DISQUS

AMERICAblog: AIG scraps "bonus" plan and replaces it with "retention" plan

  • Cojonudo · 12 months ago
    We should institute the Chinese form of punishment for disgraced executives. A quick conviction and death by firing squad within days. These guys should be in jail! Holly cow!
  • tlsintx · 12 months ago
    let the entire insurance industry crash and burn...
    just think of a world without insurance.. everything would be so much less expensive.

    ps. i used to work for an insurer. believe me. it's a crock.
  • Naked Bunny with a Whip · 12 months ago
    Sure, you can get the same effect yourself by saving up tens or hundreds of thousands of dollars to cover your unexpected costs. Good luck with that.
  • tlsintx · 11 months ago
    thanks. good luck with your next claim.
  • MaudGonne · 12 months ago
    Bonus and retention sound like musical chairs or laxatives. How about some real creativity....

    http://www.independent.co.uk/news/uk/politics/h...
    Hit the banks where it hurts
    Brown imposes huge fines on lenders who overcharge their customers
    By Andrew Grice, Political Editor
    Wednesday, 3 December 2008

    Banks will face huge fines if they do not treat their customers fairly, under a crackdown to be announced by the Government today. Ministers have decided to turn the voluntary code of practice operated by the banks into a legally-binding one, amid mounting concern that they are flouting their own rules during the credit crunch. The move follows claims that small businesses and individual customers have had the terms and conditions of their loans and overdrafts changed overnight by their banks.
  • Ben Dover · 12 months ago
    Well we can't have these poor, poor managers and the like in the croissant line this close to xmas!

    That. Would. Be. Simply. Heartbreaking.

    January 20th cannot come fast enough.
  • Naked Bunny with a Whip · 12 months ago
    Isn't your regular salary supposed to be your "retention payment"?
  • Anthony Look · 12 months ago
    Damn it! What the hell is going on that companies can just do what the hell they want with our future tax money. This isn't a wealthy bread line so that they may continue their lifestyle at our expense. What makes congress so powerless to prevent these obvious abuses. This is above and beyond "let them eat cake" mentality.
    Congress is oddly uncaring to the plight many are experiencing.
  • TheOriginalLiz · 12 months ago
    You didn't think they would really give up the sweet deal they had going, did you?
  • MaudGonne · 12 months ago
    On marketplace today, it was alleged that if we didn't keep the car companies solvent, it would be a big blow to our national security--we would have to outsource weapons and tanks in the next land war.
    Where were these people when steel was outsourced??
    Are we going to be building plastic tanks?
    And isn't the next war going to be germ warfare??
    Aren't our syringes already outsourced?
    We went thru that hail-to-globalization thing pretty quickly....
  • Gary II · 11 months ago
    Personally, I don't care how AIG spins and renames their BONUS, DEFERRED COMPENSATION, RETENTION PAY after a quarterly loss of $25 BILLION and then a restructured US government BAILOUT of $152.5 BILLION it is plainly WRONG every way you look at it. I suggest that to save AIG the company must slash spending to the absolute minimum necessary to conduct business. Pay to keep the doors open, lights on and employees employed. Involve the employees in rebuilding AIG. If some employees leave, good riddance. Hire new people who want to make AIG into a new and better company. This is a history making opportunity to DO THE RIGHT THING.
  • dula · 11 months ago
    Does anybody frequent Right Wing blogs? Are they starting to make the connection between what has happened to the world economy and their Neocon world view of deregulation/corporate rule? Considering they loved calling Obama a Socialist, I doubt they have a clue what happened. Sadly, until they get the point, Neocons will always have a base from which they can harm this Nation.
  • Perry · 11 months ago
    F*ck AIG! I've had my auto and condo insurance with these guys for years, have never made a claim, and have a pristine driving record. When my auto insurance renewed earlier this year in May, my premium went up by almost $100/six months. When it renewed at the end of last month it was increased another $125.00. I've switched my insurance to another carrier, and am preparing my letter cancelling my coverage, congratulating them for their superb handing of their company, and to share my utter disgust at their attempt to make ME pay for THEIR ineptitude. Good riddance! Oh, and by the way...no more taxpayer dollars for these mediocrities!!!
  • John M · 8 months ago
    Press Release for release by AIG on Monday morning:

    Thank you, America, for your generous donation to our non-profit organization. We do not know what we would do without you.

    As you fill out your income tax forms, please think of us, and all the good your taxes do for us.

    See you next month when we're back for another generous donation.

    Love and appreciation,
    Your friends at AIG