About those bonuses March 17, 2009
reading this:
http://www.nytimes.com/2009/03/18/business/18cuomo.html?hp
I would like to retract my last post.
Obama Trying to Block AIG Bonuses March 16, 2009
I’ve been a big Obama supporter from day one. However today’s headline made me concerned that there may be some political posturing going on here.
While I’m sure some of the bonuses are warrantless or excessive, I’d be willing to bet that a large number of them are modest in size. When bonuses are discussed in the media with regards to Banks and larger firms attention is rightly paid to the hefty, million-dollars-and-up variety that senior executives receive. However, if you look at the firms closely, you’ll find more modest bonuses in the 20K and less variety going towards “cost centres’ like information technology.
I’m concerned that Obama’s initiative to block bonuses will not succeed in slashing the excessive pay-outs to executives, but will instead eliminate the performance-based compensation for more middle class workers.
http://www.nytimes.com/2009/03/17/us/politics/17obama.html?_r=1&hp