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The lobby of AIG's headquarters in the American International Building.. The AIG bonus payments controversy began in March 2009, when it was publicly disclosed that the American International Group (AIG) insurance corporation was going to pay approximately $218 million (~$301 million in 2023) [1] in bonus payments to employees of its financial services division.
Let me refresh your memory: the company paid out roughly $165 million in retention bonuses. Let's think back a month or two ago, when all the outrage surfaced over the bonuses paid out by American ...
On Thursday, The New York Times reported on James Haas, a 47-year old member of American International Group (AIG)'s troubled financial products unit, and one of three AIG execs who have been ...
On March 11, 2009, Geithner called Ed Liddy, the AIG chief, to protest the bonus payouts and request that the contracting containing the bonuses be renegotiated. [ 70 ] [ 71 ] Later in March, Liddy requested that employees who received bonuses of more than $100,000 return half of the payment. [ 72 ]
There has been a good deal of controversy over the original plan for AIG (AIG) to pay some of its "key" employees and managers $245 million in bonuses. The federal government, which owns 80 ...
AIG then spent $165 million of this money to hand out executive "retention" bonuses to its top executives. Public outrage ensued over this perceived misuse of taxpayer dollars. The Fox Business Network's Rich Edson broke the story claiming Dodd was responsible for the inclusion of a clause limiting excessive executive pay in the American ...
Let me refresh your memory: the company paid out roughly $165 million in retention bonuses. Let's think back a month or two ago, when all the outrage surfaced over the bonuses paid out by American ...
Peter Foley/Bloomberg via Getty Images Bank executives have spent the years since the financial collapse defending their industry's fat bonuses against criticism. AIG CEO Robert Benmosche just ...