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Title: Welfare kings. Post by: MFAWG on March 14, 2009, 09:01:27 PM http://www.nytimes.com/2009/03/15/business/15AIG.html?_r=1&hp
Quote WASHINGTON — The American International Group, which has received more than $170 billion in taxpayer bailout money from the Treasury and Federal Reserve, plans to pay about $165 million in bonuses by Sunday to executives in the same business unit that brought the company to the brink of collapse last year. Title: Re: Welfare kings. Post by: gleek on March 14, 2009, 09:31:34 PM Quote But the bonuses will go forward because lawyers said the firm was contractually obligated to pay them. Shouldn't a "bonus" be tied to some measure of performance AND be awarded optionally? If it's "contractually obligated", then it's NOT a *goshdarn* bonus. They're trying to make it sound like money they were expected to receive, and if that's the case, they could do themselves a favor by not calling it a "bonus". They should be calling it "deferred compensation", if anything. |