITY ESTABLISHMENT HAVING A WORKSHOP IN A 5 STAR RESORT IN ARIZONA?? At the taxpayer expense???
ONE MORE TIME NO MORE, MEANS NO MORE
I hope everyone understood that
I believe Phill Gramm should pay these whiny (BONUS) salaries since good Ol boy Phill Claimed "Americans a Nation of Whiners" Eat them words Choir boy Phill since we bail out all your constituents and most likely pay your Fricken Retirement of Lies and Deception. LOSER!
Feel that liquid hitting your head?
AIG says it's rain--why is it yellow?
Let's be rational, AIG has the numbers shown below. Now keep in mind, Microsoft has much better numbers, but they keep getting beat up by the press. The rule for you as a worker is that you work for the government and those it chooses to support. Microsoft for example is not one of those companies, even though it is successful, Google and Apple likely will join it in the near future as the government doesn't support that kind of success. AIG on the other hand is extremely unsuccessful, that means you should support it. You must learn this as a worker: Support civll servants, that is your job, support their friends, that is your job, and remember it is for the children. You have no choice, if you don't agree, you go to jail for failure to pay income taxes, you are not free.
Here are the numbers for AIG, we need to support these losers, it is for the children, politicians and corporate fat cats. Get used to it, you don't have a choice, it is illegal to fail to pay your taxes, it's the law.
Sales*: 17.53 Bil
Income*: -97.25 Bil
Sales Growth*: -89.90%
Income Growth*: +31.30%
Net Profit Margin: -557.83%
Debt/Equity Ratio: 4.09
If they're net profit is -557% can we give them a -557% bonus?
Scumbags. Death would be too generous a fate for these maggots.
However Maggots would be a fitting death
Maggots only eat rotten flesh. You are skipping a step.
I would think by their actions that they were rotten right now.
AIG executives are still breathing my oxygen. I don't want to share anymore.
It is frustrating to see this again. If this is just part of there contractual salaries then why call it a bonus. I think that is what bugs people the most, because a bonus is perceived as a financial gain by someones merit. The company asked for 180 billion in help. Does that mean the people who did the least amount of damage got the most in bonuses? I guess don't tell the general public that these are bonuses and we could swallow it a little easier.
It's time to grow up and accept that the executive compensation structure in that industry tends to be very bonus-dependent and the folks who have inhereted the thankless task of navigating the responsible, profitable entities within AIG back to solvency had nothing to do with the mismanagement that caused its collapse. And as was demonstrated earlier, the most talented individuals who are most able to give TARP recipients and other distressed enterprises the best chance to succeed indeed began to hemmorhage toward businesses and firms who were able to pay them competitive compensation.
It's very easy to point a finger or claim "why not me too" until one takes into account the practical realities that these individuals have the ability and responsibility for far greater amounts of revenue for their respective companies than the amount of their bonuses; and now that the majority of those who were responsible for the most egregious conduct have been long-since identified and removed from their positions of responsibility, now is most certainly not the time to skimp their way back to viability. The worst of all outcomes would be to deny any justly-earned bonus only to realize the precise kind of result that what was paid for.
What surprises me most is that the people who tend to be screaming "hang 'em" seem to believe that their responsibility ends before they've even tried to begin understanding the present realities.
Let them have their bonuses in company stock then. When the taxpayers get their money back then they can cash in that stock. If they are as good as you say they are then THEY will have a financial windfall. If they don't perform, they they can use the AIG stock to wipe their butts.
Except they didn't agree to do their jobs for this portion of their compension to be paid in AIG stock.
Your kind of "screw 'em all" attitude isn't just woefully lacking in the facts about where the problems began and who the people are that are remaining, but it would ensure the quickest possible failure for the remaining viable businesses within AIG. By your reasoning, anyone is welcome to work for AIG and try to salvage whatever remains, but only if they're willing to do it for much less than they could make elsewhere and without receiving any bonuses for meeting any objective they've agreed.
People who think that way should be required to choose their heart surgeon by the same criteria.
Remford, I chose to be a real estate broker in both CA and HI. I work extremely hard, carry extrememly expensive liabilities (listings) and as of today have not received $1 in commissions for my hard work trying to sell my client's homes this year. My cost to market these homes has at times exceeded $10,000 a month. AIG employees should be thankful this government bailed them out. They still have a job and they can pay their bills. Just think about the many industries that have been hurt by the greed of these large corporations. Obama got the executives at AIG to return some of the last bonuses paid out, and now why would the COE of AIG even suggest that a new round of bonuses would be acceptable to the American people who have bailed them out.
Here is my position...no bonuses, if the employees don't like it, show them the door. There are so many very experienced people looking for jobs right now that would welcome a job, to pay their bills, support their families and pay their taxes....people who are not looking for huge contracts, who just want to work. This crap about bonuses to maintain experienced employees is just another excuse which should be completely unacceptable.
The best way to save AIG...cancel all employment agreements and fire all the employees. Rehire the employees who want to stay employeed under new terms. If the rest of this Country has to make sacrifices in the way they live without a contract to protect them, then the employees of AIG should make the same sacrifice and not hide behind a "bonus" clause in their employment contract.
AIG President...keep claiming these contracts were in place prior to you coming on board. Be a man and do your job. Cancel all employment contracts and give them the choice to stay or leave. Period.
I don't have a choice. I must pay my taxes to keep bailing out large corporations.
Very well said Linda! I know we have just as many or more well qualified, unemployed American's (who live in the real world) that would cherish these position's and do a much better job!Oh Yeah, a question to Remford, we were all just wondering which department of AIG do you work for?
Come on Remford, answer Clyde's question. Which department at AIG do you work for?
Cry all you want remford....no bonus for you. Your company had to beg for 180+bil from the taxpayer to stay in business. Whether your department made money or not does not matter. The company as a whole screwed the pooch and the taxpayer should have first rights to any profits until the taxpayers are out of the AIG business.
No go back to downloading porn on the taxpayer provided computer you are using.
remford -
those who were responsible for the most egregious conduct have been long-since identified and removed from their positions of responsibility
How do you know this happened?
The reality is the American taxpayers don't owe them a dime. No bailout money should be used for this. Let them sue AIG. Why should they live large on the dime of people who can barely pay their rent? Because it's in their contract? I don't remember signing any contract that said I would pay huge bonuses to AIG execs with my tax money while I struggle to pay rent.
remford
One glaring fact still remains......were it not for the previous billions of dollars given to AIG - AIG WOULD NO LONGER EXIST!! What ever "actions" they performed in the past are of a ZERO value today and obviously not intelligent enough to keep their company in business.
Every last AIG employee should get down on their knees and give thanks for the fact that they still have a job - while millions of other folks lost theirs, directly and indirectly, due to the actions of AIG!
If everyone would drop them as an insurance carrier and go with someone else this would stop, pretty doggone quick. I'll never use the farking bastages, that's for sure!
I agree. Boycott AIG and any other company that took bailout money. Send those greedy pigs a message.
Hey plebs I got a nasty burger at Burger King in Chicago last week. So you, employees of Burger King should be shot.
With an attitude like yours, they probably put a big booger in it, Just for YOU.
Logan you may have a fancy degree but you have no class. Is that something that your parents did not teach you or something that you lack because you want to give Yale a bad name?
Didn't Bush get his degree at Yale? Maybe Logan is Bushy's alias.
im thinking why dont we just outsource the vps at aig or any company recieving tax payer dollars for that matter??? they can be greedy in brazil and vietnam too but greed over there is a bonus of only $25 a year (if that).
they make powerpoint presentations overseas too. sounds like a no brainer to me
Why not? Because you've just entrusted a $180B investment to the lowest bidder to avoid paying a handful of employes who weren't affiliated with the divisions of AIG that nearly caused its collapes the bonuses they've earned.
You're right. It's a "no brainer" in the most literal sense.
remford:
"...180B investment..."?
I don't consider flushing 180B down the crapper an investment.
You didn't flush $180B down the crapper; but you seem to agree with jay above who recommends the company that the best stewardship of a company that just received $180B in taxpayer funds is to entrust it to off-shore pinch hitters.
Whether you think there's anything worth saving is irrelevant, AIG has already received the $180B. If you've already written it off, so be it. Then whatever AIG happens to do with its bonuses or any other part of its business should make no difference to you. Personally, I want AIG to be able to repay as much of the $180B as possible, and that includes hiring and retaining the best resources possible which requires compensating them accordingly. The government may never receive the entire $180B, but AIG repaying $90B is better than it repaying $80B, and $20B better than $10B.
That's the problem with those who feel the sum-total of their responsibility is to blather on about all the nasty things that should be done to anyone who has ever worked for AIG, whether they've had anything to do with its collapse or not. You/they never get to the "then what" which in your world means further jeopardizing any remaining value AIG might have over $2.4M; and the problem is that enough of the spineless elected representatives who wouldn't know leadership if it bit them on their backsides get the idea that the easiest way to look "butch" is to join the chorus. And before you try to scream "bull@!$%#", I only have to point you to Christopher Dodd and Barney Frank as proven examples.
If you want to be mad, go ahead. Be mad. Just stay out of the way of those who are trying to preserve whatever value may be left of the $180B the government invested (like it or not) into AIG. Because Lord knows, if there happens to be anything left at all, you're sure to be among the first in line to claim your share.
If I loan someone a large sum of money, I am going to be watching what they do. Unless they are family, I'm gonna be a little more than ticked off if I see them wasting it on $250 shoes. You don't LOAN money to family, you GIVE it - no expectations.
AIG likes to say "retention" bonuses. Any idea what those people make withOUT bonuses? I'm betting it's a BIT more than me or you. Are those people really gonna QUIT that job without a bonus? In THIS economy? I didn't quit mine when WE didn't get raises and bonuses this year. Together maybe $1000 if lucky.
Just curious - what DO they make, straight salary??
Same here Randal. If it wasn't for the bail out, they would all be getting unemployment right now.
remford -
In hindsight, AIG should not have received any stimulus money in the first place. Their multi-million dollar "outings", "elaborate corporate functions", "parties" and "weekend get aways" for their employees was not what OUR billions of dollars was intended to fund. But, they were so brazen and ignorant as to flaunt yet another hugely expensive weekend get away within days of the last stimulus pkg. they received!!
Let AIG go bankrupt - exactly like they have caused other companies to do. With all the highly qualified recently unemployed - world wide - other existing companies can hire them and expand their business. New companies can be started to replace this one huge CASH HOG! I would imagine that those who will find it hardest to find a job in AIG's line of business are the very same that are expecting more BONUS money now - paid for out of the pockets of all US citizens, those that are still employeed and those standing on the unemployment line!!
AIG isn't the ONLY business of it's type and it obviously doesn't have the most qualified employees - other companies have managed to stay in business without a single cent of stimulus, ie. tax payers hand outs!!
I'm sure a lot of politicians are getting kickbacks, payouts, and bribes from all the bail out money AIG received. Thats why they don't care about all the bonuses and lavish spending.
Let's see. These very same top executives by their stupid if not illegal decisions ran their company so far into the ground that the taxpayers during the worse economic slump in 70 years had to bail them out. They continued to pay their lavish bonuses and live as well as before, while many taxpayers lost jobs in the fallout. Not surprisingly there was a huge outcry.
So these same idiots now decide they'll "ask" for their bonuses and then it will be all right? And they call them retention bonuses? I don't want them retained. I want them fired. I actually want them jailed but prior to melting down the economy they changed the laws so that their crookedness and greed was seemingly legal.
Timothy Geithner, get some gumption. JUST SAY NO. These tone deaf idiots don't deserve their salary, let alone bonuses. What I don't get is how can they not understand they need to shut up and be grateful for their job? Is it possible they are really this out of touch and stupid? And why do we want them anywhere near our financial system?
This system has to be overhauled. These are not the best and brightest, these guys are Keystone Kops. But at least watching them you got to laugh. Bring back the guillotine. Until now I couldn't understand how the French citizens could cheer - now I do. The executives at AIG deserve nothing. And to ask for more? I'm beginning to think we should let the company collapse - too big to fail sounds like just another of their lies. Put us out of its misery.
And what do you bet........................Obama will say "We have to honor their contracts. Give them their bonuses." No honor among thieves.
No, these are not the "very same top executives by their stupid of not illegal decisions ran their company so far into the ground....".
This really begs the question whether or not anyone who can't be bothered enough to first understand the specifics before developing such an extreme position should be entitled to the opinions they leap to.
You're defending them? No accounting for taste, is there?