AIG Bonus would you return the Money?

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I dunno. Hard call. The issue is one of integrity and abiding by one's word, (contract). If the company contracted to pay a certain amount, the company is obligated by law and morality to uphold it's commitment. In my view, when the government begins taking ownership, maybe the old contracts are void. I dunno. I do not think the gov can constitutionally take part or full ownership, and AIG should have gone into bankruptcy, which would have clearly voided all employment contracts. The real problem is government interference, not payment of contracted bonuses.
 
If I had a contract that said I would make x amount if I stayed on I would want that x amount. I am not sure there is truly a big market for AIG employees but some of these people may have had offers from other companies that offered a similar compensation plan. They chose to stay at AIG because of the money and now people are freaking out that they are getting what AIG agreed to.

There is a distinct possibility that if AIG told everyone that they would not pay out future bonus' people would leave. If my boss told me today that he was no longer paying comissions I would have my resume out first thing when I got home. I wouldn't quit but I could tell you that when I got a good offer I would leave. The bonus is part of the compensation plan. Some people take lower base salaries because of the bonuses.

I know that AIG would be out of business if the govt. didn't intervene and these people would be out of jobs all togehter but that didn't happen.
 
I'm with awgee... if AIG had gone into bankruptcy instead... what would have become of those contracts?

That contract is stupid if the bonus is guaranteed without any failsafes.

I think the biggest problem is that these bonuses are way beyond what people view normal bonuses as. Must be nice to have a $1mil+ bonus contract that kicks in no matter what happens.
 
trrenter said:
I know that AIG would be out of business if the govt. didn't intervene and these people would be out of jobs all togehter but that didn't happen.
Click to expand...

So because the government bailed them out in order to avoid the cascade effect

of their selling toxic CDS`s. Kind of like selling $ 100.00 bills for $ 1.00.

We should give them a bonus ? These guys were "ORDER TAKERS". The Management

of the Financial Services unit almost ruined the financial system by selling

these Instruments.

http://www.reuters.com/article/newsOne/idUSMAR85972720080918

These guys were only one on side of the trade so they got buried.

Everybody else hedged both ways. AIG didnt so they lose and so do the taxpayers.

Now we should pay them a BONUS too. I say screw them.

Kind of like when I was in sales years ago. Your commission would be

"Clawed Back" if the customer failed to pay the recievable. Sure you did your

part. But thats not the way a VIABLE Corporation works. We all live and die together.

If you want a job like that. Go be a teacher. Who cares if 1/2 the students drop out.
 
irvine_home_owner said:
I'm with awgee... if AIG had gone into bankruptcy instead... what would have become of those contracts?

That contract is stupid if the bonus is guaranteed without any failsafes.

I think the biggest problem is that these bonuses are way beyond what people view normal bonuses as. Must be nice to have a $1mil+ bonus contract that kicks in no matter what happens.
Click to expand...

I agree the bonus' were stupid because they are retention bonus'. So lets get this straight we may be going under, we have a high unemployment rate and your division is responsible for most of our problems. We are afraid we will lose you so if you agree to stay on at what we have been pay you a million dollars.

If I was there I would have said Heck yes. I bet over half these people thought when they were called in to discuss the retention bonus probably thought they were going to get fired.

I know if my boss called me into the office today and said listen we want to give you one million dollars in six months if you stay on. I would sign that baby and be at his office six months from today.

I would keep every cent of it.
 
AIG.gif
 
I keep the bonus too.

The anger with the bonus shouldn't be directed to AIG or the receivers, it should be directed at those idiot pompous *sses in the Congress that rushed the bailout through and didn't clearly spell it out in the first place.

Frankly, if the choice is bribe them or have them trade against the portfolio, I say blow it up, put it in receivership and let's find out where it's all eventually headed anyway.

Same story with GM and Chyrsler and the State of California. Default it, kill all the contracts and liquidate.
 
I wouldn't dream giving it back. I would ask for even more! Not my fault they want to pay it. You would be a sucker to give it back.

Don't blame the employee. The fact that the contracts would have gone void if they were to go bankrupt is irrelevant. They didn't go bankrupt, goverment decided to bail them out, and employes got paid.

Blame the government, blame Obama, blame Bush, blame the FED, blame whoever you want, but not the employee.
 
If you listened to Liddy the other day, you know that the lives of these exec's families were threatened as a result of the bonuses. Would perhaps that make you change your mind? No amount of $$$ is worth potential harm to your family.
 
In hindsight, I think the right choice would have been to hang on to your bonus, it's only been a few weeks ago that all this was going on and everyone has already forgotten about it..
 
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