Comments on: AIG Executives in Breach of their Duties to Shareholders with Bonus Payouts

By: meetjohnsong

meetjohnsong — Sun, 21 Feb 2010 00:54:53 +0000

Thanks Matthew. I’ve had others test it and things seem to be in working order. Can you try again?
Cheers!

By: Matthew C. Kriner

Matthew C. Kriner — Sat, 20 Feb 2010 16:19:59 +0000

I like your content on your page, but it appears as though your RSS feed is getting a 404 error? Maybe it has something to do with your host. I just thought from webmaster to webmaster I would warn you of this problem so you don’t miss out on potential subscribers! If it still works for you have a friend try it, could be blocking external connections.

By: Kendall

Kendall — Tue, 17 Mar 2009 14:21:48 +0000

Hi John, insightful post. However, before we go accusing executives of a breach of their “fiduciary” duty, let’s please understand that fiduciary means a legal relationship of confidence or trust, such as between a trustee and a beneficiary.

On the surface, it appears a breach because the company accepted money from the government and then paid it out. However, if the individuals receiving these payments have a legal right to the payments, and the company maintains a legal obligation for payment, then not paying them is a willful breach of contract. To not pay them, if the employees have certain rights to property (ie. money) under the agreements, would also be a breach of duty.

My experience with the press is that they rarely get the true story right. I don’t think anyone is truly telling the whole story here, we just see how it makes news. How many times were you interviewed by the press, John, and what was written wasn’t what you said? Let’s not linch the executives or the employees who have rights; let’s not ask our government to throw out the 5th amendment; let’s let cooler heads prevail and demand that our government make sense of our investments.

Let freedom ring!

By: rich

rich — Mon, 16 Mar 2009 11:40:36 +0000

When AIG was questioned about the federal assistance they received, what part of the question had anything to do with who else got help? IDo they follow outing techniques from who they lrespect the most. Congress knows (should know) who received help and should not be insulted by deceptive answers from this now indebted to the federal government company.

By: Theodore

Theodore — Mon, 16 Mar 2009 10:32:24 +0000

AIG is a blind horse with four broken legs…….no one in Washington DC has the courage to pull the trigger.

The US treasury should seize control and completely dissolve the company.

At this point we have nothing to lose…except more bonuses.

By: Theodore

Theodore — Mon, 16 Mar 2009 10:29:35 +0000

AIG is blind horse with four broken legs…….no one in Washington DC has the courage to pull the trigger.

The US treasury should seize control and completely dissolve the company.

At this point we have nothing to loose…except more bouneses.

By: anonymous

anonymous — Mon, 16 Mar 2009 10:18:40 +0000

I can assure you that as an AIG “rank and file” worker I am NOT the recipient of any bonus or even a Merit raise this year. I work hard for this company both before and after the crisis and will receive NOTHING. I am however, the recipient of the daily stress of wondering when I will be laid off! My review wasn’t even administered to me – it was emailed. While I try to understand someof the nuances of what is happening and WHY I can’t help but feel more and more let down and disgusted as the days wear on.

By: jax

jax — Mon, 16 Mar 2009 08:15:43 +0000

AIG = Allowing Irreversible Greed.
AIG = All in Greed.
AIG = Arn’t I Greedy.
AIG = A$#holes, in general.

This is sick. Why in the world are we helping these companies that keep sending millions to people who do not know how to run a company? They cry yet get paid millions on the “average joes” taxes. Furthermore, I fear this is just the tip of the iceberg. Look what Enterprise rent-a-car did to get bailout funds:

http://www.butasforme.com/2009/02/25/alert-enterprise-rent-a-car-may-have-fired-employees-as-fake-evidence-when-lobbing-for-bailout-money/

Not to make excuses for these people, but the bailouts are making crooks out of everyone that touches the money.