Jamesb101.com

commentary on Politics and a little bit of everything else

Ex-AIG employees want their full bonuses restored and may go to court…….

The Dog called this one from the jump……

If your employer promises you a lot of money …he should pay it…..

While I understand the media and then the politicians leaned on the management of AIG…( the company is now 80% owned by the taxpayers )……

The former employees had a deal……

AIG is holding back $21 million from retention bonuses for current and former employees of its Financial Products unit. That unit nearly caused the insurer’s collapse in September 2008.

The insurer is asking former employees who are eligible for the payout what they earned after leaving AIG so it can reduce the retention bonus payments by that amount, said Gary Phelan, a partner at law firm Outten & Golden, which represents eight current and former employees.

“They have asked them a series of questions, explaining that this is part of their due diligence,” Phelan said. “But those same questions have been asked and answered before already.

“They’ve had several months to determine whether or not any payment should be offset,” Phelan said. “Unless there’s a very quick payment made of the balance, 25 percent, I think [a lawsuit] is inevitable.”

Andrew Goodstadt, a partner at Thompson Wigdor & Gilly, which is representing about a dozen current and former employees, said they were also considering all options.

AIG declined to comment.

More…….

March 16, 2010 Posted by | Breaking News, Government, Law, Media, Other Things, PoliticalDog Calls, Politics, The Economy, Updates | , , , | 10 Comments

A year ago with Geithner, Paulson and Bernanake…and the bottom dropping out….

This piece reminds of how bad things where last year….and I’m no mind reader…but before it’s over …you’re gonna find all three of the guys above finger prints all over AIG, Bank of America….and whole lot of other places trying to keep the system from falling apart….it ain’t gonna be pretty…and some of it ain’t gonna seem kosher…..but we do have mild recovery on tarc…not a depression……

There is that to consider while you see the media roast these guys a year after the fact.………

I’m not making excuses…but one should remember the atmosphere, in which, these guys operated in during that time……..

The age old question……..’The ends and the means’….

January 8, 2010 Posted by | Government, Law, Media, Men, PoliticalDog Calls, Politics, The Economy | , , , , , , | 5 Comments

AIG bonus return pledges don't pan out……..

Why am I not surprised with this follow-up developmenet?

I posted on this when the story came out…..

This is a capitalist society…..

December 23, 2009 Posted by | Government, Law, Media, Politics, The Economy | , | 2 Comments

AIG bonus return pledges don’t pan out……..

Why am I not surprised with this follow-up developmenet?

I posted on this when the story came out…..

This is a capitalist society…..

December 23, 2009 Posted by | Government, Law, Media, Politics, The Economy | , | 2 Comments

Dispatches for today………Richardson, Corzine, AIG and Dukakis……

1)   The case against Gov. Richardson of  New Mexico has been dropped………..

2)  Two polls put Corzine within the MOE in New Jersey…….

3)  AIG shares reached $50.00 on Thursday………..and the CEO has decided to slow down selling off the companies foreign units….

4) Dukakis for caretaker in Mass.?

August 27, 2009 Posted by | Breaking News, Politics, The Economy | , , , , , , , | Leave a comment

AIG and Breakstone both post profits……..

AIG, the ailing insurance giant that you and me bailed out, along with Warren Buffets’ Breakstone Corp have posted profits, folks……..with the market coming back, expect more of this…..just one thing…..We all expect the government to make its money and interest back from the AIG’s and banks that got loans………

August 10, 2009 Posted by | Politics, The Economy | , , , , , , , | Leave a comment