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Author Topic: Fascinating NYT OP-ED "AIG - I Quit"  (Read 1656 times)

Offline Sweeper

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Fascinating NYT OP-ED "AIG - I Quit"
« on: March 25, 2009, 08:48:15 AM »
http://www.nytimes.com/2009/03/25/opinion/25desantis.html?_r=1

I was wondering why Liddy stays on at AIG. He wasn't there for the meltdown, and is being paid $1 per year. He has to sit in front of crooks and charlatans while they question his integrity. Seems like the worst job in the world.

This opinion piece, in my opinion, is brilliant. I especially like the part of donating to charity instead of giving it to the government.

Offline bstewart

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Re: Fascinating NYT OP-ED "AIG - I Quit"
« Reply #1 on: March 25, 2009, 09:11:15 AM »
I was wondering why Liddy stays on at AIG. He wasn't there for the meltdown, and is being paid $1 per year. He has to sit in front of crooks and charlatans while they question his integrity. Seems like the worst job in the world.
Probably he feels it's a job worth doing, and he is uniquely placed to do it.

Offline mcgowan

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Re: Fascinating NYT OP-ED "AIG - I Quit"
« Reply #2 on: March 25, 2009, 09:31:42 AM »
I would expect he is thinking long(er) term and the millions he will make once AIG is back in the black.
-Chris

Offline TRX

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Re: Fascinating NYT OP-ED "AIG - I Quit"
« Reply #3 on: March 25, 2009, 10:16:30 AM »
In the past, high level compensation at AIG would be for millions not including salary. - See their Proxy.
Worth more if the stock would gain.

The letter highlights in part that at a company 99 out of 100 employees may be bringing a profit. But there is a great danger if 1 out of 100 could bring losses wiping out all profits.


My hope is that more companies would soon be able to return money back to the Feds.
Private companies should be diligent when considering compensation. And I wish more would have Say on Pay for shareholders, even if not binding.


Life, Liberty, Happiness (pursuit of) and pasta

Offline Billz1981

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Re: Fascinating NYT OP-ED "AIG - I Quit"
« Reply #4 on: March 25, 2009, 06:08:38 PM »
This op-ed is also a great defense of property rights, at least in subtext.  At the point congress starts messing with contracts (whether they like the contracts or not), what other overreaches will they engineer?  And by what right can they take away compensation paid to foreign nationals?  50 some odd percent of the AIG bonuses went to people who do not work or live in the U.S.  I'm really glad that this guy took this silly notion of "publicly shaming" people who were paid due compensation.

Of course, if the Employee Free Choice Act passes, congress will essentially control the work rules for all American businesses anyhow.  So I guess this is all moot.

Offline essen

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Re: Fascinating NYT OP-ED "AIG - I Quit"
« Reply #5 on: March 25, 2009, 06:51:20 PM »
If you want to be depressed, read the comments section in response to this thing at the Huffington Post: http://www.huffingtonpost.com/2009/03/25/aig-resignation-letter-in_n_178892.html

For the record, I used to read comments sections on conservative news sites to get depressed while Bush was president. I had to convince myself that these people were all either professional interference runners or something like the Upright Citizens Brigade:
"Our only enemy is the status quo. Our only friend is chaos."

Offline edava

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Re: Fascinating NYT OP-ED "AIG - I Quit"
« Reply #6 on: March 25, 2009, 10:06:14 PM »
Started and then had to stop. There's only so much insanity I'm in the mood for these days.

Offline Billz1981

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Re: Fascinating NYT OP-ED "AIG - I Quit"
« Reply #7 on: March 25, 2009, 11:26:03 PM »
Started and then had to stop. There's only so much insanity I'm in the mood for these days.

Wow, that is a lot of collective ignorance.  The problem is that the congress is responding to those kinds of sentiments.

Offline Billz1981

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Re: Fascinating NYT OP-ED "AIG - I Quit"
« Reply #8 on: March 26, 2009, 01:33:03 AM »
Wow, that is a lot of collective ignorance.  The problem is that the congress is responding to those kinds of sentiments.

Clarification: In response to the hive mind at Huffington Post, not Edava's individual wisdom.  :-)

Offline edava

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Re: Fascinating NYT OP-ED "AIG - I Quit"
« Reply #9 on: March 26, 2009, 12:47:19 PM »
I got that...that wasn't me nedding you.


 

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