Sunday, April 05, 2009

Is there just no end to this?


sleepyrn said...

I'm not saying bonuses for losing companies are right, but what was the dude's annual SALARY?

You can count me right down the middle politically but I really get tired of the news media painting the picture they want us poor lemmings to see.

The VAST majority of the AIG bonuses (as well as most any corporate bonuses) go to people whose contracted annual salary is $1 (that's one dollar). Their bonus IS their annual income.

I'm not saying that $1,000,000 bonus/salary is not extreme for a company that lost billions but at least lets make a judgment based on ALL the facts not just what some media people and or politicians with an agenda want us to know.

OK I a am off the soapbox again.

Jim said...

sleep -- no one at AIG makes $1 per year, they all receive salaries with one exception.

The bonuses that were paid were 100% of base salary for junior executives and 200% of base for senior executives. The head of AIG's internal retirement services got more than 400% of his base.

Only AIG Chief Executive Officer Edward Liddy is to receive $1 for 2008 -- but he still gets expenses and stock options.

Sourse: Bloomberg

sleepyrn said...

I sit correct. :(

Jim said...

sleep -- no more talk radio!