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Discussion Starter #1
http://news.yahoo.com/s/ap/20090315/ap_on_...YHwwUPfSFMDW7oF

I can't decided if I want to work for them or beat them with a big stick!

165 million in bonus payments.

Man I hate greed. They lost 61 Billion last quarter and their execs get paid for failure. And they get to pay the bonuses with our tax money!

They are worried about lawsuits if they don't pay up? Well the little man gets screwed all the time. If it was joe blow blue collar worker he would probably not get a bonus and would get a pink slip! If they did go to court a judge would throw out the contracts for hardship reasons saving the company.

They should specify no more money from us until you get real!!
 

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The real kick in the balls?

I've been in management for companies for a long time and employee's merit increases and bonus's are always tied to the bottom line. If the company is having a great year raises of 5% for the very best performers are not uncommon and the average raise is usually around 3%. On a less than stellar year when the company is profitable but not as profitable as they wanted to be the best raises are 3%... In a year when the company is making money but not nearly enough compared to the projections? Zero raise Zero bonus.

There are two different worlds in this country. The royalty and everyone else.
 

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At least some of them were decent and decided not to take the bonuses (But they probably make obscene pay anyway)

They say they need these bonuses to attract and retain the best and brightest people? Wow did they make mistakes. Maybe they should fire all of them and start over!
 

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Our tax dollars at work!! :blink: :rolleyes2:
 

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Atleast we don't have to see those stupid commercials with the guy with the white hair anymore...
 

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This is the stupidest thing that AIG can do right now. If they wouldn't have received the bail out money, they would have not received any bonuses. And now that they have the bailout money, they are abusing the hell out of it. I say, screw AIG and let capitalism reign again!
 

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These were under contract, I am sure.

Unfortunately, AIG is not in a position to break a contract simply because of the fees associated.

I have not read in-depth what these bonuses were for, but I am pretty sure it was more than just "company performance"
 

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At this point billions of our tax dollars are tied up in this company. If the AIG fails, all that money is just wasted and thrown away.

AIG needs to retain its best employees to work on returning to viability and not wasting all of our tax money. These bonuses are a critical part of that.

Additionally, our government will actually make money on its stake in the company if/when it returns to profitability.

Guffawing at these bonuses is not a rational course of action. Besides, $165 million is a drop in the bucket in the grand scheme of things. They have many thousands of employees - it's not like a handful of people are dividing that large chunk of bonus money.

It is in our best interest as taxpayers that AIG is successful.

Whether they should have received government funding to begin with is a separate issue. But we're in the situation we're in so we need to just make the best of the hand we have to play.

AIG will be an even bigger mess and failure will be even more likely if they don't retain key employees.
 

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QUOTE (BetterDays @ Mar 16 2009, 12:12 PM) index.php?act=findpost&pid=709225
These were under contract, I am sure.

Unfortunately, AIG is not in a position to break a contract simply because of the fees associated.

I have not read in-depth what these bonuses were for, but I am pretty sure it was more than just "company performance"[/b]
There generally aren't contractual obligations for bonuses in white-collar, non-union companies such as this. I doubt there was a contract for the bonuses.

The fact that they were waffling on whether to give them or not is another indicator supporting this. No obligation was ever mentioned.
 

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QUOTE (Mai-Sable @ Mar 16 2009, 11:59 AM) index.php?act=findpost&pid=709213
This is the stupidest thing that AIG can do right now. If they wouldn't have received the bail out money, they would have not received any bonuses. And now that they have the bailout money, they are abusing the hell out of it. I say, screw AIG and let capitalism reign again![/b]
It's not a "bailout". It is a government stake in the company, there is a big difference.

There is an expectation of return on the investment the goverment put into the company. This was not free money to them.
 

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QUOTE (austex04 @ Mar 16 2009, 06:35 AM) index.php?act=findpost&pid=709113
Our tax dollers in use! :angry: They should have let them go under[/b]
I agree, but what's done is done and now we need to get a return on our tax dollars that have gone into this company. They need to retain their key employees for that to happen.
 

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QUOTE (2000Sable @ Mar 15 2009, 09:06 AM) index.php?act=findpost&pid=708713
The real kick in the balls?

I've been in management for companies for a long time and employee's merit increases and bonus's are always tied to the bottom line. If the company is having a great year raises of 5% for the very best performers are not uncommon and the average raise is usually around 3%. On a less than stellar year when the company is profitable but not as profitable as they wanted to be the best raises are 3%... In a year when the company is making money but not nearly enough compared to the projections? Zero raise Zero bonus.

There are two different worlds in this country. The royalty and everyone else.[/b]
The difference in this case is that the company is viewed as failing. This makes employees want to leave. When the company's survival depends on the retention of key employees, they must do something to convince them to stay.

I would not stay with a company I thought was failing, but if offered a sizable bonus to "stick it out" I probably would take it.

This is not a traditional economy and as such things are not handled in the traditional fashion you describe above.

There's a difference between a company that didn't have a good year vs. one that is on the brink of collapse. Goverment intervention that has taken place in this situation puts another spin on things as well.
 
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