The very thing you describe is already happening. There are reports that some AIG employees that are not connected to the FP unit have been harrassed, some on buses, on the street, etc. I can understand being angry about a situation, but how can you attack people that had nothing to do with the crisis? These people are ordinary individuals trying to make a living and feed their families like every other American.
I heard that AIG Security released a company memo to all their employees warning them not carry any items with the company name and logo. I agree with CDM that there are too many crazy people out there for Cuomo to even be thinking about releasing these names. As much as we would like to shame the FP people into giving back the money should we do it at the cost of the safety of them and their families? This mob mentality has to give way to clearer heads. I only hope it is sooner than later.
I am certainly not condoning the actions of AIG or any overpaid executives of other corporations, but the “lawmakers” are also guilty of arrogance, incompetence and greed. Shame on all of you.
Considering all the facts, and that is all that should be what is considered, the mudslinging is going to hurt not only the economy but it will change the lives of all people involved. With the assistance of the Fed and all other governmental bodies can’t we simply fix this once and for all. What other countries must think of us Americans? Doesn’t anyone care anymore? If the New Hampshire guy wants the job that Liddy has then let him take it!
And to think, I can have more headaches than a soft market and poor economy for just $1 a year salary.
Now I don’t feel so bad that my $30K commission GC just tanked.
The stupid Govt wanted to take a stake in AIG, tsk tsk. How about they take a larger chunk by buying my worthless AIG stock for 100X it’s value.
There are many who approved the bailout to AIG, that KNEW there was bonus/ retention money going to employees…I live an hour shy of one of the AIG offices in Boston…people are walking out the door of that company left and right…who wants to work for a company whose name is dragged through the gutter? even if what has come to light of there practice was all the truth. Do you think employees at AIG especially those whose job is retention is just going to do it with no intiatives in place?….that doesn’t even make sense…every company offers iniatives for performance,nothing new! especially in the state that the company is in..the media and a lot of people in government play sides, we all know that. It may be a shock to everyday Joe’s but it wasn’t a shock to a lot of other people.
I totally agree with “come on nows” post. The retention bonus/incentive is basically a rental of the loyalty of employees. Employees who are needed in order to keep the business afloat until the task of ridding the company of the bad deals…call it a run off if you will, cause that is what it is.
Without these persons (even in the offensive unit who caused the situation) there is no way that AIG can move forward.
Think this way… your company has announced that they are going to disolve themselves. You need a job and are ready to jump ship. But the company says “stay here until the end and help us do an orderly disolvment process”. Your reward is a bonus equal to X? of your salary. Perhaps they should really call it a severance package…cause that is what it is for the units actually being disolved.
This morning on NPR there was mention that Mr. Liddy read to Congress some very threatening letters AIG had received. In one, the writer was demanding the names of all the employees who received a bonus so he, the letter writer, could track them AND THEIR FAMILIES DOWN AND STRANGLE ALL OF THEM WITH PIANO WIRE. Obviously THERE ARE SOME VERY UNBALANCED PEOPLE IN THIS WORLD, very sick puppies! However, if I were working for AIG, I would consider resigning because some unbalanced people actually act on their delusions. Maybe Congress should consider it ‘hazardous duty pay’ such as given to our military personnel in areas of conflict! Anyone have any idea how much it would cost to hire bodyguards for a family of four? It would be nice to eventually sort out all the sub-prime mortgage mess, but if people aren’t PAID to do it, it will never get sorted out. Yes, the AIG brand and logo will soon be history. This is all rant and hype.
Seems like the “government” is the only one that can bail you out? You can have a welfare check, unemloyment check, a stimulus job, but not the company bonus you were anticipating. no,no,no. Washington is doing a lot to promote businesses as the greedy, incompetent, behind the times entities that are sucking the American taxpayers dry. It feels a lot like a set up to me.
Of course,no one ever took the time to address bonuses,etc. Let’s just write some checks.
Did I hear correctly that this guy who says he cant cancel those bonus contracts is the same guy who cancelled 6,000 agent/employee contracts while head of Allstate in ’98?????
The very thing you describe is already happening. There are reports that some AIG employees that are not connected to the FP unit have been harrassed, some on buses, on the street, etc. I can understand being angry about a situation, but how can you attack people that had nothing to do with the crisis? These people are ordinary individuals trying to make a living and feed their families like every other American.
I heard that AIG Security released a company memo to all their employees warning them not carry any items with the company name and logo. I agree with CDM that there are too many crazy people out there for Cuomo to even be thinking about releasing these names. As much as we would like to shame the FP people into giving back the money should we do it at the cost of the safety of them and their families? This mob mentality has to give way to clearer heads. I only hope it is sooner than later.
What goes around comes around.
“But you ain’t got no legs, Lieutenant Dan!”
I am certainly not condoning the actions of AIG or any overpaid executives of other corporations, but the “lawmakers” are also guilty of arrogance, incompetence and greed. Shame on all of you.
Considering all the facts, and that is all that should be what is considered, the mudslinging is going to hurt not only the economy but it will change the lives of all people involved. With the assistance of the Fed and all other governmental bodies can’t we simply fix this once and for all. What other countries must think of us Americans? Doesn’t anyone care anymore? If the New Hampshire guy wants the job that Liddy has then let him take it!
Joe,
You made my day! The best laugh I’ve had this week.
Thanks
Wow….glad I turned down the job offer last year. I do feel sorry for the average Joe worker who is trying to food on the table.
And to think, I can have more headaches than a soft market and poor economy for just $1 a year salary.
Now I don’t feel so bad that my $30K commission GC just tanked.
The stupid Govt wanted to take a stake in AIG, tsk tsk. How about they take a larger chunk by buying my worthless AIG stock for 100X it’s value.
There are many who approved the bailout to AIG, that KNEW there was bonus/ retention money going to employees…I live an hour shy of one of the AIG offices in Boston…people are walking out the door of that company left and right…who wants to work for a company whose name is dragged through the gutter? even if what has come to light of there practice was all the truth. Do you think employees at AIG especially those whose job is retention is just going to do it with no intiatives in place?….that doesn’t even make sense…every company offers iniatives for performance,nothing new! especially in the state that the company is in..the media and a lot of people in government play sides, we all know that. It may be a shock to everyday Joe’s but it wasn’t a shock to a lot of other people.
I totally agree with “come on nows” post. The retention bonus/incentive is basically a rental of the loyalty of employees. Employees who are needed in order to keep the business afloat until the task of ridding the company of the bad deals…call it a run off if you will, cause that is what it is.
Without these persons (even in the offensive unit who caused the situation) there is no way that AIG can move forward.
Think this way… your company has announced that they are going to disolve themselves. You need a job and are ready to jump ship. But the company says “stay here until the end and help us do an orderly disolvment process”. Your reward is a bonus equal to X? of your salary. Perhaps they should really call it a severance package…cause that is what it is for the units actually being disolved.
This morning on NPR there was mention that Mr. Liddy read to Congress some very threatening letters AIG had received. In one, the writer was demanding the names of all the employees who received a bonus so he, the letter writer, could track them AND THEIR FAMILIES DOWN AND STRANGLE ALL OF THEM WITH PIANO WIRE. Obviously THERE ARE SOME VERY UNBALANCED PEOPLE IN THIS WORLD, very sick puppies! However, if I were working for AIG, I would consider resigning because some unbalanced people actually act on their delusions. Maybe Congress should consider it ‘hazardous duty pay’ such as given to our military personnel in areas of conflict! Anyone have any idea how much it would cost to hire bodyguards for a family of four? It would be nice to eventually sort out all the sub-prime mortgage mess, but if people aren’t PAID to do it, it will never get sorted out. Yes, the AIG brand and logo will soon be history. This is all rant and hype.
Seems like the “government” is the only one that can bail you out? You can have a welfare check, unemloyment check, a stimulus job, but not the company bonus you were anticipating. no,no,no. Washington is doing a lot to promote businesses as the greedy, incompetent, behind the times entities that are sucking the American taxpayers dry. It feels a lot like a set up to me.
Of course,no one ever took the time to address bonuses,etc. Let’s just write some checks.
Did I hear correctly that this guy who says he cant cancel those bonus contracts is the same guy who cancelled 6,000 agent/employee contracts while head of Allstate in ’98?????
Yep, it was in 96 not 98. It is payback time!