Sniff...AIG Exec's Gonna Quit

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Registered: 03-26-2003
Sniff...AIG Exec's Gonna Quit
3
Wed, 11-11-2009 - 9:28am

AIG chief threatened to leave over pay constraints: reportReuters







Wed Nov 11, 6:03 am ET


(Reuters) – Unhappy over constraints imposed by U.S. government overseers, American International Group Inc (AIG.N) Chief Executive Robert Benmosche told the company's board last week that he is considering stepping down, the Wall Street Journal said, citing people familiar with the matter.


The giant insurer's chief executive is particularly unhappy over a recent compensation review by Kenneth Feinberg, the Treasury bailout program's special master for compensation, the paper said, citing the people.


Benmosche told AIG directors that he was "done" but agreed to think it over when they reacted with shock, the people told the paper.


AIG could not be immediately reached for comment by Reuters outside regular U.S. business hours.


AIG, which has received up to $180 billion of federal aid, including more than $80 billion in loans, and is now 80 percent-owned by U.S. taxpayers, posted its second straight quarterly profit last week, helped by a recovery in the value of its investments.


(Reporting by Ajay Kamalakaran in Bangalore; Editing by Valerie Lee)


Poor little guy makes ten and half million a year.

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Registered: 03-18-2000
Wed, 11-11-2009 - 9:50am

Makes me sick.

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Registered: 10-28-2009
Wed, 11-11-2009 - 9:50am
Yeah, not feeling one little bit sorry for him.
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Registered: 02-20-2007
Fri, 11-13-2009 - 11:14am

I began to well up at one point right after hearing the news......poor bastard. I'll bet many folks who have lost their jobs and homes the past year have little symapathy for he and his family.