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Originally Posted by KSig RC
The thing is, these "bonuses" are usually a guaranteed part of compensation in firms like these - usually with a "bonus minimum" with the ability to go above that due to earnings.
This isn't a "reward" - even if the guys sucked, this is how it works in that field.
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Hank Greenberg the former AIG CEO, was on the Early Show this morning. He said AIG did not have retention bonuses when he was CEO. He said bonuses were a reward for performance.
If things have changed the that shows what idiots are running AIG.
Who gives bonuses to someone that sucked at their job? Their arguement is, they have to give retention bonuses or the execs will leave. If they sucked then who cares if they leave? Where are they going to go, Bear Stearns, Lehman, Merril Lynch or maybe Enron?