Well they are a government entity now, like congress they get automatic rasies every year, performance does not factor into reviews.

And under Greenberg, the gentleman that founded and ran AIG until a few years ago, it was ALWAYS profitable.

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KLK, MCSE

1990 500SL

I was always taught to respect my elders.
I don't have to respect too many people anymore.

Huh, note to self, never post BEFORE drinking that second cup of coffee!

Let's add insult to injury.

The bonus's are not to be paid to just any executives, but the executives that ran the group that almost brought down AIG and the economy.

Although someone said they need these people to unwind they mess, kind of like hiring the bombmaker to disarm it ??????

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KLK, MCSE

1990 500SL

I was always taught to respect my elders.
I don't have to respect too many people anymore.

This group has been successful till the last year. OTOH, Congress has not had such a stellar record, have they?

Who better?

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Strange definition of success.

How 'bout no one gets a bonus until there is profit from which to give bonuses out of?

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1984 300TD

Until last year, they made profit, right? How many years have we had a national debt? Note, before you tell me that the Clinton years had a surplus, lets also remember that if I did the same sort of "Arthur Anderson" accounting as the govt and shuffled money around, ran Ponzi schemes, I'd be in jail longer than Madoff. Congress MAY have balanced the budget but I will bet that they don't use standard accounting practices that you or I have to use They use cash accounting for one, I have to use accrual accounting. They have pools of cash to swish around to balance a budget, you and I will not. The list can go on.

Fair enough if you are talking of a new exec that signs on tomorrow. However, contracts that were signed 2 years ago still have to be honored. You cannot nullify a contract because your situation changes. If I signed a contract with you to buy your car in 6 months at $X and when the time comes, I tell you that I have this problem and that so how about I pay you less. Think you will still go for it?

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They made profit? Maybe paper profit. They did it by murdering the company. If I worked for you and sold your client list to your competitors, did I make you profit?

If I worked for you for a year and the company lost money, are you giving me a raise?

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1984 300TD

Lets turn this around. If you worked for me and the company lost money BUT in our contract, you are supposed to give me a raise, what do you do? What did congress do?

Edit: :Lets look a situation we have here. My wife works for a hospital and unfortunately, it is a union shop so in essence, she is working for the union. The hospital thought that it would be getting a couple of important contracts but that didn't pan out. In the meantime, the union has negotiated a raise. In fact, the hospital is not doing well. Now, YOU go tell SEIU 1199 that instead of the raise they are getting AS PER THE CONTRACT, times are tough and they have to take a pay cut. See how far you get. I'm sure if you can pull it off without involving a suit, the CEO will be real happy at you.

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Not a tough one if you ask me- pay them with AIG money. Oh- AIG has no money.... that's right. So they get no bonus as per contract as the company has no money. It's a defacto bankruptcy- treat it as such.

Couldn't they just be canned for substandard performance?

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Sent from an agnostic abacus

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Congress? We wish!

If there was any kind of "escape clause" in these contracts, I am sure the government would do what ever it could to find them, as the public anger over this is not exactly something they wanted. The bonuses are obligated by contract, and simply refusing to pay them would result in lawsuits that the government would never win and it would end up costing even more money.

The option of letting AIG fail was open to two administrations, Republican and Democrat, apparently, they are all dumb idiots, and the true geniuses are to be found at some Mercedes car forum, no wonder the country is in such a mess - if only they had known of this place.

As matter of fact, they were.

I don't think any of them are dumb. They do what they do best. Look out for their own hind end.

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How so? There are how many new faces and how many incumbents?

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