Lion's Daily Blurb - Wed., Thurs., March 18-19

[Lion]

Failed insurance conglomerate AIG, the one that's been in the news lately, paid out over $165 MILLION in bonuses to it's executives (same ones that helped to run the company into the ground). Yea, so they get rewarded? From what I understand it's part of their contract deal, so it had to be honored I guess. Still makes no sense at all. The CEO of AIG has asked employees who received $100,00 or more in bonuses to give at least half of the money back. Now I know I'm an old country boy from the sticks, but if I do bad, I don't expect to be rewarded for it. HUGE...and I mean HUGE mistakes were made by management at AIG. It was so bad that the US government has given AIG $170 BILLION in taxpayer money to keep them from going bankrupt, and the US government now owns 80% of AIG. The US government can't handle it's own affairs, so I don't know what they think they can do to help AIG survive. Anyhoot, same old, same old. The answer is for the US government to buy it's way out of the economic woes that are increasing daily, spending money we don't even have.

[truefeel]

I would not say your goverment can't handle it. I already heard they are going to withdraw every dollar that was given as a bonus, in the form of taxes or something else. Obama was clearly furious about the bonuses too. Heck, republicans and dems were all over the line in agreement with eachother, something you don't exactly see everyday, about that the money has to be returned.

When I heard this at the news a few hours ago, I already knew it: this is going to be lion's next blurb :p.

[Rouge]

well i herd change was supposed to be coming, well the funny thing is the "contract for bonus retention" or something was all democrat approved....well this is the change people wished for :| let's hope the stimulus package actually starts to help soon...in the mean time....idk what to say.... look at this while i think :color3:

[GoMilton]

I dont see how you can have a bonus written into your contract, especially a retention bonus. A bonus should be...a bonus, perhaps do to achieving unexpected greatness. AIG is anything but unexpected greatness right now.
All bonus' should at least be put on hold. If the company turns around and makes a profit, back pay all the bonuses. That should give a pretty good incentive for the employees to work extra hard.

I feel sorry for the current CEO. What ive seen and read it sounds like he is doing a pretty good job so far trying to turn it around. These bonuses were in place before he was brought in and is probably distracting him from getting anything actually accomplished.

[Lion]

I dont see how you can have a bonus written into your contract, especially a retention bonus. A bonus should be...a bonus, perhaps do to achieving unexpected greatness. AIG is anything but unexpected greatness right now.
All bonus' should at least be put on hold. If the company turns around and makes a profit, back pay all the bonuses. That should give a pretty good incentive for the employees to work extra hard.

I feel sorry for the current CEO. What ive seen and read it sounds like he is doing a pretty good job so far trying to turn it around. These bonuses were in place before he was brought in and is probably distracting him from getting anything actually accomplished.

Yea, the current CEO of AIG seems to be ok. The US government put him in his position to hopefully fix the company.

[Rouge]

the current CEO is getting soo much flak for doing his job and trying to keep the company afloat... he couldn't do anything to stop the bonuses but he's giving his back and so are some other AIG executives but :moonie: there's still some that are white knuckling that bonus check....:ashamed: