President Barack Obama Message Board

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Politics : President Barack Obama

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To: RetiredNow who wrote (45765)	11/25/2008 7:03:04 PM
From: stockman_scott	Read Replies (2) of 149317

AIG CEO Liddy to get $1 salary through 2009 marketwatch.com SAN FRANCISCO (MarketWatch) -- American International Group Inc. said Tuesday Chairman and Chief Executive Edward Liddy will receive a salary of $1 for 2008 and 2009. The insurance giant also said there will be no 2008 annual bonuses nor salary increases through 2009 for its top seven officers as a part of its voluntary restrictions on executive compensation. In addition, 50 of its next-highest executives will not be receiving salary increases or bonuses through 2009. The company is also developing a funding structure to ensure that no taxpayer funds are being used for bonuses or cash performance awards for AIG's senior partners. AIG has received billions in government funds as its capital position continued to deteriorate amid the financial market turbulence.

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