On Mar 20, 2009, at 3:48 PM, ravi wrote:
This one is a hilarious read:
http://www.nytimes.com/2009/03/20/nyregion/20siege.html?partner=rss&emc=rss
And ends with a tear-inducing view into the misunderstood suffering
millionaire's life:
The largest single bonus check, for $6.4 million, went to Douglas L.
Poling, an executivevice president for energy and infrastructure
investments. Mark Herr, an A.I.G. spokesman, said Mr. Poling had
told him he was returning the bonus “because he thought it was the
correct thing to do.”
Gerry Pasciucco, a former vice chairman of Morgan Stanley who was
brought in by Mr. Liddy in November to wind down the financial
products unit, said Mr. Poling had sold off roughly 80 percent of
the unit’s assets. Mr. Pasciucco said the money from the sales would
go to the government, which has handed more than $170 billion in
bailout money to A.I.G. in the last six months.
“He’s done an outstanding job in winding down his investment books,”
Mr. Pasciucco said. "He did it at the right time, and we’ve made
money. We would be losing money today if we waited to sell some of
these assets."
Mr. Poling’s father, Harold A. Poling, retired as the chief
executive of Ford Motor Company in 1994. On Thursday, Cheryle
Campbell answered the phone at Harold Poling’s house in Bloomfield,
Mich., where she said she had worked as a housekeeper for 20 years.
She said she was not surprised to hear that Douglas Poling had
decided to give back his bonus. “You’d think, being in the kind of
job he is, that he’d be one of those sharks,” she said. “But he’s
not at all.”
Douglas Poling has lived in the same house on a dead-end street in
Fairfield for 11 years. The local papers say that he and his wife
have given generously to a homeless shelter, to the Westport Country
Playhouse and the Fairfield Country Day School, a boys’ prep school
where tuition runs as high as $29,300 a year.
But on Thursday, his house, like Mr. Haas’s, was being watched by
private security guards.
--ravi
--
Support something better than yourself ;-)
PeTA => http://peta.org/
Greenpeace => http://greenpeace.org/
If you have nothing better to read: http://platosbeard.org/
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