AIG is of the Devil

#51
#51
UT IE 95 said:
When you get into 6 figure bonuses you have plenty of control and oversite of others. If not, I have a bigger problem with these bonuses.
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That's senseless when the bonuses are about revenue production.
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#52
#52
The issue w thread titles like this is that it is very misleading. My mom actually works for aig in NYC. Not a big salary, but her workload has tripled with all the layoffs. She didn't get laid off because her salary not very high and she can perform many different roles. She was due to get simply 5 k a fewo ths ago as a performance bonus for her hard work, but ended up not due to perception. She understands, but gets frustrated when her associates have been attacked verbally, on streets or subways if people realize they work for aig. Now I am sure lawgator realizes that it's not 99.9 percent of aig emplyees fault the mess they are in, but their are a lot of idiots out there who have no clue. Kind of similar to why lg hates consevative radio. Dumb people look to blame others for their situation.
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#53
#53
Vols520 said:
The issue w thread titles like this is that it is very misleading. My mom actually works for aig in NYC. Not a big salary, but her workload has tripled with all the layoffs. She didn't get laid off because her salary not very high and she can perform many different roles. She was due to get simply 5 k a fewo ths ago as a performance bonus for her hard work, but ended up not due to perception. She understands, but gets frustrated when her associates have been attacked verbally, on streets or subways if people realize they work for aig. Now I am sure lawgator realizes that it's not 99.9 percent of aig emplyees fault the mess they are in, but their are a lot of idiots out there who have no clue. Kind of similar to why lg hates consevative radio. Dumb people look to blame others for their situation.
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So, you DO know our buddy LG.
 
#54
#54
UT IE 95 said:
When you get into 6 figure bonuses you have plenty of control and oversite of others. If not, I have a bigger problem with these bonuses.
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There are plenty of people who generate 7 figures in revenue who have only 1 or 2 people working under them
 
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#56
#56
Bonuses are part of the salary structure of many financial companies. These bonuses as BPV related are performance based. When you are talking about $125M for AIG this is basically peanuts when you consider their annual revenue which was about $16.8B if I read correctly. This equates to the bonuses being 0.75% of their total revenue. The feathers are getting ruffled by our democratic brothers because this last year there was government aide given to AIG and others.

If AIG wasn't given help and their numbers were fine I would think their bonuses would more than the $150M due to the performance sharing model. So, my advice is let AIG move forward with their model and get over it. It seems based on comments in the Obama organization, they even agree with the bonus structure.
 
#57
#57
Vols520 said:
The issue w thread titles like this is that it is very misleading. My mom actually works for aig in NYC. Not a big salary, but her workload has tripled with all the layoffs. She didn't get laid off because her salary not very high and she can perform many different roles. She was due to get simply 5 k a fewo ths ago as a performance bonus for her hard work, but ended up not due to perception. She understands, but gets frustrated when her associates have been attacked verbally, on streets or subways if people realize they work for aig. Now I am sure lawgator realizes that it's not 99.9 percent of aig emplyees fault the mess they are in, but their are a lot of idiots out there who have no clue. Kind of similar to why lg hates consevative radio. Dumb people look to blame others for their situation.
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Its not the $5K bonuses that are causing this much backlash, its the ones for tens of millions of dollars at a company (or division within a company) that lost gobs of money.
 
#58
#58
lawgator1 said:
Its not the $5K bonuses that are causing this much backlash, its the ones for tens of millions of dollars at a company (or division within a company) that lost gobs of money.
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I understand that, but people have to hide the fact they work for aig, and that us pathetic. Don't quote me and then miss the point.
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#59
#59
My last statement didn't intend to come out so rude, hard writing on an iPhone sometimes.
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#60
#60
Vols520 said:
I understand that, but people have to hide the fact they work for aig, and that us pathetic. Don't quote me and then miss the point.
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Vols520 said:
My last statement didn't intend to come out so rude, hard writing on an iPhone sometimes.
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I understand that but if it bothers you to have people quote you and then change your point and argue their bastardization of your point, then you will be very unhappy here.

Some of the posters here can do nothing else.
 
#61
#61
lawgator1 said:
I understand that but if it bothers you to have people quote you and then change your point and argue their bastardization of your point, then you will be very unhappy here.

Some of the posters here can do nothing else.
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You're so misunderstood. I'm damn near tears.
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#62
#62
volinbham said:
thought I heard somewhere today that if some of these folks leave, the policies (or products of some sort) dissolve or move. As a result people leaving would cause financial hardship for AIG and possibly the need for more gov. intervention.

I'm might have been hallucinating too....
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i'm sure their insurance rainmakers are leaving in droves and generally these people do take all of their clients with them. you try telling selling someone a $10 mil insurance policy backed by aig. near impossible. the only way to keep these people woudl be to privide retention bonuses and increased compensation.
 
#63
#63
droski said:
i'm sure their insurance rainmakers are leaving in droves and generally these people do take all of their clients with them. you try telling selling someone a $10 mil insurance policy backed by aig. near impossible. the only way to keep these people woudl be to privide retention bonuses and increased compensation.
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Good stuff there. Your fix for employees not being able to sell big ticket insurance policies is to give big bonuses and increase compensation. That reeks of a money grab scheme if I've ever read one.
 
#64
#64
UT IE 95 said:
Good stuff there. Your fix for employees not being able to sell big ticket insurance policies is to give big bonuses and increase compensation. That reeks of a money grab scheme if I've ever read one.
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no you give them enough compensation to make sure they stay there until aig either recovers or "rebrands" itself. do you realize how much a top insurance broker produces for a firm? it can easily get into the high 7 figures. 8 figures for a real top guy. that business won't go away 100%. clients will still trust the guy. his business might be down 50%, but that is a lot better than losing 100% of the revenue he generates. morgan stanley and merrill did exactly the same thing for their top stock brokers. i have a buddy getting a $500k retention bonus from morgan in january.
 
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