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How do you make companies like AIG accoutable?
With an 80% interest in the company you handcuff the Board which refuses to listen to comments that companies on the bailout plan should not be giving bonuses right now to anyone. What do you think?
4 Answers
- KoshLv 51 decade agoFavorite Answer
boomn4x4, why do you feel ANY of these execs EARNED bonuses?
Seriously, now... you may make the argument they should stay on; but earn bonuses they did NOT. You should only get a bonus when you make money for the company. Either they weren't able to make money for the company (due to lack of power) or they LOST money for the company. At any rate, NO BONUSES.
Also, how do you discern the "good" execs from the bad? It may be harsh to clear out the top but sometimes, that's what has to be done.
This also applies to the OP's question, too:
I believe the only way is to wipe the top executives out of the company or bury them in a sub-corp which cannot succeed, let it fail, and voila - no bonuses.
We need to clean house. Shareholders have the power. Also so does America. If they refuse to do business until ALL upper management has been replaced, they'll be forced to comply.
Americans have always had the power. They just haven't been aware of it and have not been exercising it.
CLEAN HOUSE AT AIG!!!!
- Anonymous1 decade ago
I think its a terrible idea....There are a ton of executives and each of them have specific responsiblities... why should you punish the executives who do a good job, for the executives that do a bad job?
Say for example the Cheif Information Officer implemented a computer package that profited the company 2 billion dollars. And the Cheif Advertising Officer implemeted an add campaign that increased sales 2 billion dollors from last year. Then there is the Cheif Financial Officer who made a financing mistake that cost the company 6 billion dollars......
Is it right to say that the CIO and CAO shouldn't get the bonus that was contractually promised to them if they preformed well when they did exactly what they said they were going to do?
What if you accepted a job and your salary was contracted to be $100,000 and you were to be given a $500,000 bounus if you increased sales in your department by 50%. At the end of the year, you increased sales in your department by 100%, but you were told that you can't have your bonus because sales in another department dropped by 50%?
Its WRONG..... The good executives will quit and go find a job that will pay them their earned bonus... and the bad executives will stick around because they know they won't be able to get a job anywhere else.... You end up with a failing company losing their good talent, and keeping their bad talent.
Give the Executives that rightfully earned the bonus their bonus... and get rid of the ones that didn't earn their bonus... and offer the bonus incentive to someone else.
- 1 decade ago
HAHA EVERYONE IS WRONG .....WE AS THE COUNTRY HAVE A (FEDERAL RESERVE THAT CONTROLS ALL OF OUR MONEY BUT HAS "NOTHING TO DO WITH THE GOVERNMENT" OUR MONEY IS FAKE BACKED BY NOTHING,..... ITS A BANK OWNED BY FOUR OF THE RICHEST FAMILY IN THE WORLD )... LOOK IT UP IF YOU DON'T BELIEVE ME OKAY LETS START YOU GIVE TAX PAYERS MONEY THAT THEY PAY INTREST ON........ THEN THEY GIVE IT TO "AIG" RIGHT THEN CONGRESS TAXES AIG AND WHERE DOES IT GO TO FEDERAL RESERVE RIGHT..... NOT BACK TO THE TAX PAYER OR DEDUCTED FROM THE LOAN SO WHO IS GETTING TAXED DOUBLE ...... BINGO YOU ARE.... I LET YOU BORROW MONEY AT INTEREST THEN YOU GIVE IT TO MY FRIEND WHICH THEN I TAX HIM 90% AND GUESS WHAT YOU STILL OWE ME THAT MONEY I GAVE TO YOU....... WE ARE SORRY TO SAY CONTROLED LIKE PUPPETS
LOOK OUTSIDE THE BOX
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- 1 decade ago
Easty don't bail them out. Let them fail. They can have fun putting guns to their heads and living on the streets for their greed.