Welfare Queen threatens to "Go Galt" (Full Version)

All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion



Message

AnimusRex -> Welfare Queen threatens to "Go Galt" (11/11/2009 12:05:13 AM)

http://online.wsj.com/article/SB125791145785743099.html

The head of AIG, bailed out by American taxpayers, threatens to quit. He has been supervising the corporation, telecommuting, while overseeing the wine production at his vineyard of his estate overlooking the Adriatic.
His reduced pay will amount to a mere $10.5 Million this year.



Where are the goddamn pitchforks and torches when you need them?



tazzygirl -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 2:46:37 AM)

Obama didnt fire enough CEO's.



Vendaval -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 2:51:09 AM)

Having a diva melt-down, is he?



tazzygirl -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 2:57:45 AM)

Fat chance of finding an Iacocca among this pack of self centered wolves.



Silence8 -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 3:31:28 AM)

Can you paste the full article? I don't subscribe.

The last (free) article I read off their website praised the wonders of insider trading...

If you read their material from the right angle, there's a lot to learn, actually. The WSJ is like the Phineas Gage of ideology.



DarkSteven -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 6:30:02 AM)

That's the amazing thing.  I keep hearing that if Wall Street firms don't pay competitively, their talent will leave.

Their talent is responsible for the worst screwup since the 1920s and damn near took down the entire country if not world.  And to think that seven figure incomes are competitive... they need to see what the world is like outside of the gated communities.



popeye1250 -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 12:02:16 PM)

Yeah, where's all this "Change" Obama promised us? Why are Taxpayers Dollars bailing out big corporations? "Meet the new boss, same as the old boss!"
One thing that should have been done is that any co that accepted Tarp money should have had to fire the top third of management.
You don't "reward" failure in capitalism.
And now they're going after *our money!*
Obama shouldn't be surrounding himself with Wall St insiders like Geithner either! What does he think they're going to do?
Their allegience lies with big corporations not with The People!
I've been more than open to giving Obama a chance but like many Americans I'm starting to think that he's going down the wrong road.
Now people are saying that, "Too big to fail is too big to exist."
I really don't think that lawyers make very good presidents. And that goes for Republicans as well as Democrats not since Lincoln anyway.
They're just not good managers.



Moonhead -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 12:52:43 PM)

He's scared that people will call him a communist if he does anything else, popeye.
I'm with Steven, myself. Receiving federal handouts should have been dependent on a lot of people getting fired, and blacklisted, which is something these firms do, even if none of them are willing to admit it.



Raiikun -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 1:54:49 PM)

quote:

ORIGINAL: tazzygirl

Obama didnt fire enough CEO's.


You realize this guy was only in the job for 3 months, long after the meltdown right?  What exactly do you think he should have been fired for?




Moonhead -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 2:16:52 PM)

Being a massively overpaid drama queen?



tazzygirl -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 4:01:07 PM)

Benmosche took over as CEO in August, replacing Edward Liddy, who was appointed CEO after the government bailed out the insurer in September 2008. Benmosche received a pay package from AIG valued at around $10.5 million for taking over as head of the insurer. The CEO's compensation deal was approved by Feinberg.

http://www.msnbc.msn.com/id/33854913/ns/business-us_business/

10.5 million isnt enough???? If he had come to me with that bs, i would have told him to hit the door. He knew what he was getting into.



MrRodgers -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 5:27:26 PM)

quote:

ORIGINAL: tazzygirl

Obama didnt fire enough CEO's.

Then they walk away with those golden retirement packages and...we make them golden.



tazzygirl -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 5:57:41 PM)

LOL... the rich keep getting richer and the poor keep getting screwed



Lucylastic -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 6:40:31 PM)

the music hall number:
"It's the rich wot gets the pleasure
It's the poor wot gets the blame
It's the same the whole world over
Ain't it all a bloody shame."

is always in my head



Hierodule -> RE: Welfare Queen threatens to "Go Galt" (11/11/2009 9:02:42 PM)

as my dear grandma used to say (god rest her) "good riddance to bad rubbish"



Raiikun -> RE: Welfare Queen threatens to "Go Galt" (11/12/2009 2:49:11 AM)

I love some of these people's ideas of "rubbish"...what qualifies him as such?  Because he makes more than you?

This is not one of the guys responsible for AIG's meltdown...he's one of the ones trying to pick up the pieces; he threatened to quit because he was frustrated at the Government's interference in making that happen.

quote:

  10.5 million isnt enough???? If he had come to me with that bs, i would have told him to hit the door. He knew what he was getting into.


Now where, pray tell, did he claim that "10.5 million isn't enough?"



tazzygirl -> RE: Welfare Queen threatens to "Go Galt" (11/12/2009 5:40:04 AM)

Benmosche announced his intentions in a letter to employees released by AIG following a report in The Wall Street Journal saying he was threatening to quit. The Journal said Benmosche has been frustrated by heavy government scrutiny and cumbersome restrictions on executive pay.

...

New York-based AIG received an aid package worth up to $180 billion from the government in exchange for an 80 percent stake in the company. That bailout package also includes restrictions on compensation for the insurer's 100 highest-paid employees.

Benmosche said he is in discussions about compensation packages with the Treasury Department and Kenneth Feinberg, who was appointed by the government to oversee pay packages for the seven companies that received the most bailout money.

Under the government's pay plan, cash salaries for the top 25 highest-paid executives will be limited in most cases to $500,000. The plan also calls for perks in most cases to be capped at $25,000.

"We are all working aggressively to overcome this compensation barrier that stands in the way of restoring AIG's value," Benmosche wrote in the letter.


http://www.msnbc.msn.com/id/33854913/ns/business-us_business/

It all comes down to money.



Raiikun -> RE: Welfare Queen threatens to "Go Galt" (11/12/2009 6:02:19 AM)

So where did he say 10.5 million wasn't enough?

This is a guy who had already retired years ago, and came out of retirement to fix AIG (And said the 10.5 million was on the low end of competitive for his position, but competitive).  His stated goal is to have people wowed at AIG's performance in a year.  One hindrance to that, from your link -

"Analysts have speculated that the restricted pay could drain talent at companies like AIG as talented employees take better paying jobs at companies without compensation caps."

So once again, when you went on the attack with

quote:

Original: Tazzygirl

10.5 million isnt enough???? If he had come to me with that bs, i would have told him to hit the door. He knew what he was getting into. 


it was without merit, as he did not "come to anyone with that bs".



tazzygirl -> RE: Welfare Queen threatens to "Go Galt" (11/12/2009 6:10:21 AM)

WHEN he took up this position, he knew about the restrictions. The income restrictions have been spoken about for longer than three months. to whine about it now seems alot hypocritical. As i said earlier, this was bs.. his way to try and force them to give up more money... wont work. He knew what he was getting into.



Raiikun -> RE: Welfare Queen threatens to "Go Galt" (11/12/2009 6:13:18 AM)

Umm, that's not what "hypocrisy" means...hypocrisy is to preach one thing while doing something else.

That said...his threatening to leave is simply due to being pulled out of retirement to try and turn AIG around, and getting fed up with the government interfering with that.  Yah, he probably should have been aware that working with the government would be a total pain in the ass.



Page: [1] 2 3 4   next >   >>

Valid CSS!




Collarchat.com © 2025
Terms of Service Privacy Policy Spam Policy
0.03125