Doesn’t seem like a very good time to work for AIG right now… While we are at the annual salary issue, Steve Job’s been paid 1 dollar since 1997!
Ed Liddy, CEO of embattled US insurer American International Group (AIG), is to receive an annual wage of $1 this year and next because of voluntary restrictions placed by the company on executive compensation.
I wonder how the stock options are structured for these AIG’s senior managers.
There seems to be only one good advantage with these oversized corporations (Lehman Brothers, General Motors, AIG or Citigroup). When small companies fail, they start over again from scratch. When big companies screwed up, they get bailed out using taxpayer’s money.
It’s such a pity. The broken system could use a little overhaul.
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