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.
The Black Friday Mac Bundle 2.0 is one of the Boing Boing Store’s best-selling Mac bundles yet, and it’s about to come to an end. If you don’t get your copy now, here’s what you’ll be missing:This bundle comes packing 9 top-rated Mac apps in one package, at the hugely discounted price of just $23.99. […]
The Boing Boing Store’s Gift Guide is full of ideas for pretty much anyone in your life like hipster ice cub trays, Xbox controllers, Halo Boards, and even diamond necklaces. As always, all products in the Boing Boing Store come at great discounts, too. Shop by price bucket starting at under $20. Under $20:Bloxx Jumbo Ice Trays […]
Unlike traditional lighters, the SaberLight features an electronic plasma beam that’s both rechargeable and butane-free. This sleek lighter is even approved by TSA, so you’ll never be stuck buying lighters you’ll just have to throw away partially used. For some people, like me, this is a pretty big game-changer. The SaberLight’s beam is actually both hotter and cleaner […]