Tuesday, March 17, 2009

Business Injustice

How is it fair to allow AIG to give its CEOs bonuses? These supposedly “talented” executives are the same people that steered the economy into this mess in the first place, so while higher-ups at AIG may claim these bonuses are required to keep talented executives from leaving, how about the idea of letting them go? Why should the taxpayers, who, for the most part, are not multimillionaires, pay for someone who did a poor job to be rewarded substantially? The concept of a bonus is to reward people for their successful hard work. These CEOs have done the exact opposite and do not deserve rewards.

Everyone is claiming that the contracts require the bonuses and there is no way around them. When these contracts were written, did the company expect to be paying these bonuses with government funding?

As soon as AIG received taxpayer money in the form of a government bailout, the contracts should have been voided. While it may be upsetting to the CEOs, they make enough that they will get by, and they should not profit off their mistakes from someone raising a family on $50,000 a year, who played by the rules and didn’t get any bonus.

The entire situation is just a gross injustice.
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