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Rich keep getting richer. NO LUBE used on the 700 billion dollar bailout.

repost. Yep, screw the little guy for wanting to keep his $25/hr salary with medical and let these clowns take $100s of billions to buy new jets. Gotta love the priorities in congress.
 
AIG's new CEO is only taking a single dollar for his compensation this year and the top 60 executives won't be getting bonuses.
Click to expand...

Ashooh said the retention program does not include anyone in the firm's financial products business, the tiny arm of the company that torpedoed AIG with its high-risk, bad loans.
Click to expand...

Even though there are more layoffs every month, AIG says its top talent is being recruited to rival companies. In fact, the company says two of its top people just left this week, despite being offered big retention payments. AIG says it needs its best people to keep its healthy businesses profitable until it can sell them and the company plans to sell 65 percent of its businesses to repay its federal loan and get back on track.
Click to expand...

Try to control your hysteria and actually read.
 
These retention bonuses are shocking.

Even if the people who fvcked AIG are not getting the bonuses, why should the government be paying for the others to get them? If I don't get a raise next year because of the economy, should gov give my company cash to give me a retention bonus so that I don't look elsewhere?
 
Originally posted by: Skoorb
These retention bonuses are shocking.

Even if the people who fvcked AIG are not getting the bonuses, why should the government be paying for the others to get them? If I don't get a raise next year because of the economy, should gov give my company cash to give me a retention bonus so that I don't look elsewhere?
Click to expand...

In fact, the company says two of its top people just left this week, despite being offered big retention payments.
Click to expand...

It's the healthy business units that got contagion from the bad unit that are getting retention bonuses. As the article states, there are no bonuses to the people responsible for AIG's demise.
 
Originally posted by: Skoorb
These retention bonuses are shocking.

Even if the people who fvcked AIG are not getting the bonuses, why should the government be paying for the others to get them? If I don't get a raise next year because of the economy, should gov give my company cash to give me a retention bonus so that I don't look elsewhere?
Click to expand...

Think of it.

If the Gov't bailed them out for $100, which was the value of th company at the time. How will the govt realize money if the value of the company, due to the good people leaving, is now only $80?

The idea is to pay the people to stay, since they actually make the company PROFIT, they generate more money, and value, than they consume. THus, since they do generate that value keeping them helps the government realize more money.

Let's say a bigwig who was offered a retention bonus of $300,000, actually brought in $5MM in revenue. By not enticing him to stay there he'll just leave and you've now lost 4,700,000 in profit and real value.
 
Originally posted by: K1052
AIG's new CEO is only taking a single dollar for his compensation this year and the top 60 executives won't be getting bonuses.
Click to expand...

Ashooh said the retention program does not include anyone in the firm's financial products business, the tiny arm of the company that torpedoed AIG with its high-risk, bad loans.
Click to expand...

Even though there are more layoffs every month, AIG says its top talent is being recruited to rival companies. In fact, the company says two of its top people just left this week, despite being offered big retention payments. AIG says it needs its best people to keep its healthy businesses profitable until it can sell them and the company plans to sell 65 percent of its businesses to repay its federal loan and get back on track.
Click to expand...

Try to control your hysteria and actually read.
Click to expand...

AIG would be in no position to offer these "retention" payments if it wasn't for public money.

Maybe things like "Bonuses" or "Retention Payments" are part of the problem, AIG should be able to keep its top talent without having to bribe them to stay...I guess that is what happens when you run a company into the ground. In the meantime, this is public money that is trading hands from you and I, to very affluent and connected people. Yeah I kind of have a problem with that.
 
Originally posted by: Skoorb
Perhaps AIG should insulate its bonus funds so that if one unit screws up the other will not suffer.
Click to expand...

That's what it did. It was already reserved for. It's the sensationalized reporting and idiot ATPNers who can't read that thing this is some kind of travesty.
 
Originally posted by: OrByte
AIG would be in no position to offer these "retention" payments if it wasn't for public money.

Maybe things like "Bonuses" or "Retention Payments" are part of the problem, AIG should be able to keep its top talent without having to bribe them to stay...I guess that is what happens when you run a company into the ground. In the meantime, this is public money that is trading hands from you and I, to very affluent and connected people. Yeah I kind of have a problem with that.
Click to expand...

You do realize we want AIG to pay back the bailout. If you had your way, AIG would now collapse and we get nothing back. :roll:
 
I have no problem with a company paying performance bonuses or retention bonuses...with their own money, but ANY company that's on the "public dole" like AIG is should NOT be paying bonuses of any kind with the taxpayer's money...which is exactly what's going on here.
 
Originally posted by: OrByte
Originally posted by: K1052
AIG's new CEO is only taking a single dollar for his compensation this year and the top 60 executives won't be getting bonuses.
Click to expand...

Ashooh said the retention program does not include anyone in the firm's financial products business, the tiny arm of the company that torpedoed AIG with its high-risk, bad loans.
Click to expand...

Even though there are more layoffs every month, AIG says its top talent is being recruited to rival companies. In fact, the company says two of its top people just left this week, despite being offered big retention payments. AIG says it needs its best people to keep its healthy businesses profitable until it can sell them and the company plans to sell 65 percent of its businesses to repay its federal loan and get back on track.
Click to expand...

Try to control your hysteria and actually read.
Click to expand...

AIG would be in no position to offer these "retention" payments if it wasn't for public money.

Maybe things like "Bonuses" or "Retention Payments" are part of the problem, AIG should be able to keep its top talent without having to bribe them to stay...I guess that is what happens when you run a company into the ground. In the meantime, this is public money that is trading hands from you and I, to very affluent and connected people. Yeah I kind of have a problem with that.
Click to expand...

I have a problem with AIG not being able to pay the government back if their profitable divisions turn unprofitable because of a talent drain that wasn't stopped.
 
Originally posted by: cubby1223
Originally posted by: OrByte
AIG would be in no position to offer these "retention" payments if it wasn't for public money.

Maybe things like "Bonuses" or "Retention Payments" are part of the problem, AIG should be able to keep its top talent without having to bribe them to stay...I guess that is what happens when you run a company into the ground. In the meantime, this is public money that is trading hands from you and I, to very affluent and connected people. Yeah I kind of have a problem with that.
Click to expand...

You do realize we want AIG to pay back the bailout. If you had your way, AIG would now collapse and we get nothing back. :roll:
Click to expand...

Small minds and short-term thinking go hand in hand.

It's better if we let all of the talent leave the company and be left with a rotting husk of a company that's worth nothing at all, despite previously having business lines that were immensely profitable and well-run.
 
Originally posted by: cubby1223
Originally posted by: OrByte
AIG would be in no position to offer these "retention" payments if it wasn't for public money.

Maybe things like "Bonuses" or "Retention Payments" are part of the problem, AIG should be able to keep its top talent without having to bribe them to stay...I guess that is what happens when you run a company into the ground. In the meantime, this is public money that is trading hands from you and I, to very affluent and connected people. Yeah I kind of have a problem with that.
Click to expand...

You do realize we want AIG to pay back the bailout. If you had your way, AIG would now collapse and we get nothing back. :roll:
Click to expand...

If I had my way we wouldnt have given anything to AIG to lose. They would have collapsed just like every other business that failed.

But I forget....they are "too big to fail" :roll:

Forgive me for being a regular Joeblow from the ghetto, Im no expert. but at least I have the right sense to recognize when we are getting screwed by paying taxes just so that those taxes can be turned around and handed to wall street millionaires to pad their checking accounts.

F that.
 
Originally posted by: LegendKiller
Originally posted by: cubby1223
Originally posted by: OrByte
AIG would be in no position to offer these "retention" payments if it wasn't for public money.

Maybe things like "Bonuses" or "Retention Payments" are part of the problem, AIG should be able to keep its top talent without having to bribe them to stay...I guess that is what happens when you run a company into the ground. In the meantime, this is public money that is trading hands from you and I, to very affluent and connected people. Yeah I kind of have a problem with that.
Click to expand...

You do realize we want AIG to pay back the bailout. If you had your way, AIG would now collapse and we get nothing back. :roll:
Click to expand...

Small minds and short-term thinking go hand in hand.

It's better if we let all of the talent leave the company and be left with a rotting husk of a company that's worth nothing at all, despite previously having business lines that were immensely profitable and well-run.
Click to expand...

and you call me small minded? Hey Ive always said I dont understand this bullshit. I have a right to be angry though..and besides..thats pretty much all any of us can do anyway?

But lets take your scenario one step further and say that if these bright and "talented" people left AIG to work elsewhere..that leaves AIG in the dust but that gives one other company...hopefully a better funded and better managed company, that much of an edge in an industry that could really use a boost.

calling me small minded...and somehow you forgot how these company exist in a free market capitalistic society where the best businesses usually end up on top.

 
Taxpayers actually stand to make money from the AIG deal if the company is kept alive long enough to sell off most of its businesses in an orderly fashion. Not to mention the tiny benefits of not adding a hundred thousand additional people to the unemployment rolls and consequent loss of tax revenues.
 
Originally posted by: K1052
Taxpayers actually stand to make money from the AIG deal if the company is kept alive long enough to sell off most of its businesses in an orderly fashion. Not to mention the tiny benefits of not adding a hundred thousand additional people to the unemployment rolls and consequent loss of tax revenues.
Click to expand...

at the end of the day I hope that it all plays out like you and LegendKiller say it will.

If there is a plan out there lets hope it works. In the meantime stories like the OP piss me off and I am not going to apologize for it just because we are being told it is for the good of the economy.

A wallstreet millionaire is getting a million dollar "retention payment" and somehow I am supposed to be happy for him?

I was raised with my dads mentality which was you do the best job you can because if you dont there are 100 people right behind you waiting to do your job for you. That doesn't jive with AIG bribing people to stay and work for them, not in my book.

 
Originally posted by: OrByte
Originally posted by: K1052
Taxpayers actually stand to make money from the AIG deal if the company is kept alive long enough to sell off most of its businesses in an orderly fashion. Not to mention the tiny benefits of not adding a hundred thousand additional people to the unemployment rolls and consequent loss of tax revenues.
Click to expand...

at the end of the day I hope that it all plays out like you and LegendKiller say it will.

If there is a plan out there lets hope it works. In the meantime stories like the OP piss me off and I am not going to apologize for it just because we are being told it is for the good of the economy.

A wallstreet millionaire is getting a million dollar "retention payment" and somehow I am supposed to be happy for him?

I was raised with my dads mentality which was you do the best job you can because if you dont there are 100 people right behind you waiting to do your job for you. That doesn't jive with AIG bribing people to stay and work for them, not in my book.
Click to expand...

No, you're supposed to be happy the company's management is doing it's best to maintain profitability and thus will be able to repay the government loans.

You can't just take a guy off the street and say "Hey, you've got zero experience or training in managing/selling billions of dollars worth of insurance lines or investments but you're cheaper than the last guy so you're hired".
 
Originally posted by: dmcowen674
Originally posted by: K1052
Taxpayers actually stand to make money from the AIG deal
Click to expand...

I have a bridge for sale for you too
Click to expand...

You are wrong with such frightening consistency I'm surprised you still have the gall to post in this forum.
 
Originally posted by: dmcowen674
Originally posted by: K1052
Originally posted by: dmcowen674
Originally posted by: K1052
Taxpayers actually stand to make money from the AIG deal
Click to expand...

I have a bridge for sale for you too
Click to expand...

You are wrong with such frightening consistency I'm surprised you still have the gall to post in this forum.
Click to expand...

Only in the eyes of rich Republicans
Click to expand...

How's that Drive for $5 going?
 
Originally posted by: OrByte
and you call me small minded? Hey Ive always said I dont understand this bullshit. I have a right to be angry though..and besides..thats pretty much all any of us can do anyway?

But lets take your scenario one step further and say that if these bright and "talented" people left AIG to work elsewhere..that leaves AIG in the dust but that gives one other company...hopefully a better funded and better managed company, that much of an edge in an industry that could really use a boost.

calling me small minded...and somehow you forgot how these company exist in a free market capitalistic society where the best businesses usually end up on top.
Click to expand...

LOL. So now we're stuck with AIG you want to let it die, reducing the repayment? Hey, here's an idea, I'm going to force you to buy a house that's worth $100,000. Then, I'll not let you maintain it, but the mortgage will still be $100,000. Then, when it's a decaying pile of shit and I've stripped away all of the sinks, toilettes, windows, tile, carpet, wood floors, wiring, shingles, bricks, and wood, and use all of that to enhance my own house, I'll call your loan. You'll still need to pay me back $100,000, despite the hole in the ground that was your house only now being worth $5. Wow, you got boned. But hey, you improved my house for me, thanks!

Pretty dumb idea eh?

LOL, there is no "free market". That's your first mistake. You're second one is engaging in populist class wars.
 
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