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.
Some truths are universal. For one, your phone will always run out of power when you most need it. For another, the charging cords that come packaged with your Apple device will fray, split, and rip faster than Usain Bolt in a game of tag.Instead, pick up a charging cord that anyone would have a tough […]
Some people say magic tricks are nerdy and best left to your 12-year-old asthmatic cousin. But others see value in perfecting the slight of hand and showmanship associated with a perfectly executed routine. We’re firmly in the latter camp. And now, we’re giving you the ability to put a few parlor tricks up your sleeve with the Penguin […]
Bluetooth speakers may be convenient to use, but many of them just aren’t that powerful. Sure, it may be fine if you’re seated in front of the speaker. But move across the room, and you may strain to hear what’s coming from those tiny drivers.There’s a reason why the G-BOOM Wireless Bluetooth Boombox (now $79.99 in the Boing […]