[quote][i]Originally posted by glokstadt[/i]
<br>[quote][i]Originally posted by drsevrin[/i]
<br>Forgive me Glok, but I don't follow. Is the NY company a subsidiary of the parent AIG? If so they should ultimately share the same balance sheet. I've searched this out but can find nothing but damning reports on how AIG blew all this money on resort charges just days after accepting bailout money. I'm sure there's something I'm missing, but I can't find it.
http://www.washingtonpost.com/wp-dyn/co ... 02604.html
Having said that, I work in upper management of a large US corporation and my bonus/perks are directly tied to corporate performance. My bonus is funded according to a tiered grid: 1. gross margin, 2. division performance, and 3. department performance. If all three elements do poorly, I stand to get virtually nothing. In contrast, it seems AIG execs get everything and more independent of corporate performance. This is what really galls people - performance is in no way tied to compensation. If my corporation was doing as poorly as AIG there is no way in hell I would be sent to a resort to run up a half-million dollar tab just having fun. Perhaps that's why my company is financially sound and in need of no taxpayer money. I tried and tried to find information to debunk this in the case of AIG but could not. Again, forgive me if I've missed the obvious.
[/quote]
I couldn't find any info right now via Gogle because there is just bail out stories and how execs went to a lavish resort... So FWIW:
(1) In order to sell insurance in New York a company needs to set up shop there, in a seperate company or division or subsidiary (couldn't find anything via Google either...)--so any national insurance company located in another state must set-up a seperate company or div./sub. to sell in NY as the laws there are different, as well as IIRC against the law for an out-of-state ins. co. to sell in the state (did I just make sense?).
(2) True if you work for AIG or any company your bonus, extra copensation is tied to the company's performance... I think the junket was a prize trip that AIG's independent agents earned for being top producers for the company; thus, earning them profits... I sell AIG life and annuity products, but did not qualify, I don't sell millions in premiums and asests for them.
Hope that clears it up... as soon as I find something I'll post it, or e-mail you.
<a href="http://photobucket.com" target="_blank"><img src="http://i97.photobucket.com/albums/l237/vespa_boy_2006/Smallerglokstadt.jpg" border="0" alt="Photo Sharing and Video Hosting at Photobucket"></a>
Visit Club Impact's website, where "Style colides with Action:"
www.clubimpact.us
<a href="http://s97.photobucket.com/albums/l237/vespa_boy_2006/?action=view¤t=Mod_Ska_Badges.gif" target="_blank"><img src="http://i97.photobucket.com/albums/l237/vespa_boy_2006/Mod_Ska_Badges.gif" border="0" alt="Mod/Ska Badges"></a>
[/quote]
I was just happy that you didn't end the post with "If you need me, I'll be at the spa".
We didn't sell a lot of records, but somehow we left an impression.
-Johnny Ramone-