American International Group plans to pay out $503 million in deferred compensation to some of its top employees, saying it must tap the funds to keep valuable workers from exiting the troubled insurance giant. Full Story »
Posted by Kelly Garrett
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Sourcing was a major disappointment in this story. Too much input from the AIG spokesperson. This story told me what I needed to know, but seemed to cut off way early.
The story rings some alarm bells and motivates looking for more information on the payouts, though the article is short on details and any actions being taken or contemplated to limit the bloodletting from the dying patient. No mention is made of where these executives would go to do better in the current financial meltdown. The Enron parallel is interesting.
Are the corporations too big to fail? Are the executives too wonderful to let go? How did we reach this point, and how do we navigate out?
This story should be titled: "How We're Squandering Taxpayer Money." and comes under the heading of a puff piece using as research, quotes from an AIG spokesperson. Pretty shoddy stuff for the Washington Post. After offering the usual "why -we're-not-doing-what-we're-supposed-to be-doing" excuses so currently in vogue, the article just quits.
In convincing a reluctant congress the $700 billion was absolutely essential to save the economy, Bush and his Secretary of the Treasury were overly ... More »
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