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the winnipeg sandbox » winnipeg sandbox.. » international... » Who Should Get Bonus'- AIG or Alberta Civil Servants

Who Should Get Bonus'- AIG or Alberta Civil Servants

5 posters

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rosencrentz

rosencrentz
uber-contributor
uber-contributor

http://www.nationalpost.com/news/story.html?id=1401578

You have to love when civil servants decide on their own bonus, whether in the US or in Canada, the system stinks to high heaven.
I can understand when a bonus is paid out based on sales as was done in the US for selling fraudulent mortgages. That is the American way, but civil servants getting 33% bonus based on what?

http://www.elansofas.com

Deank

Deank
contributor eminence
contributor eminence

the part of the story they are missing is.. how much are they saving by coming in under budget? How often were the departments over budget prior to this being implemented and how much was spent?

rosencrentz

rosencrentz
uber-contributor
uber-contributor

DeanK- stop it with the common sense approach, it isn't appreciated!
This forum is for serious posters only!!

http://www.elansofas.com

Guest

Anonymous
Guest

Neither should be given bonuses!

The Alberta government is crazy for doing so...it's absurd.

Bonus payouts have steadily grown in recent years, including those to senior officials in the premier's office, at the same time overall government spending has increased at double-digit rates and departments have regularly exceeded their budget targets.
Regarding AIG, Obama is taking justly deserved flack for not knowing this was going to happen before they gave them bail-out money.

I hope they get the money back from the people that it was given to, and not just adjust some numbers to make it look like AIG had the amount deducted from their bail-out money.

Deank

Deank
contributor eminence
contributor eminence

The part I think everyone is overlooking in the AIG bonuses...The amount of the bonus is simply their pay once again. ie in other words these guys were all making over 1 million per year already for doing thier crap job.

Guest

Anonymous
Guest

AIG promised them these bonuses and they were initially saying that they were legally bound to honour them.

However, GM rejigged their contracts and so could have AIG and the Government, they are now saying. Whomever set up the bail out should be fired I say. Wink

Guest

Anonymous
Guest

Yes they are now getting the CEO to assure congress he will try to get them back , right .

rosencrentz

rosencrentz
uber-contributor
uber-contributor

It looks like some AIG executives are willing to return thier bonus money, in the wake of all this "outrage". lol

http://www.elansofas.com

rosencrentz

rosencrentz
uber-contributor
uber-contributor

" AIG made more than 73 millionaires in the unit which lost so much money that it brought the firm to its knees, forcing a taxpayer bailout". "something is deeply wrong with the outcome"
What an incredible system of rewards for bad behaviour!
http://www.theglobeandmail.com/servlet/story/LAC.20090318.RAIG18/TPStory/?query=barrie+McKenna

http://www.elansofas.com

Guest

Anonymous
Guest

This is the un fetterd system some push for and good old GREED . This is was and can be made to never happen again , get back to many companies that are real competition to one another. Not one big one who owns enough, or all of them .

The good old greed system let all of the world down .

Guest

Anonymous
Guest

I wonder what actual value these people are to the overall economy...just what did they do to deserve these salaries, probably commissions, never mind the bonuses....seems apparent that they did nothing.

Pretty fcuked up world we live in eh?

Guest

Anonymous
Guest

Yes you do wonder how much they are needed, in the office .

Triniman

Triniman
general-contributor
general-contributor

Sometimes in the private sector, you get rewarded handsomely when maybe you shouldn't! However, if the gov't wasn't involved, the market would fix itself accordingly, eventually.
Civil servants shouldn't get bonuses. Period.

Guest

Anonymous
Guest

Their work amounted to nothing more than switching money from one account to another and taking hefty commissions for doing so...and that is not sustainable.

grumpy old man

grumpy old man
administrator
administrator

That well explains our current economic state eh?

The AIG bigwigs clearly did not think this one through. The CEO squirmed mightily at the senate hearing. Some of those 73 millionaires have returned the bonus. Others have offered to return part. The CEO is going to ask all of them to.

I'd keep my bonus. What would YOU do?

rosencrentz

rosencrentz
uber-contributor
uber-contributor

Usually bonus' is tied into making profits for a company. In AIG case bonus was given because they devised a scheme in which they sold an insurance package that was all profit, because they forgot to open a division that would pay out claims! They actually were brilliant! Keep all insurance charges and have the government pay all the claims!
Maybe they should keep the bonus' money??

http://www.elansofas.com

AGEsAces

AGEsAces
moderator
moderator

Does this mean there won't be any more Apples & Oranges commercials? Sad

http://www.photage.ca

Guest

Anonymous
Guest

Give it back and quit from such a shoddy organisation .

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the winnipeg sandbox » winnipeg sandbox.. » international... » Who Should Get Bonus'- AIG or Alberta Civil Servants

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