ft.com - 10/12/2009
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By Francesco Guerrera in New York and Tom Braithwaite in Washington Published: October 11 2009 22:09 | Last updated: October 11 2009 22:09 The Obama administration’s pay tsar has indicated he will take a tough stance on executive pay at AIG , the state-controlled insurance group that sparked ...
online.wsj.com - 10/13/2009
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online.wsj.com —
WASHINGTON -- The U.S. Treasury is pressing American
International Group Inc. to reduce $198 million in scheduled...
retention payments as company and government officials continue to wrangle over pay packages that set off a political firestorm earlier ...
(more)
U.S. Wants AIG Retention Pay Cut
online.wsj.com - 10/15/2009
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online.wsj.com —
WASHINGTON -- Neil Barofsky, the special inspector general
for the government's financial bailout said Wednesday that the...
$168 million in retention payments to American International Group Inc. represented a "failure" that occurred when the Treasury ...
(more)
AIG Bonuses Were a Treasury 'Failure,' Barofsky Says
online.wsj.com - 10/14/2009
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online.wsj.com —
WASHINGTON -- Neil Barofsky, the special inspector general
for the government's financial bailout said Wednesday that the...
$168 million in retention payments to American International Group Inc. represented a "failure" that occurred when the Treasury ...
(more)
AIG Bonuses Were a Treasury 'Failure,' Barofsky Says
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US ‘pay tsar’ takes hard line on AIG
FT Alphaville —
Kenneth Feinberg, the Obama administration’s “pay tsar”, has signalled a tough stance on executive pay at AIG, the state-controlled insurer that sparked outrage over bonus payments earlier this year. Feinberg has raised concerns inside and outside AIG by asking the company to alter some pay plans – triggering fears that a crackdown could prompt the departure of key AIG executives, further harming the company’s prospects and chances of repaying public funds.
The Problem With Financial Services Compensation (AIG/Pay Czar Edition)
naked capitalism —
... The Financial Times reports that the so-called pay czar Kenneth Feinberg, who is in charge of overseeing compensation at TARP recipients, is going to crack down on some of the bonuses paid at AIG: ...
AIG In A Fighting Mood
Dealbreaker —
... so, and if you think people at AIG won't hit one of those many bids away on the job front, you're living in a different reality.
"It's counterproductive," one AIG insider said. "To have their pay curtailed below market levels is going to prompt some of them to leave."
So be careful Mr. Feinberg. You run the risk of chasing people concerned with short-term compensation issues out of AIG. You wouldn't want to do that now, would you?
US pay tsar gets tough over AIG packages [FT]
...
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The Problem With Financial Services Compensation (AIG/Pay Czar Edition)
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What to ask AIG
alephblog.com 5/12/2009 — The Committee on Oversight and Government Reform has asked Ed Liddy and the AIG trustees to testify Wednesday. Here are the questions that I would ask, given my recent piece on AIG .
Are you going to be able to use all of your deferred tax assets? What level of sustained profitability ...
AIG to pay more executive bonuses July 15: source
reuters.com 7/10/2009 — WASHINGTON/NEW YORK (Reuters) - American International Group is preparing to pay next week millions of dollars more in bonuses to dozens of corporate executives, a source familiar with the development said. AIG has been talking with Washington's ...
AIG: Blame the negative publicity…
footnoted.org 5/8/2009 — Journalists really can’t catch a break. The daily tales of more layoffs , unpaid furloughs and magazine closings (including Portfolio, which ran a monthly footnoted column). But now there’s this: those darn journalists are responsible ...
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The Economist: Full print edition 10/15/2009
JPMorgan Chase, America’s second-biggest bank, announced profits of $3.59 billion in the third quarter of this year, helped by earnings from its investment-banking activities. The bank has set aside $8.79 billion to cover pay, bonuses and other ...
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