Mar 20 2009
Creative Solutions for the AIG Chief
AIG Chief Executive Liddy has been quite kind to take a $1 payment for his services. Some of the employees who gave back their bonuses should be complimented on their ethics. Now what about the people who have not given back that bonus money?
Here are some creative things Liddy could do to for AIG, now that the American taxpayer owns 80% of the company.
1. Require all bonus keepers to attend a college course on ethics.
2. Take each person the the unemployment line and let them interview people who have been out of work, especially the ones who have not been working for the past ten months.
3. Put out an ad advertising the job of the executive that accepted the largest bonus. Require that executive to interview his/her replacement. Be sure that one of the required interview questions is, “How would you help AIG unravel the financial mess it is currently experiencing?”
4. Find the top executive that accepted their bonus and may have been most responsible for the problems that AIG is currently experiencing. Give them new duties as the head of the custodial or in house mail department. Explain to them that they can work their way back up.
5. Fire ten employees who kept their bonuses. Give reasons of poor judgment or unethical behavior for the firing. This is enough due cause to fire an employee. Wait five days and fire ten more that have not given back their bonuses. You would be surprised how many others give back the money.
6. Offer to include a special statement in their employee file explaining the poor judgment they have shown in this matter.
7. Suspend retention and bonus pay until the the bonus keeping employee has explained how s/he is going to make AIG recover from the huge losses.
These are just some ways which Liddy could strongarm his employees into not keeping their bonuses. Further, retention bonuses and other bonuses should be suspended indefinitely. Liddy also needs to report in to the American taxpayer; we need to be kept informed of steps he is taking to “unravel the mess.” One things is for sure, we need leadership at AIG that is going to look more competent and do less hand wringing than we see now.
