Read an article in the Washington Post on this whole AIG controvesy. I understand that some people work very hard and do deserve their bonuses for meeting their goals. And it's tough that they are now under such scrutiny, but they are. We are footing the bill and should have some accountability for it. There are so many people taking substaintial pay cuts right now, just to keep their jobs and keep their company in business. And AIG is worried about contractual obligations regarding bonuses...you know there is some clause in those contracts that gives them an out when AIG needs it.
Here is a little excerpt that makes me laugh: In a letter to Geithner(Treasury Secretary) yesterday, Liddy (AIG CEO) agreed to restructure some of the payments. But Liddy said he had "grave concerns" about the impact on the firm's ability to retain talented staff "if employees believe that their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury."
So my questions are these...
1. What are these talented staff gonna do...quit and find better paying jobs right now?
2. Where are they going to go?
3. Tell me who is hiring right now so I can tweek my resume?
4. What level are these people on and what is the average bonus amount?
This is just outrageous really! How many chances does AIG get?
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