AIG paying out the Big Bonuses!

[ZZman]

http://news.yahoo.com/s/ap/20090315/ap_on_bi_ge/aig_bonuses;_ylt=ApppWZe5zg9ksYHwwUPfSFMDW7oF

I can't decided if I want to work for them or beat them with a big stick!

165 million in bonus payments.

Man I hate greed. They lost 61 Billion last quarter and their execs get paid for failure. And they get to pay the bonuses with our tax money!

They are worried about lawsuits if they don't pay up? Well the little man gets screwed all the time. If it was joe blow blue collar worker he would probably not get a bonus and would get a pink slip! If they did go to court a judge would throw out the contracts for hardship reasons saving the company.

They should specify no more money from us until you get real!!

 

[simple_gifts]

Do you want the someone jump in and cancel your pay package?

 

[ZZman]

If I made what they did I would make more than enough without a bonus. Or I might actually tell them to scale it back due to the economy and image issues. But then again I am not greedy like they are and do not have the mindset they have.

 

[Gary Allan]

Nope, not with millions in the balance. How can I keep up my dues in The League of Distinguished and Deserving Gentlemen

That would be unfair

 

[sciphi]

Forget this. Let's just give the money straight to the Swiss.

 

[dkryan]

What a crock of [censored]!

This is unbelievable, though not surprising.

And the idiots on Capitol Hill and in the White House just stand there shaking their heads and saying, "oh, this is so wrong! And by the way, where should we send your next bailout allotment?"

 

[Pablo]

The biggest crock is this:

Quote:
Liddy said in his letter that "quite frankly, AIG's hands are tied" although he said that in light of the company's current situation he found it "distasteful and difficult" to recommend going forward with the payments.

Liddy said the company had entered into the bonus agreements in early 2008 before AIG got into severe financial straits and was forced to obtain a government bailout last fall.


This terrible company KNEW they were in trouble in 2007. I'm royally prilked off at AIG AND Fidelity for having AIG in SO MANY of their funds. This deadly combination caused my biggest hit toward financial independence for my family. I still have not seen anything on those "ties".

 

[ZZman]

At least some of them were decent and decided not to take the bonuses (But they probably make obscene pay anyway)

They say they need these bonuses to attract and retain the best and brightest people? Wow did they make mistakes. Maybe they should fire all of them and start over!

 

[GROUCHO MARX]

A guy I went to college with is the Treasurer of AIG. He's a nice guy.

 

[Gary Allan]

Quote:
They say they need these bonuses to attract and retain the best and brightest people?


That's the same thing that my school board says. I counter that the incumbents aren't leaving ..and they may not be the brightest.

 

[GROUCHO MARX]

Originally Posted By: Gary Allan
Quote:
They say they need these bonuses to attract and retain the best and brightest people?


That's the same thing that my school board says. I counter that the incumbents aren't leaving ..and they may not be the brightest.


Yes Gary, it's a free country. Everyone is still entitled to pursue better opportunities. I'm sure there are plenty of mid six figure positions waiting to be gobbled up.

 

[oilyriser]

Originally Posted By: simple_gifts
Do you want the someone jump in and cancel your pay package?


In the real world, when your company goes bankrupt, your pay package gets canceled.

 

[Steve S]

They insure the politicians retirements.

 

[Steve S]

Seems most of the best and brightest people really aren't.

 

[Steve S]

Originally Posted By: oilyriser
Originally Posted By: simple_gifts
Do you want the someone jump in and cancel your pay package?


In the real world, when your company goes bankrupt, your pay package gets canceled.
Not if you are the top management or a CEO.

 

[John_K]

They say the bonuses are in their contracts. That might well be, but why would anyone write a contract that would give out bonuses without performance? Isn't that what a bonus is supposed to be for, good performance?

John

 

[MinivanMauler]

Originally Posted By: newpassatt
I guess that's what the American people deserve when they voted in the current President. D


I smell a lock coming.

 

[PandaBear]

Originally Posted By: newpassatt
I guess that's what the American people deserve when they voted in the current President. Do you really believe nobody saw this coming? As far as bonuses are concerned, I think it's very poor business judgment to pay them; a bonus is just that, a reward for a job well done. It has nothing to do with any bailout money given to them by the American people. The government does NOT belong in the private business sector. This bonus payout just points out the fact that this is a poorly run business and should be allowed to fail. Giving them more of my money obviously will not change anything. Keep the gov't out of our lives as much as possible!


Tempest?

 

[TurboLuver]

Quote:
They say they need these bonuses to attract and retain the best and brightest people?


That was the funniest and most disturbing part of the whole article for me.

 

[eljefino]

Originally Posted By: newpassatt
I guess that's what the American people deserve when they voted in the current President.


That bailout happened 9/16/2008.