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FinancialYoung Blog
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August 19, 2009AIG is back at it again; handing out large salaries to their CEO. It has just been reported that AIG’s CEO has been given a $7 million annual salary. You remember AIG, don’t you? They are that little company that use to be a big one; a really really big one. They are the ones who borrowed almost $200 Billion (that’s one million, 2000 times) from you and me the tax-payer to stay alive. They are the ones who have fallen behind on their payments to pay us back. Yet they still find it in themselves somewhere to pay their CEO $7 million annually, and offer a potential bonus of another $3.5 million. We as a society are almost becoming numb to the fact that companies that should have failed (and that is a debatable topic for another day) are now back to their old ways of paying executives large salaries. I see both sides of the argument. One camp will say, “AIG took tax-payer money and executives should not be compensated for near bankruptcy results.” The other camp will argue, “In order to retain and attract the best talent to help our hurting company we need to offer incentives to get them to come here and stay.” You decide which side of the argument you’re on and if you have a problem with AIG, write them and tell them about it; here is their address: 70 Pine Street New York, NY 10270.
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