Jump to content

Orwell's Newspeak: retention bonus for AIG execs.


Jerry
 Share

Recommended Posts

From testimony before Congress today in D.C. it seems the term 'retention bonus' is actually a short version of: golden parachutes.

 

Execs. received contracts for a comfortable life after severence from AIG insurance group. The bonus was like a signing bonus given to athletes -- in return for loyalty to the team, not going elsewhere to play -- the exec. gets the bonus money regardless of how the team fares, even if it ends up in last place.

 

So retention bonus can not only mean 'to keep the player on the team', it can also mean to reward the player choosing retirement, no matter what.

Link to comment
Share on other sites

Heard an interesting arguement on the News, these demics got us into this mess with complex financial constructs; and it's quite possible, that they are the only folk capable of undoing THEIR mistakes, a fresh team may not be able to make head nor tail of the mess. :roll::shock::twisted:

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

×
×
  • Create New...