AIG exec resigns over pay limits

[Jan Folkson]

We can't start missin ya till you're gone.

http://www.reuters.com/article/idUSN3022990420091231

[Jon C]

you know the drill... door ... ass... on the way out ... bye bye.

[jaydub69]

I'd take the job for half the amount.

[schmidlin]

IBTL

[kovachian]

Can't blame her. How is anyone supposed to feed their children for a piddly half a million a year?! Might as well crap in one hand, pee in the other, and see which one fills up first.

[splatt]

i wish the article had actually stated her original salary,
and the nature of the cut.
anyways, w/that kind of severance pay,
she could retire.
so long as she doesn't invest her money in AIG, of course.

dt / spltrcl

[jcmark611]

How does her pay compared to other HR Heads at companies the size of AIG? That would be an important fact to put in this story.

[Trandy]

$2.8 million in her severance package?

If I had that sort of severance package I would never have to work again.

[devilrob1979]

Originally Posted by Trandy

$2.8 million in her severance package?

If I had that sort of severance package I would never have to work again.

6 percent return taxed as capital gains? Yeah I could do that.

[aeolian]

Those CDS's were the house of cards foundation that more and more I feel like were always intended to default. The folks holding them figured they could invent another golden goose and could care less if they killed this one, and everyone else down the line.

I really believe the whole lot ought to be brought up on racketeering. They managed to make the finagle legal at the time they did it, but in hindsight it was a highly leveraged ponzi scheme. With massive payouts to folks who took no more risk than to push the house of cards over. The anti-racketeering laws are probably the only things that could go back and call this shell game for what it was.

[nitehawk55]

I would love to see them disallow her severance pay on the terms that she "quit" her job.....to me it's totally wrong and probably the reason she did quit just to get that $2.8M windfall and retire .
This is what she should get.......

[coldfingaz]

Originally Posted by nitehawk55

I would love to see them disallow her severance pay on the terms that she "quit" her job.....to me it's totally wrong and probably the reason she did quit just to get that $2.8M windfall and retire .
This is what she should get.......

Unfortunately, that's petty cash compared to what a lot of CEO's have been taking home during the past 10- 15 years as they drove companies into the ground after a year or 2 of work.

[travisvwright]

Why all the hate towards Human Resources? This lady didn't invent CDSs. Blind fools see AIG and assume. Think people, don't just have the emotional response they are trying for.

[FenderBigot]

Here's the catch... that $500K was the "cash" compensation. There are other elements of comp to top level execs in these companies... stock, retirement contributions, perks etc etc. In the end she's probably walking away from close to $800+K a year or more. I'd call her a dumb bitch, but she's taking a $2.8M severance... I could retire off that.

[drgonzoguitar]

Originally Posted by splatt

i wish the article had actually stated her original salary,
and the nature of the cut.
anyways, w/that kind of severance pay,
she could retire.
so long as she doesn't invest her money in AIG, of course.

dt / spltrcl