I can see one business going under & being accused of bad management - take Enron for example. But they were one company in their industry and it was very clear that they "cooked the books". Everyone else in the same industry waded through the Enron crises without a problem.
AIG and the others are an entirely different situation. This is institution wide - affecting all large banks & most medium size banks. And because of this, you can hardly blame "bad management" of one institution for the problem. The experts already agree that the issue was caused by a fundamental change in the way the entire industry was run and managed and they probably won't be finished sorting out the details for years. Thanks, Tom Hargrave www.kegkits.com 256-656-1924 -----Original Message----- From: mercedes-boun...@okiebenz.com [mailto:mercedes-boun...@okiebenz.com] On Behalf Of John Freer Sent: Tuesday, March 17, 2009 4:05 PM To: Mercedes Discussion List Subject: Re: [MBZ] OT banned lite, Better not get hurt in war So, those who had Objectives and Goals to put AIG into a financial catastrophe felt around the world will be rewarded....those with Objectives and Goals to provide legal and moral income have failed and will go without. I get it now. Contracts mean nothing ...all around this great country there are employee layoffs and cutbacks even with contracts, going on right now. This AIG thing does not make any sense and we, as a stockholder in this corrupt company ought to be doing something about it. Hope the CEO of AIG follows in the path of Kenneth Lay. John On Tue, Mar 17, 2009 at 1:48 PM, Tom Hargrave <tharg...@hiwaay.net> wrote: > This does not change my argument or the point I was trying to make. I can > almost guarantee that the bonus plan was a CONTRACTUAL AGREEMENT between the > Company and those receiving bonuses. And legally, they may have had no > choice but to pay the bonuses providing the ones receiving the bonuses lived > up to their end of the deal - they met their goals. > > Thanks, > Tom Hargrave > www.kegkits.com > 256-656-1924 > > > -----Original Message----- > From: mercedes-boun...@okiebenz.com [mailto:mercedes-boun...@okiebenz.com] > On Behalf Of tyler > Sent: Tuesday, March 17, 2009 3:33 PM > To: Mercedes Discussion List > Subject: Re: [MBZ] OT banned lite, Better not get hurt in war > > If AIG chooses to accept bailouts from the federal government, doesn't > that give the government the right to set any conditions they want? The > bonuses may be fair and earned, but an organization that is at risk of > failing due to lack of funds can no longer afford non-essential costs > like bonuses if it wants to keep providing paychecks or employment at all. > > Tyler > > Tom Hargrave wrote: >> This issue 'came to head' with the AIG bonus payouts. I've worked for > salary >> as an upper level Manager and can tell you that bonuses are setup by >> contractually binding goals and paid based on performance to those goals. > In >> other words, the bonuses were due the recipient just like your weekly >> paycheck is due to you. >> >> 1. Do I like the fact that they received bonuses? No! >> >> 2. Are the bonuses fair? Yes - the bonuses were instituted (as they always >> are) to increase performance & make sure goals are met. I'm sure that some >> bonuses were even tied to cost cutting measures. >> >> 3. Did they earn their bonuses? Yes - see answer 2 above. >> >> 4. Should they keep their bonuses? Yes - see answer 2 above. >> >> >> So, when does the Government have the right to decide that profit, bonuses >> or pay in the private sector is excessive? How would you feel of the >> government decided that YOU were making too much money and gave YOU a 20% >> PAY CUT or TAX INCREASE? >> >> That's what they are trying to do to AIG! >> >> Thanks, >> Tom Hargrave >> www.kegkits.com >> 256-656-1924 > > _______________________________________ > http://www.okiebenz.com > For new and used parts go to www.okiebenz.com > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > > No virus found in this incoming message. > Checked by AVG. > Version: 7.5.557 / Virus Database: 270.11.16/2005 - Release Date: 3/16/2009 > 7:01 PM > > > No virus found in this outgoing message. > Checked by AVG. > Version: 7.5.557 / Virus Database: 270.11.16/2005 - Release Date: 3/16/2009 > 7:01 PM > > > > _______________________________________ > http://www.okiebenz.com > For new and used parts go to www.okiebenz.com > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > _______________________________________ http://www.okiebenz.com For new and used parts go to www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com No virus found in this incoming message. Checked by AVG. Version: 7.5.557 / Virus Database: 270.11.16/2005 - Release Date: 3/16/2009 7:01 PM No virus found in this outgoing message. Checked by AVG. Version: 7.5.557 / Virus Database: 270.11.16/2005 - Release Date: 3/16/2009 7:01 PM _______________________________________ http://www.okiebenz.com For new and used parts go to www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
