Woody Posted March 17, 2009 Share Posted March 17, 2009 Perhaps they should follow the Grassley Approach. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Dr. Shane Posted March 17, 2009 Share Posted March 17, 2009 I worked with a guy once that used his bonuses to make his house payment. He would put each bonus in the bank and just draw out enough for his house payment each month. A lot of people live on these bonuses and taking away their bonuses will mean they lose their homes, take their kids out of church school or stop paying for their kids' college. A lot of people give a lot of their bonuses to charity too. Those sick green with envy really don't know much about executive pay and bonuses. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
Woody Posted March 17, 2009 Share Posted March 17, 2009 Sad but true ... Thanks CoA Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Woody Posted March 17, 2009 Share Posted March 17, 2009 Need I mention WHO got the most contributions from AIG to their campaigns during the elections? Chris Dodd ... yes. Does that name sound familiar? And Barack Obama ... Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
carolaa Posted March 18, 2009 Share Posted March 18, 2009 Those sick green with envy really don't know much about executive pay and bonuses. I am not sick green with envy. But I object to taxpayers paying for their bonuses. That really stinks. If the company is doing so badly that they can't pay their employees, then let it sink. Quote Link to comment Share on other sites More sharing options...
Members phkrause Posted March 18, 2009 Members Share Posted March 18, 2009 Was watching the proceedings today, it seems pretty obvious to me that none of these guys deserved a bonus. Like one of the congressman was saying or asking aren't bonuses given if you've done a good job. Since when do people get bonuses when your company is going under??????? And one congressman was asking if any of the millions of unemployed can do the job and Liddy had to say yes. Pretty interesting proceedings that for sure. pk Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Woody Posted March 18, 2009 Share Posted March 18, 2009 I feel that those who got bonuses should give them back. But, if they are going to do that ... an example from the top is needed. Obama should be the first to return the bonuses from AIG. Yes, Obama got some of the bonuses. He was given the second most contributions for the campaign. SO, he needs to lead by example. AIG could not afford the bonuses that they gave to Obama ... so he needs to give it back. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Members phkrause Posted March 18, 2009 Members Share Posted March 18, 2009 I heard Redwood that a number of the guys that got bonuses have already said they would give them back. And after the proceedings today more have come forward and said they would also give them back. pk Quote phkrause By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1} Link to comment Share on other sites More sharing options...
Woody Posted March 18, 2009 Share Posted March 18, 2009 Well then ... Obama needs to get on board and give back his money. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
carolaa Posted March 18, 2009 Share Posted March 18, 2009 I agree that would be quite a statement if Obama would do that. However, it's not quite the same situation we have here. The money given to Obama went to his campaign fund, I'm sure, and not to him personally. But I can see some light in what you are saying. It would be a huge statement. Quote Link to comment Share on other sites More sharing options...
Dr. Shane Posted March 19, 2009 Share Posted March 19, 2009 The board hires someone to turn their company around... Nope. The guy running AIG right now was hired by the government, not the Board of Directors. As if the government knows better. LOL Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
Dr. Shane Posted March 19, 2009 Share Posted March 19, 2009 If the board knows so much, than why the failure? Either the board failed or its employees! No. Let's talk about the Federal Reserve driving interest rates into the ground. Let's talk about the Community Investment Act sparking the sub-prime mortgage mess. If these AIG guys were so bad why aren't they going to jail? Maybe because they were playing by the rules that the Washington politicians made. The same politicians that now want us to trust them. LOL Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
Dr. Shane Posted March 19, 2009 Share Posted March 19, 2009 Originally Posted By: Shane Those sick green with envy really don't know much about executive pay and bonuses. I am not sick green with envy. But I object to taxpayers paying for their bonuses. That really stinks. If the company is doing so badly that they can't pay their employees, then let it sink. Let's keep it straight. One small department of AIG got caught up in this financial mess. The majority of AIG departments are profitable. Certainly their CEOs deserve their bonuses. Only a small number of CEOs working in the losing departments shouldn't get their bonuses. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
Woody Posted March 19, 2009 Share Posted March 19, 2009 All of this would have been solved if they had just let AIG go bankrupt. Then they would not have gotten their stinky bonuses. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Neil D Posted March 19, 2009 Share Posted March 19, 2009 All of this would have been solved if they had just let AIG go bankrupt. Then they would not have gotten their stinky bonuses. Let's see....banks would then have to make up the losses that they have incurred...and not just a few banks would also have collapsed. Then people who had money in some banks would have started asking money out of thier accounts which would have ccaused a run on the banks... ......and you think the ecomomy is bad now....... Quote Democracy is a device that ensures we shall be governed no better than we deserve. George Bernard Shaw Link to comment Share on other sites More sharing options...
Woody Posted March 19, 2009 Share Posted March 19, 2009 Well ... would would have saved millions by not having to pay them bonuses. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Woody Posted March 19, 2009 Share Posted March 19, 2009 And BTW ... Have you heard of REorganization? Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Moderators Jeannieb43 Posted March 19, 2009 Moderators Share Posted March 19, 2009 Yes. I heard Bernanke interviewed on TV [was it on 60 Minutes?? not sure]. He said he himself was angry at AIG for letting this thing happen. But because AIG is such a big operation, letting them go bankrupt was not an option, because it would have caused the world's financial system to collapse. [Not just America's.] But I understand Congress is now planning to enact a special law, a 91% income tax on those AIG bonuses. They'll get the government's money back from those AIG guys somehow, by hook or by crook! Quote Jeannie<br /><br /><br />...Change is inevitable; growth is optional.... Link to comment Share on other sites More sharing options...
Woody Posted March 19, 2009 Share Posted March 19, 2009 All I know for sure is that America is now more angry about this particular issue than I have ever seen them. And our representitives know it and must do something about it. We the people are revolting on this issue. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
carolaa Posted March 19, 2009 Share Posted March 19, 2009 If the bonuses were in their contracts, as Shane suggests, then your question is basically moot. Quote Link to comment Share on other sites More sharing options...
carolaa Posted March 19, 2009 Share Posted March 19, 2009 I never said if they deserved their bonuses or not. I just said I didn't approve of taxpayer money going to pay their bonuses. If the majority of AIG departments are profitable, how is it possible that this "one small department" would cause AIG to collapse and throw the entire world into financial ruin, as some have suggested? Quote Link to comment Share on other sites More sharing options...
Dr. Shane Posted March 19, 2009 Share Posted March 19, 2009 Because the one department lost more money than all the other departments combined produced. Think about it for a minute. If you run a business with 10 departments and 9 of the 10 are producing a profit but the 10th one is losing more than the 9 combined, would you give the CEOs in the 9 profit-producing departments their bonuses? It is only logical because we want to nourish the departments that are producing a profit. We want to clean house in the one department that is not producing a profit. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
carolaa Posted March 19, 2009 Share Posted March 19, 2009 I think if we'd let AIG go bankrupt, they could have gotten out of their contracts. I don't get it. Other companies drop benefits all the time. Quote Link to comment Share on other sites More sharing options...
Woody Posted March 19, 2009 Share Posted March 19, 2009 The Church is doing the same thing. Benefits for church employees are being cut. We all have to take a bite. AIG is not God. They can do without a few million. Bite the bullet AIG. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Neil D Posted March 19, 2009 Share Posted March 19, 2009 I think if we'd let AIG go bankrupt, they could have gotten out of their contracts. I don't get it. Other companies drop benefits all the time. Scenerio: AIG declares chapter 7, a bankruptcy and a reorganization....how will that affect the stock market? How will that affect banks? Do you know which portion of AIG will affect the economy? Do you know WHAT AIG does? If you do know what AIG does, then you know that there will be ripple effects within the economy that will have devestating consequences....Scuuse me...change "ripple effects" to Tsumami effects...You think the church is hurting now,...you will really see gapeing wounds if AIG goes under... Quote Democracy is a device that ensures we shall be governed no better than we deserve. George Bernard Shaw Link to comment Share on other sites More sharing options...
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