naked capitalism: AIG Plans to Pay Retention Bonuses to Executives
Maybe I am getting cynical but this really didnt shock me in the slightest.
How can you give cash compensation to an executive, yet claim it is not a salary or bonus? You call it a "retention bonus," No, I am not making this up.
Note that AIG chose to make this disclosure the day before Thanksgiving, clearly choosing a time when it would attract the least notice. Not that it really matters. The talk about restricting executive compensation to bailout recipients has been just that, talk.
Maybe I am getting cynical but this really didnt shock me in the slightest.
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