“In 2011, his compensation will total $7 million, including $1.8 million in base pay, $4.4 million in stock salary and $800,000 in TARP long-term restricted stock, the first source said.
AIG worked closely with U.S. pay czar Kenneth Feinberg on the matter and he has cleared Hancock’s compensation, the sources said.”
here’s the problem, how is tarp money authorized for this? how can tarp money purchase stock? this all sounds wrong and fishy! WHERE/WHEN will it all end? Gov’t needs to get it’s money back asap and allow this company to file bankruptcy and restructure. it might have been prevented all this moan and groan of the american people. we might have more respect for our congress if they had left their foot and ours, away from this fiasco.
so when will the american people file a lawsuit against uncle sam, and have either our money return or allow us not to file any taxes. this is getting old – i bet we as a gov’t having a ownership of the company is not even going to have a dividend paid to us as a taxpayer. it would be interesting to see the tax forms for AIG, it should be open to all to see, afterall, i technically own the company…
It is interesting to note that all of the new CEO’s hires are ex commercial bankers. I thought the idea was to get out of financial products, strengthen the P&C operations, and sell and/or strengthen the life businesses. So far a few of the P&C units have been downsized and sold (including mine); a financial investment group sold, and some of the off shore life operations. The net proceeds did not even make a dent in the bailout. Meanwhile the P&C companies (Chartis) are shrinking. I don’t follow the life businesses. The likelyhood of all of moneys lundered through AIG being repaid are nil. The parent company (AIG) should have been allowed to go into bankruptcy and the vital on-going businesses (like the P&C units)spun out. If this was good enough for GM; why not AIG? I guess it was because there were no unions involved.
“In 2011, his compensation will total $7 million, including $1.8 million in base pay, $4.4 million in stock salary and $800,000 in TARP long-term restricted stock, the first source said.
AIG worked closely with U.S. pay czar Kenneth Feinberg on the matter and he has cleared Hancock’s compensation, the sources said.”
here’s the problem, how is tarp money authorized for this? how can tarp money purchase stock? this all sounds wrong and fishy! WHERE/WHEN will it all end? Gov’t needs to get it’s money back asap and allow this company to file bankruptcy and restructure. it might have been prevented all this moan and groan of the american people. we might have more respect for our congress if they had left their foot and ours, away from this fiasco.
so when will the american people file a lawsuit against uncle sam, and have either our money return or allow us not to file any taxes. this is getting old – i bet we as a gov’t having a ownership of the company is not even going to have a dividend paid to us as a taxpayer. it would be interesting to see the tax forms for AIG, it should be open to all to see, afterall, i technically own the company…
It is interesting to note that all of the new CEO’s hires are ex commercial bankers. I thought the idea was to get out of financial products, strengthen the P&C operations, and sell and/or strengthen the life businesses. So far a few of the P&C units have been downsized and sold (including mine); a financial investment group sold, and some of the off shore life operations. The net proceeds did not even make a dent in the bailout. Meanwhile the P&C companies (Chartis) are shrinking. I don’t follow the life businesses. The likelyhood of all of moneys lundered through AIG being repaid are nil. The parent company (AIG) should have been allowed to go into bankruptcy and the vital on-going businesses (like the P&C units)spun out. If this was good enough for GM; why not AIG? I guess it was because there were no unions involved.