AIG is of the Devil

#1
lawgator1

lawgator1

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#1
AIG bonuses: $235 million to go - Jul. 10, 2009

Let's see here, I think I have the formula now.

Run your investment business into the ground. Check.

Make the investment division so awful it threatens to bring down the entire company. Check.

Take billions in government assistance to make payroll. Check.

Ask the administration to authorize $250 million in bonuses, over which it has no jurisdiction, and say you need them to okay it to give you political cover to pay back the money you borrowed. Check.
 
#2
#2
yes. let's make sure they absolutely can't compete with any other company out there and make sure they never give any bonuses ever again. or do you prefer the citibank way where they just raise peoples' salaries by the amount the bonus would be?
 
#4
#4
the demonization of american business by the obama administration is pathetic.
 
#5
#5
droski said:
yes. let's make sure they absolutely can't compete with any other company out there and make sure they never give any bonuses ever again. or do you prefer the citibank way where they just raise peoples' salaries by the amount the bonus would be?
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I have to choose the raise because of taxes. Seems the WH would rather collect at the bonus rate than regular tax rate (but math doesn't appear to be a requirement to work in DC)
 
#7
#7
utvolpj said:
I have to choose the raise because of taxes. Seems the WH would rather collect at the bonus rate than regular tax rate (but math doesn't appear to be a requirement to work in DC)
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it's news to me that bonuses aren't taxed at ordinary income.
 
#9
#9
utvolpj said:
my bonus
check is always taxed at a higher rate, around 40%, than my normal income.
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Yes but you should get the money back when you file. The irs treats it as though you got a 12 month raise not a one time payment.
 
#10
#10
droski said:
yes. let's make sure they absolutely can't compete with any other company out there and make sure they never give any bonuses ever again. or do you prefer the citibank way where they just raise peoples' salaries by the amount the bonus would be?
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The are lucky to even be competing now. They should have gone under.
 
#12
#12
rjd970 said:
The are lucky to even be competing now. They should have gone under.
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and the employees should give a crap about that why? if these guys are getting 6 figure bonuses, trust me finding employment will not be a problem.
 
#14
#14
droski said:
and the employees should give a crap about that why? if these guys are getting 6 figure bonuses, trust me finding employment will not be a problem.
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Then why work for a company with a bad reputation that has to go to Congress when they want to give out bonuses? Seems to me if they are that wanted in the industry, they would want to go somewhere else where their bonuses won't be threatened.
 
#15
#15
rjd970 said:
Then why work for a company with a bad reputation that has to go to Congress when they want to give out bonuses? Seems to me if they are that wanted in the industry, they would want to go somewhere else where their bonuses won't be threatened.
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they are losing employees by the hundreds and thousands. as is citi and bank of america. there are many reasons why someone might not switch jobs even if they could get another one. loyalty, maybe they actually like the job, like their coworkers, etc. i get offers for upfronts to change jobs every day. but if you screw with my compensation i'll be out of the door in 5 seconds. just like the only profitable aig employees will if obama et all get their way.
 
#16
#16
droski said:
nope, but i bet the people getting the bonuses are very profitable to aig.
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Or, more likely, kicking back a portion to the board, or at least well connected by family or socially to the decisionmakers at the company.
 
#17
#17
lawgator1 said:
Or, more likely, kicking back a portion to the board, or at least well connected by family or socially to the decisionmakers at the company.
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wow you have officially gone off the deep end. do you really think that ANY public corporation gives bonuses to people who don't generate revenue? describe ONE SINGLE organization you know that works that way. and particurally in this environment would they really be so stupid ot hand money to their buddies? and by law they can't give bonuses to the board without shareholder approval.
 
#18
#18
droski said:
nope, but i bet the people getting the bonuses are very profitable to aig.
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Since it's a tax payer funded bonus they should publish the financial justification on every bonus over $10K.

Then we can add those up and compare it to the quarterly bottom line for AIG and let the crap hit the fan that way.
 
#19
#19
UT IE 95 said:
Since it's a tax payer funded bonus they should publish the financial justification on every bonus over $10K.

Then we can add those up and compare it to the quarterly bottom line for AIG and let the crap hit the fan that way.
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right because the american public surely will understand what all these people do and why they are valuable. the american public being so financially savy and all.
 
#22
#22
UT IE 95 said:
Since it's a tax payer funded bonus they should publish the financial justification on every bonus over $10K.

Then we can add those up and compare it to the quarterly bottom line for AIG and let the crap hit the fan that way.
Click to expand...

droski said:
right because the american public surely will understand what all these people do and why they are valuable. the american public being so financially savy and all.
Click to expand...


IE's solution seemed perfectly reasonable.
 
#23
#23
right. so it wouldnt' be burdensome at all for them to write 10,000 seperate justifications for the bonuses. are you TRYING to get all these people to leave? even the obama administration seems to want these bonuses paid.
 
#25
#25
i can just read it now. well jim brought in 10% of this 100,000,000 mil account. patty brought 5%. jim's analysis on bobs derivatives trade provided about 10% of the profit on bob's derivates trade. sometimes i wonder if any of you have actually worked for a living. how are your bonuses determined exactly?
 
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