Wednesday, November 11, 2009

$10.5 Million Too Low For AIG CEO

LAST YEAR AIG EXECUTIVES COCKED THINGS UP so badly that the US government had to pony up $182.5 billion dollars to keep the insurance giant from going tits up. Apparently some thing that's no reason to pay AIG executives any less. Sheesh, how's a CEO expected to live on $10.5 million? Well, obviously, it's unreasonable and that's why Robert Benmosche has told the AIG Board of Directors that they can "take this job and shove it!"
The Wall Street Journal reported online late Tuesday that Benmosche told AIG's board he was "done" with the job, although he reportedly is reconsidering his stance in the face of the board's dismay.
Remind me again, do these guys live on the same planet as the rest of us? I worked as a waiter for a long time at many restaurants and if someone walked out without paying, I had to cover their bill. How come these guys lose an amount of money greater than most countries' GDP and they gripe about taking a pay cut that brings them down to the GDP of a small city?
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