AIG May Double Some Salaries With Retention Payments

By Hugh Son

Dec. 4 (Bloomberg) -- American International Group Inc., whose bonuses and perks drew fire from lawmakers after the insurer accepted a federal bailout, will make special retention payments that more than double the salaries of some senior managers, according to a person familiar with the matter.

Some executives in the group of 130 recipients will get more than $500,000 to stay through 2009, about 200 percent of their salaries, said the person, who declined to be named because the information hasn’t been publicly disclosed. An undetermined number of lower-paid employees will also get cash awards to dissuade them from quitting, the person said.

“It seems like more than what you’d need to pay to get people to stick around,” said David Schmidt, a senior consultant at executive pay firm James F. Reda & Associates. “Nobody’s hiring, so where are you going to go?”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aGf.YgVHEPYQ&refer=home

Like junkies, addicted to the rush of greed.

Except we are not on speaking terms.

He is a Senior VP of something-or-other at AIG.

And a f***ing Republican, to boot.

for the loan you just gave him.

Maybe I will put together a nice little email.

now. He has become more and more of a dick these days anyway. Why wouldn't he vote Rethug?

:P

k&r

The AIG management is simply outrageously bad.

Where are all of you again? You seem to have gotten mighty quiet.

about this. As someone who was always against it, and argueing with people at length who supported it, I would like to hear what they think of their bailout now. Don't seem to hear much from them about it these days huh? :shrug:

Which is a new record around here. The rest have either been very quiet or have occasionally sworn at us. I have no idea if my old friend ever took me off their ignore list for asking them why they were supporting it.

Regardless, this has all gone rather predictably, don't you think? Bushco took all our money again, and we got nothing for it. I wonder how many more times that will happen before Jan 21st.

Brought to you by the same people who brought you The Iraq War!

Brought to you by the same people who brought you The Patriot Act!

Brought to you by the same people who brought you Illegal Wire Tapping!

Brought to you by the same people who brought you Torture!


Seeing a pattern here -- Ramp up THE FEAR until people allow the government to screw them. That's the REAL Bush Doctrine. Also, gotta thank congress! Couldn't have done it without them. Ugh. :puke:


*edited to fix title]

... also brought to you by the same group of folks who gave you a tax code so convoluted that no single person on the planet understands it.

Obfuscation as cover for piracy is the name of the game in Washington, DC.

Besides, they need the money for incidentals when they go to posh resorts (Oh, so sorry, I meant "minimally comfortable lodgings".) for junkets, er, boondoggles, er, I mean strategy sessions. Yeah, that's it. Strategy sessions, that are so sensitive that they can't talk about it in their offices. I mean, really, real executives don't do strategy in their offices, do they?

because, believe me, I am ready to go.

I am sick of this shit and frankly, I would be happy to shut down our govt if this sort of corruption is what they offer in the face of financial disaster for this nation.

I HAVE HAD IT.

fuck them.

I want this to stop NOW.

does someone know of organizations that are working to put pressure on our reps. to stop this shit from going forward?

do we need a general strike for the assholes to get the message?

http://www.FedUpUSA.org