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Thursday, July 09, 2009

You're a Great Boss!

It's 'your' company ... did you know that you were going to be so generous to its top executives?

AIG Seeks Clearance For More Bonuses | Washington Post

American International Group is preparing to pay millions of dollars more in bonuses to several dozen top corporate executives after an earlier round of payments four months ago set off a national furor.

The troubled insurance giant has been pressing the federal government to bless the payments in hopes of shielding itself from renewed public outrage.

The request puts the administration's new compensation czar on the spot by seeking his opinion about bonuses that were promised long before he took his post.

AIG doesn't actually need the permission of Kenneth R. Feinberg, who President Obama appointed last month to oversee the compensation of top executives at seven firms that have received large federal bailouts. But officials at AIG, whose federal rescue package stands at $180 billion, have been reluctant to move forward without political cover from the government. ...

Posted by Dave Chandler on Thursday, July 09, 2009 |

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