A.I.G. - Bonuses

By Omega Omega

Real Estate Broker/Owner with Omega

March 15, 2009 10:05 AM

A.I.G. (American International Group) latest news of being compelled to pay Bonuses is a huge Whack to the head of us Taxpayers or those of us who understand the premise if we/our company makes money, then we too should also be rewarded, some how.

(image courtesy of st. louis dispatch)

Since when is it a law or agreement that if the company loses money and we are part of the bonus population, we are entitled to receive whatever metric was established in our comp plan? Maybe I'm just a goofball or a meatheaded taxpayer but my question is what would have happened if AIG was allowed to go bust? Would there be any bonus money to pay out, let alone keep the doors open or the computers turned on?

This is what happens when we are forced to accept a person like Tim Geithner who didn't pay his taxes because otherwise, he could have argued on behalf of us taxpayers that the type of shenanigans pulled by the AIG team would not be tolerated - PERIOD!!!! End of discussion.

AIG

As usual feel free to chime in before I jump off the roof in outright disgust.

____________________________________

Fred Thomas, III VP, CB

Vice President, Chief Bloggeroligist

Omega Capital Financial, Inc.

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Larry Story ALC

Total Care Realty - Greensboro, NC

Beneath it all is the Land, Covering all of NC

Fred I by no means am supporting AIG's position but, it is my understanding that much of these "bonuses" are actually commissions.

Mar 15, 2009 10:26 AM

Omega Omega

Omega - Glendale, CA

Larry - thanks for chiming in. Perhaps you are right but either the media is up to their usual spin or somebody is lying (not you) as Bonuses are bonuses and commissions are commissions.

"AIG said there were two categories of payments: One was for senior executives, the other for 2008 retention bonuses for employees that the company agreed to pay before the federal bailout, the official said. AIG said the retention bonuses were legally required to be paid despite the bailout, a view the Obama administration concluded was correct after a review of the contracts."

Here's a article which clarifies the payment. In the meantime, you bring up a good point and I will check it out.

BONUSES OR COMMISSIONS

Cheers

Mar 15, 2009 12:59 PM

Regina P. Brown

MBA Broker Consultants - Carlsbad, CA

M.B.A., Broker, Instructor

Fred, what a great graphic! Your view expresses how MOST U.S. Citizens feel right now.

Join my new AR group and post your blog at http://activerain.com/groups/virtualoffice

Mar 15, 2009 04:18 PM

Hi again Regina -

Thanks for visiting Blog and chiming in, as well as inviting me to your group - much appreciated :)

Mar 15, 2009 04:23 PM

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