billski
Active member
AIG, owner of Mt. Mansfield Corp:
"New York Attorney General Andrew Cuomo and American International Group Inc. said Thursday they will work together to recover any improper expenditures made by the company as it neared a collapse earlier this year, including any inappropriate compensation paid to former executives
...
Mr. Cuomo sent a letter to AIG's board of directors on Wednesday, saying he would take legal action against the company if it didn't address concerns about what he said were "unreasonable" and "outrageous" payments it made to executives as the insurance giant neared a collapse earlier this year.
...
AIG also agreed not to make payments pursuant to an employment agreement with Steven Bensinger, AIG's departing chief financial officer. Mr. Cuomo said the severance package was in the range of $10 million."
...
In his letter, Mr. Cuomo mentioned several expenditures he believed were extraordinary, including a March 2008 cash bonus of more than $5 million to Mr. Sullivan and a "golden parachute" of $15 million."
Source WSJ. 10/17/8
So that's about $25 million for only two of the greedy pigs. Last I heard estimates of valuation on Mt. Mansfield Corporation were about $200 million. Chump change....
"New York Attorney General Andrew Cuomo and American International Group Inc. said Thursday they will work together to recover any improper expenditures made by the company as it neared a collapse earlier this year, including any inappropriate compensation paid to former executives
...
Mr. Cuomo sent a letter to AIG's board of directors on Wednesday, saying he would take legal action against the company if it didn't address concerns about what he said were "unreasonable" and "outrageous" payments it made to executives as the insurance giant neared a collapse earlier this year.
...
AIG also agreed not to make payments pursuant to an employment agreement with Steven Bensinger, AIG's departing chief financial officer. Mr. Cuomo said the severance package was in the range of $10 million."
...
In his letter, Mr. Cuomo mentioned several expenditures he believed were extraordinary, including a March 2008 cash bonus of more than $5 million to Mr. Sullivan and a "golden parachute" of $15 million."
Source WSJ. 10/17/8
So that's about $25 million for only two of the greedy pigs. Last I heard estimates of valuation on Mt. Mansfield Corporation were about $200 million. Chump change....