AIG Bonuses - Another Outrage

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Replied by Rockin35 on topic Re: AIG Bonuses - Another Outrage

Yes, please give me back my money and stop "stealin'" out of my purse!!! Rockin35
10 years 7 months ago #1

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Replied by Meya on topic Re: AIG Bonuses - Another Outrage

I have to agree with all of you. I just wanted to say, "Give me back my money!" That's what oh boy yelled out:laugh:
10 years 7 months ago #2

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Replied by Rockin35 on topic Re: AIG Bonuses - Another Outrage

Yes,

I agree about management and the contracts that AIG should uphold upon what they promised these managers. But on the flip side, did those managers perform at the level expected to recieve the bonus to begin with?

But heres the bigger question, aside from working those long extra hours and taking work home, out of those 52 Executive Level management staff, over half of them failed to produce the intended and much needed results in their sectors.

So it begs the question, that "Mr. CEO & the Board" should not have to grant bonuses for "poor" quality of work, loss of integrity, and overral bad decision making. I mean thats why AIG paid these individuals so highly and gave them sign on bonues , right? To make better decisons and they failed.

To me.. No Bonus! Rockin35
10 years 7 months ago #3

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  • marylan73
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Replied by marylan73 on topic Re: AIG Bonuses - Another Outrage

smcc,

Yes, I agree with you on that, and it's been the main point made in favor of AIG bonuses. It sends a bad message if an insurance company doesn't honor a contract.

There's also the question of whether Geithner knew about the bonuses all this time (the contract was made last year) and when Obama found out about the bonuses.

Some of the media has suggested that "outrage" was only expressed after the media caught wind of the bonuses and began to publicize them that Washington had to act like they didn't approve.

The part I personally have a problem with is the 11 employees who received retention bonuses that are no longer with the company. I don't know if the contract spells out how long they must remain with the company to receive that bonus, but if they're paid a million bucks or more to stay with the company - I would hope they'd honor their side of the contract and stay. Especially when taxpayer money is keeping the company afloat.

Mary Lan Tomkins
10 years 7 months ago #4

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Replied by smcc on topic Re: AIG Bonuses - Another Outrage

Ok, here is my thing, your in mgmt and your promised "X" number of dollars if you go beyond what is expected of you. Now you work long hours, take work home, work on the weekends to meet this objective and because of issues beyond your control the company might not be able to live up to their end of the contract because of outside pressures, i.e The Feds, consumers, etc..

I understand the pressue AIG is under because of the bailout but a contract is a contract isn't it ? Lets say they do restructure these contracts, how will AIG recruit future talent if it looks like they can't stand behind their word ?
10 years 7 months ago #5

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10 years 7 months ago #6

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