Friday, March 20, 2009

Greenberg and AIG Bonuses
I just saw this article about former AIG head Hank Greenberg's interview on the CBS Morning Show. From the interview:
Former AIG chief executive officer Hank Greenberg said the company under his leadership never had the kind of retention bonus system that has subjected it to withering criticism.

"When I was there, nobody had a contract with the company, including me," Greenberg said in a nationally broadcast interview Friday. "If you didn't do the job, you didn't deserve to be there. We had a bonus plan based on performance."

I said in my previous post that those retention, guaranteed bonuses would not have happened under Greenberg.

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