AIG heavyweights will be counting more pennies
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- November
- 25
  AIG has agreed to eliminate bonuses and salary increases for its top executives, state Attorney General Andrew Cuomo announced today. Cuomo said he is pleased with the development.
  “It is only fair that top executives, who benefit the most when firms do well, should also bear the burden of the difficult economic consequences their firms now face,” Cuomo said in a statement. “This gesture by AIG is appropriate and I encourage other firms to wake up to the new reality on Wall Street and follow AIG’s step quickly. The taxpayers of this country deserve nothing less.”
  AIG is grateful for the support it has received from American taxpayers and recognizes it needs to use that support to help the company recover and contribute to the economy, Edward Liddy, AIG chairman and CEO wrote in a letter to Cuomo. AIG’s top seven executives will not receive annual bonuses this year. Those executives and fewer than 55 senior partners will forego any salary increase through 2009 and their 2008 and 2009 bonuses will be restricted, Liddy said.
  AIG is developing a funding structure to ensure that no taxpayer dollars are used for annual bonus or future cash performance awards for the top 60 members of management. “We believe that these actions demonstrate AIG’s understanding of the depth of its obligation to the taxpayer and confirm its commtment to transparency of its disclosures,” he wrote.
This entry was posted
on Tuesday, November 25th, 2008 at 12:02 pm by Cara Matthews.
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AIG should also be cutting out their sponsorship of various sporting teams and events. 10’s of millions of dollars worth. They’d better not be using US taxpayer $$ to sponsor sports teams, instead of digging themselves of of their hole.
Citigroup is also in that ballpark, in a way. They still plan to spend many millions for the naming rights of the Mets new stadium, Citi Field.
J: Can you believe 20 million a year for 20 years? And the millions these fools personally pulled (and continue to pull in the form of BONUSES, no less, out of the company – MY company, by the way, if we still are so old fashioned to think that the stockholders own the company. These days, stockholders, like taxpayers are bosses in name only. Those we hire and elect spend their time figuring not exactly how to wipe us out, but they’ll let that happen before they allow themselves to get shortchanged.
HAVENT’ HEARD FROM NONAUBIZ RECENTLY..THERE ARE SOME
SERIOUS DEVELOPMENTS HE NEEDS TO KNOW ABOUT
Whatever they are, we can hope they are positive developments. Happy Thanksgiving, Consultant, and to everyone else too.
and happy thanksgiving to you as well jiminy and all
“A thankful heart is not only the greatest virtue, but the parent of all other virtues.” – Cicero
“Got no checkbooks, got no banks – still I’d like to express my thanks – I got the sun in the morning and the moon at night.” – Irving Berlin
Happy Thanksgiving, everybody!
Happy Thanksgiving to all on this post.
Okay I Googled for this – but I’m sending it to you:
“Thanksgiving Day is a jewel, to set in the hearts of honest men; but be careful that you do not take the day, and leave out the gratitude.” ~ E.P. Powell
Con-
Happy Thanksgiving!.
Non
back to you non..from con
Happy Thanksgiving wishes rescinded herewith to nonaubiz who grinchently sent good wishes to only the consultant.
ed1…don’t fret it was the only way he could contact
me…no one has my email..did you read the gannett
paper today opinion page?