AIG bonus information?

[BDashe 0]

http://www.cnn.com/2009/POLITICS/03/17/aig.bonuses/index.html

"Senate Majority Leader Harry Reid announced on the Senate floor Tuesday that the tax-writing Senate Finance Committee will pursue a legislative fix in such a way that the "recipients of those bonuses will not be able to keep all their money -- and that's an understatement."

isn't that what income tax is for? he he he...

Also, does anyone know if these proposed taxes will only affect AIG, or will it be country-wide on bonuses as a whole in another 'a few bad eggs ruin it for everybody' kind of deal?

The names of the people haven't been released yet, but does anyone have any idea through other avenues what positions may have gotten the bonuses?

Also, does anyone know how much AIG gave in bonuses previous years as a comparison?

I'm very curious to see how much of that $165M is irresponsible bonusing, and how many (if any) people deserved the bonus based on good performance.

I guess it just seems a little weird to get in a big huff over something without knowing all the facts first. We know the company did aweful, but you can still have some successes in there, right?

So there I was...

Making friends and playing nice since 1983

[BillyVance 34]

I loved the report about one senator who said that the AIG executives should either apologize for the mess or commit suicide.

"Mediocre people don't like high achievers, and high achievers don't like mediocre people." - SIX TIME National Champion coach Nick Saban

[Capt.Slog 0]

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I'm very curious to see how much of that $165M is irresponsible bonusing, and how many (if any) people deserved the bonus based on good performance.

What they DESERVED was to be out of work. Had AIG not been "too big to fail" they all WOULD have been out of work.

I'm sure many of the laid off WORKERS from companies like Caterpillar, Boeing, GE, Eastman Kodak, Textron, Sears (and the list goes on and on) had "good performance" too, but you never seem to whine on their behalf.

[Pendejo 0]

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http://www.cnn.com/2009/POLITICS/03/17/aig.bonuses/index.html

"Senate Majority Leader Harry Reid announced on the Senate floor Tuesday that the tax-writing Senate Finance Committee will pursue a legislative fix in such a way that the "recipients of those bonuses will not be able to keep all their money -- and that's an understatement."

isn't that what income tax is for? he he he...

Also, does anyone know if these proposed taxes will only affect AIG, or will it be country-wide on bonuses as a whole in another 'a few bad eggs ruin it for everybody' kind of deal?

The names of the people haven't been released yet, but does anyone have any idea through other avenues what positions may have gotten the bonuses?

Also, does anyone know how much AIG gave in bonuses previous years as a comparison?

I'm very curious to see how much of that $165M is irresponsible bonusing, and how many (if any) people deserved the bonus based on good performance.

I guess it just seems a little weird to get in a big huff over something without knowing all the facts first. We know the company did aweful, but you can still have some successes in there, right?

I think the lack of information is one of the more interesting parts of all the so called “outrage” stories. I understand the thought process that without a bailout the company would not be in business, and, to a certain extent I agree with it. But for the most part, I think its misdirection. I think they do not want most people to ask questions about how that happened.

I need to do some digging into it, but it seems like I remember their being oversight as to how the money was spent. But that might be wrong.

Pendejo

He who swoops the ditch and does not get out buys the BEER!!

[BDashe 0]

Yeah that is kinda where I am and why i am posting the questions- see if anyone knows anything in more detail. I mean on the surface it does look ugly and is easy to criticise, quite possibly justifiable. I just wanna know the deets of what all the political wind bags are talking about, they may be right!

what doesn't seem right is to keep stirring up this negative press without presenting any evidence to back the claims.

As for the workers- unfortunately they are more expendable. I've discussed in detail my thoughts on that topic in other threads, however i'd like to keep this in line with the AIG bonuses and who received them and why. As well as the current administrations logic and details on the reactionary policy about to be passed.

All we know is bonuses were paid, I'm curious to the meat of the story which has yet to come out- so I'm asking for peops to keep their eyes peeled cuz i think I'm not the only one who is curious.

edit: billyV- I thought that was hysterical too! i was dyin! I think he said it prematurely but it was pretty funny.

So there I was...

Making friends and playing nice since 1983

[Pendejo 0]

A little digging into it showed this from a hearing held by the Committee on Oversight and Government Reform on October 7 2008. The part that is important is on page 4 where they talk about having a copy of the minutes from the compensation committee’s (at AIG) meeting that talks about the bonus programs for not only the top exec’s, but also for 281 exec’s. They had the information.

Here is the link to the raw transcripts of the Oversight Hearing. Note page 4.

http://oversight.house.gov/documents/20081010162126.pdf

Here is the link to the raw minutes of the compensation committee’s meeting. Note the bottom of page 8.

http://oversight.house.gov/documents/20081007102121.pdf

Pendejo

He who swoops the ditch and does not get out buys the BEER!!

[BDashe 0]

hmm, that's from the gov;t standpoint. but interesting stuff in there.

http://online.wsj.com/article/SB123725551430050865.html

there is some info on where bailout money is going, and motivations behind the attention to the bonuses.

'The politicians also prefer to talk about AIG's latest bonus payments because they deflect attention from Washington's failure to supervise AIG. The Beltway crowd has been selling the story that AIG failed because it operated in a shadowy unregulated world and cleverly exploited gaps among Washington overseers. Said President Obama yesterday, "This is a corporation that finds itself in financial distress due to recklessness and greed." That's true, but Washington doesn't want you to know that various arms of government approved, enabled and encouraged AIG's disastrous bet on the U.S. housing market.'

So there I was...

Making friends and playing nice since 1983

[Pendejo 0]

The more I dig into it, the more irritating it becomes. I am sickened that our government gave a company that they themselves said was ran in a reckless manor over 170 billion dollars without having some sort of oversite as to how the money was spent. But they are the ones who did it, they will not put themselves on the line to be held accountable.

Pendejo

He who swoops the ditch and does not get out buys the BEER!!

[piper17 1]

I wonder if Harry Reid is going to compel Franklin Raines and his fellow swindlers, formerly of Fannie Mae, to give back the rest of the bonus money they left with when they were forced out of Fannie Mae for cooking the books to the tune of $11 billion.

In the end, Raines left with a $2.6million settlement!

"A man can never have too much red wine, too many books, or too much ammunition"...Rudyard Kipling

[rushmc 18]

http://hotair.com/archives/2009/03/20/video-congress-geithner-knew-about-bonuses-on-march-3rd/

view the C-span video


Fucking government

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[billvon 2,394]

And AIG is now suing the government for $306 million. I swear, it's like they're _trying_ to be evil.

[rushmc 18]

Good bonuses

http://www.associatedcontent.com/article/187761/walmart_goes_public_with_employee_bonus.html?cat=3

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Capt.Slog 0]

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Good bonuses

http://www.associatedcontent.com/article/187761/walmart_goes_public_with_employee_bonus.html?cat=3

"Highly criticized by some for not-so-great employee benefits and wages, the Wal-mart corporation has now publicized the fact that 80 million hourly employees will split more than half a billion dollars this year" ????

I never knew that 2 out of every 7 Americans worked for Wal-Mart.

$1/2 B divided by 80M gives each employee an annual bonus of $6.25

Somehow I think your source is not very reliable.

[rushmc 18]

It is also on Rueters Chicago. that should be easy for you to find

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[billvon 2,394]

>I never knew that 2 out of every 7 Americans worked for Wal-Mart.
>$1/2 B divided by 80M gives each employee an annual bonus of $6.25

Oh, so now you're using the liberal "consensus math?" Just because you think that 500/80=6.25 doesn't mean that everyone agrees. Why, just the other day there was a respected mathematician who claimed that the answer was 6 and 1/4! The lie that "we know how math works" isn't working any more, and people are starting to see how desperate you are.

Think about it in your gut. That's where the real answers lie.

[Capt.Slog 0]

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It is also on Rueters Chicago. that should be easy for you to find

They have quite different numbers than your source.

Fascinating that Wal-Mart makes a profit and pays an average bonus of $933.60 to it's people, AIG tanks, and pays on average $395,000 to the people who caused its failure.

[kelpdiver 2]

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>I never knew that 2 out of every 7 Americans worked for Wal-Mart.
>$1/2 B divided by 80M gives each employee an annual bonus of $6.25

Oh, so now you're using the liberal "consensus math?" Just because you think that 500/80=6.25 doesn't mean that everyone agrees. Why, just the other day there was a respected mathematician who claimed that the answer was 6 and 1/4! The lie that "we know how math works" isn't working any more, and people are starting to see how desperate you are.

Think about it in your gut. That's where the real answers lie.

This article is tragically awful - funny bit is most of the comments talk about how well written it was?! (is this high school?)

Highly criticized by some for not-so-great employee benefits and wages, the Wal-mart corporation has now publicized the fact that 80 million hourly employees will split more than half a billion dollars this year.
Wal-mart Goes Public with Employee Bonus Program

The amount per employee is not known for sure but doing a mathematical calculation of the number of employees and the amount of the shares, it's estimated that each will receive an average of about $651.00.

Employees reported that last year they made between $500-1,000 when bonus time came around.

Wal-mart's corporation employs over 1.34 million people in the U.S. including those who work for Sam's Club.

An estimated 1 million of those are hourly employees who will benefit from the bonus.

----
Perhaps 79M of these people are Chinese factory workers who get $1 each.

[BDashe 0]

not AIG specifically, and not firm details, but this is what i would expect to start to come forth. hopefully details soon on top performers getting screwed will appear:

http://online.wsj.com/article/SB123758150842398883.html

So there I was...

Making friends and playing nice since 1983

[penniless 0]

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not AIG specifically, and not firm details, but this is what i would expect to start to come forth. hopefully details soon on top performers getting screwed will appear:

http://online.wsj.com/article/SB123758150842398883.html

Which "top performers" would these be in companies that needed bailing out by taxpayers like me.

[rushmc 18]

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Quote

not AIG specifically, and not firm details, but this is what i would expect to start to come forth. hopefully details soon on top performers getting screwed will appear:

http://online.wsj.com/article/SB123758150842398883.html

Which "top performers" would these be in companies that needed bailing out by taxpayers like me.

NO company should have gotten any money. But, that is water now under the bridge. However, prior to the money being handed out Giethner, Dodd and most likely Obama KNEW the bonus's would be handed out. Other than Obama this is a fact. This bonus story is a bogus story.

Hope the Senate and House dont make a vilian out of you or your company. Seems they dont need a court to go after your personal info

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[jerryzflies 0]

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Quote

Quote

not AIG specifically, and not firm details, but this is what i would expect to start to come forth. hopefully details soon on top performers getting screwed will appear:

http://online.wsj.com/article/SB123758150842398883.html

Which "top performers" would these be in companies that needed bailing out by taxpayers like me.

NO company should have gotten any money. But, that is water now under the bridge. However, prior to the money being handed out Giethner, Dodd and most likely Obama KNEW the bonus's would be handed out. Other than Obama this is a fact. This bonus story is a bogus story.

Hope the Senate and House dont make a vilian out of you or your company. Seems they dont need a court to go after your personal info

From AP this morning:

Robert Willens, a corporate tax lawyer in New York, said the Senate bonus tax bill would still allow bailout beneficiaries to negotiate higher salaries with employees to compensate for lost bonuses. The Senate bill authorizes the Treasury to issue regulations preventing firms from masking bonus payments as salaries, but it does not prevent firms from handing out raises.

"If the vast majority of bonuses become fixed salaries that would harm the institutions because they would have higher fixed costs," Willens said. "What happens if the bank suffers through a poor year? It has all these fixed obligations they have to meet. That's the beauty of the bonuses."

WHAT? What if they have a POOR year? What exactly was last year? A bonanza for banks?

These Wall Street fat cats are totally out of touch with reality.

If you can't fix it with a hammer, the problem's electrical.