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SHOCK: AIG Employees Agree To Bonus Cuts

First Posted: 03/31/10 06:12 AM ET Updated: 05/25/11 04:20 PM ET

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Aig Bonus Cuts
Most AIG Employees Agree To Bonus Cuts

wsj.com:

Most employees currently at the financial-products unit of American International Group Inc. have indicated they will accept cuts in a batch of March retention awards if the bonuses are paid out as early as next week, people familiar with the matter said.

Read the whole story: wsj.com

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Most employees currently at the financial-products unit of American International Group Inc. have indicated they will accept cuts in a batch of March retention awards if the bonuses are paid out as ea...
Most employees currently at the financial-products unit of American International Group Inc. have indicated they will accept cuts in a batch of March retention awards if the bonuses are paid out as ea...
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HUFFPOST SUPER USER
edejan
1419 Fans
12:28 PM on 02/03/2010
They were asked if they would ACCEPT a 10% reduction? Boohoo....the American people weren't asked if they would accept being totally ripped off and defrauded by AIG.
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HUFFPOST SUPER USER
Tiggy
303 Fans
 
01:28 AM on 01/30/2010
After a full year has elapsed, I am wondering what is left to unwind in that disastrous department that brought down an entire economy. If we needed to keep those employees because only they knew how to undo the damage, how is it that department is still operational. My next question is why have we not clawed back that 26 million? Garnishment? Liens?
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webgeek
85 Fans
01:17 AM on 01/30/2010
eff them.

How much of a cut?

Really?
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nopilikia
335 Fans
12:09 AM on 01/30/2010
Oh BS. They are just hiding the comp off book like their CDSs.
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HUFFPOST SUPER USER
ssfahrer
25 Fans
09:57 PM on 01/29/2010
The only reason that AIG has to do this is because of the jealous "pay czar", Kenneth Feinberg. We the people must cut ties to this man ASAP....
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HUFFPOST SUPER USER
Mondayboy
Rebel with a cause
573 Fans
12:04 AM on 01/30/2010
tool
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HUFFPOST SUPER USER
davidwayneosedach
202 Fans
 
06:50 PM on 01/29/2010
Don't tell me they're not getting something else in return!
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venusvictrix
33 Fans
07:19 PM on 01/29/2010
Probably just the chance to take the money and run with it before the other shoe drops sometime between Feb. 5 and March 15 when the bonuses were originally scheduled to be paid out.
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HamletsMill
All Myth is Astronomy
3321 Fans
07:30 PM on 01/29/2010
V.V. - I am at work (software engineer). I have to hit the road now. It takes me a good hour to get home. My e-mail address is on my profile. Send me an e-mail this weekend if you can. I have something artistic to discuss.
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norepublicanleftbehind
677 Fans
05:16 PM on 01/29/2010
Were their salaries raised in exchange?
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HUFFPOST SUPER USER
melton244
1531 Fans
 
03:11 PM on 01/29/2010
Since, we the American taxpayers own 80% of AIG, can we fire them ALL?
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JadedAggie
57 Fans
05:05 PM on 01/29/2010
We could, but it would just make matters worse. If you fire them you would need an army of forensic accountants to figure out what in the hell they did.
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venusvictrix
33 Fans
07:16 PM on 01/29/2010
I doubt it would make any difference. How do we know that "unwinding deals" doesn't mean they are busy shredding papers?

We've paid off those CDSs in full. What is there to "unwind"?
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venusvictrix
33 Fans
02:51 PM on 01/29/2010
Let's get something straight:

those "retention bonuses" are HUSH MONEY.

So they agreed to cut their payoffs. Big deal.
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