So...AIG employees get 'retention pay' while auto plants close down for a month

1gobluedem

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Thu Dec-18-08 09:25 AM
Original message

So...AIG employees get 'retention pay' while auto plants close down for a month

Isn't that just dandy. Auto plants are shutting because dealers can't get financing due to the credit crunch but AIG employees, who are now for all intents and purposes on the public dole, get 'retention pay' ranging from $160,000 to $4 million. It's not bonuses, though, because, while they had their hands stretched out for public money that was willingly and easily given, they promised they wouldn't give bonuses.

Meanwhile, autoworkers have their year-end layoffs extended.

How disgusting.

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DainBramaged

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Thu Dec-18-08 09:29 AM
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1. And on DU you hear.........

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GreenPartyVoter

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Thu Dec-18-08 09:30 AM
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2. Sickening!

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DoctorMyEyes

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Thu Dec-18-08 09:40 AM
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3. Where were they going?

That they needed to be bribed to stay with "retention" pay? Yeah, cause I'm sure the banks are all knocking at each others doors looking for "talented" losers. :eyes: Oughta be thankful they still have a job at all.

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ProfessorGAC

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Thu Dec-18-08 11:03 AM
Response to Reply #3

10. Yes. MY Question Is "What Talent"?

They fiddled while Rome burned, or were culpable in the disaster. Exactly what talent are they paying to retain? There is no discernible evidence of the sort of talent they really need.
GAC

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PVnRT

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Thu Dec-18-08 09:51 AM
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4. There are plenty of financial people out there looking for work

If I were running AIG, I'd be cutting pay and telling people I can five to replace them if they're pissed about it.

The only thing that made me support the bailout before was the promise of oversight. That was a complete lie.

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madokie

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Thu Dec-18-08 09:56 AM
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5. What pisses me off is how much that retention pay is

fuck this gotta have a rich class of people, I say we level this playing field a bunch. We are going have to make our congress critters start working for us one of the days if we ever expect to get out of this mess. Remember during hard times when many are going without there is some who are making way more that they need or should. I'd go after those assholes first thing if'n it was left up to me.

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WeDidIt

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Thu Dec-18-08 09:57 AM
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6. It's a double standard

If you put on a white shirt before you go to work, you get a bailout.

If you wear a blue shirt to work, tough shit.

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MikeNearMcChord

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Thu Dec-18-08 10:03 AM
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7. Before long the guns are going to get oiled. The torches are being soaked.

It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us,-Charles Dickens, A Tale Of Two Cities.

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navarth

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Thu Dec-18-08 10:16 AM
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8. yeah, and the whole thing is covered up by Blago Gate.

goddam it.

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blue_onyx

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Thu Dec-18-08 10:59 AM
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9. This is horrible

Why haven't the Democrats done anything? We've known this was happening for weeks. I'm sick of the Dems (Reid and Pelosi particularly) acting like they have no power. "Oh, well....what could we do." The auto companies are left in the cold while the financial institutions are celebrating their millions of dollars in "retention pay"....pathetic.

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sarcasmo

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Thu Dec-18-08 11:16 AM
Response to Original message

11. Make no mistake, it was all about crushing the UAW and they are almost crushed.

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