Wednesday, March 18, 2009

"Retention" Bonus My Ass


The bonuses that the American International Group awarded last week were paid to 418 employees and included $33.6 million for 52 people who have left the failed insurance conglomerate, according to the office of the New York attorney general.
(Emphasis added).
I'm betting Ed Liddy's explanation will sound something like: "AIG is contractually obligated to award retention bonuses regardless of whether or not we actually retain an employee."