Dan Gillmor is a BoingBoing guest-blogger.
It's even more disgusting than we heard yesterday. According to the Wall Street Journal, AIG, the financial giant that has taken more than $170 billion of our money to save it from extinction -- and given lots of it to other financial companies -- is paying almost half a billion dollars in bonuses (my emphasis in first quoted paragraph)
to employees in its financial products unit. That division was at the heart of AIG's collapse last fall, which compelled the U.S. government to provide $173.3 billion in aid to keep it running....
Those payments are in addition to $121.5 million in incentive bonuses for 2008 that AIG will start making this month to about 6,400 of its roughly 116,000 employees. AIG, which was rescued in September as it faced potential bankruptcy, is also making over $600 million in retention payments to over 4,000 employees.
Together, the three programs could result in roughly $1.2 billion in retention and bonus payments to AIG employees.
Who's worse? The legislators and executive-branch people who let this happen, or the AIG executives who are showing themselves to be supremely greedy, and who must be laughing at the rest of us by now. Close call...
On Thursday May 26, Red Nose Day will return for the second year. It’s all about giving to children to fight hunger, sickness, and homelessness. In the video above, the most famous magician in the world, David Copperfield, has his own magical way of asking you to get involved. There’s going to be a two-hour TV show on […]
Facebook gets a bad rap, but where I live, it has brought neighbors together, and it started because of the things I didn’t want to share.
When the Congressional Science committee wants to talk about the cold weather, and when NASA has to defend their budget by explaining why NASA is important, it can make people who believe in facts… a bit tense.
Every company wants to harness the power of social media, but few understand how to make that happen. Be one of those select few with this Social Media Marketing Course & Certification package, now just $29 in the Boing Boing Store.Over 12 modules of course material, you’ll learn what it takes to increase a brand’s […]
If you’ve got a killer app idea, but don’t have the technical expertise to pull it off, get a crash course in all things app development with the Comprehensive Android Development Bundle, now over 90% off in the Boing Boing Store. Across 83 hours of training, you’ll learn to develop for the world’s most popular mobile OS, mastering […]
Jared Sinclair developed the RSS reader app Unread, which made $10,000 in its first 24 hours on the iOS market. And we’ve all heard the story of Flappy Bird developer Dong Nguyen, whose creation was reportedly earning $50,000 a day at the height of its 2013 explosion. While those are rare examples, they’re also testament to the […]