Another Round of Bonuses for Financially-Troubled AIG?

spazntwitch

spazntwitch

It's like déj- vu again
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March 14, 2009

WASHINGTON — The American International Group, which has received more than $170 billion in taxpayer bailout money from the Treasury and Federal Reserve, plans to pay about $165 million in bonuses by Sunday to executives in the same business unit that brought the company to the brink of collapse last year.

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It's gotten so bad that Barney(practice on Uranus) Frank has taken notice.
article
 
Even though they received bailout money, they had legal contracts to payout that were made prior to all of this.... I have mixed feelings about this....
 
Perhaps someone should investigate whether the terms of those contracts were actually met. I would think that they were based on performance indicators, not merely the ability to breathe.
 
Absolutely make sure those terms, whether they be performance or otherwise were met. :yesnod:
 
Or perhaps, out of a sense of propriety, the executives could refuse the bonuses.
But then, perhaps I'm expecting too much.
 
Would you turn down a million or so if you were entitled to/worked for it?

Not everyone in AIG was a 'bad employee'...some legitimately earned their contract....it's punishing others for the poor management of some. :noidea:

Do you think the janitor at Madoff's business should forfeit his salary? no.
 
DanC said:
It's gotten so bad that Barney(practice on Uranus) Frank has taken notice.
article
Click to expand...

He came out of hiding and was on the news yesterday.


(why can't I chose a different font color today? I can't hide any commentary in white?!?!)
 
If they were legally obligated to pay these, it is no different than if AIG were to file bankruptcy and not pay them anyway. Why can't they renegotiate the bonuses so that once they are no longer beholden to the taxpayers AND THEY ARE OPERATING IN THE BLACK, they will increase the bonus by 50% or some other random number. I wouldn't have a problem with that.
 
Why not 'pay' the bonuses in stock? Then they'd have an incentive to make their company work.
 
spazntwitch said:
If they were legally obligated to pay these, it is no different than if AIG were to file bankruptcy and not pay them anyway. Why can't they renegotiate the bonuses so that once they are no longer beholden to the taxpayers AND THEY ARE OPERATING IN THE BLACK, they will increase the bonus by 50% or some other random number. I wouldn't have a problem with that.
Click to expand...

DanC said:
Why not 'pay' the bonuses in stock? Then they'd have an incentive to make their company work.
Click to expand...

An option to renegotiate or offer an alternative is fine...as long as it remains an option. If they signed a contract and that person held up their end....they are entitled to it. :yesnod:

"If they were to file bankruptcy"....if that's the case...let them fail like they should in a capitalist society. Keep them afloat...then keep your contracts.....

If they are too big of an expense to be maintained as an employee...then get rid of them....just like anyone else...but keep your legal commitments..
 
I like how we are going to tax the bonuses at 98%. So we get them back.
 
i just couldnt believe that 11 of the people who got the bonus are not even working for them anymore
 
spazntwitch said:
And now, folks, AIG is suing the US government saying it paid too much in taxes.

- Link to Article
Click to expand...

Wow! That really takes the cake! :mmph:

The big insurer is trying to recover $306.1 million of taxes, interest and penalties from the Internal Revenue Service. Among other things, AIG is contesting an IRS determination last year that the company improperly claimed $61.9 million of tax credits associated with complex international transactions.

AIG has also asked a court to make the government reimburse it for money spent suing the government.

Given that the government owns 79.9 percent of AIG and has been using taxpayer money to fill a seemingly bottomless hole at the company, the lawsuit might seem like a case of biting the hand that feeds it. But an AIG spokesman said the company has an obligation to press its case.
Click to expand...
 
It was only a matter of time...

I just got this email:



Dear Recipient,

My name is Prince Jumal Lagos. I am writing to inform you of the tragic death of your Uncle and family. Sorry for to be the one advising you of this family tragic event.

You’re uncle was here in Nigeria setting up a corporate office for his company American International Group and while looking for locations died in a tragically unfortunate plane crash.

But before he died, he gave me his bank codes so that my government would not take over his vast recently acquired bonus wealth. I have searched the internet and am glad to be finding you as his relative.

Before my government can take this monies ($6,785,472.00 USD), I need you to end me the following information:

Name:

Address:

Relationship to the deceased:

Socially Security Number:

Birthing Date:

Without this knowledge, my government will soon to be taking your writeful inheritance.

Do not contact my government to tell them of this writing as it will only let them know of his death and moneys.

Your trustful friend and servant in this matter,


Sending your data to: Willday [email protected]
 
diGriz said:
I just got this email:



Dear Recipient,

My name is Prince Jumal Lagos. I am writing to inform you of the tragic death of your Uncle and family. Sorry for to be the one advising you of this family tragic event.

You’re uncle was here in Nigeria setting up a corporate office for his company American International Group and while looking for locations died in a tragically unfortunate plane crash.

But before he died, he gave me his bank codes so that my government would not take over his vast recently acquired bonus wealth. I have searched the internet and am glad to be finding you as his relative.

Before my government can take this monies ($6,785,472.00 USD), I need you to end me the following information:

Name:

Address:

Relationship to the deceased:
Socially Security Number:

Birthing Date:

Without this knowledge, my government will soon to be taking your writeful inheritance.

Do not contact my government to tell them of this writing as it will only let them know of his death and moneys.

Your trustful friend and servant in this matter,


Sending your data to: Willday [email protected]
Click to expand...



LOL So they tell you your "uncle and family" is dead... then ask what your relationship is with them?? Well geez they know more about it then you do so why bother asking??? :rofl:
 
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