Why is it

[LGA Fleet Service]

Why is it contracts covering UAW workers, airline employees and numerous other employees cab be cast aside and modified at will, yet executive bonus payments are "Ironclad" and inviolate?

Congress practically burned the UAW at the stake and required sweeping changes in CBA's at the automakers to even think about helping the auto industry with $25 billion dollars,but meanwhile we put almost $180 billion into AIG with no strings attached and now everyone is upset?

Lord knows we need to keep that quality group at AIG intact....wouldn't want to lose them to another bank.

I'm sure having AIG on an executive resume will have doors flying open for you...

 

[dapoes]

Why is it contracts covering UAW workers, airline employees and numerous other employees cab be cast aside and modified at will, yet executive bonus payments are "Ironclad" and inviolate?

Congress practically burned the UAW at the stake and required sweeping changes in CBA's at the automakers to even think about helping the auto industry with $25 billion dollars,but meanwhile we put almost $180 billion into AIG with no strings attached and now everyone is upset?

Lord knows we need to keep that quality group at AIG intact....wouldn't want to lose them to another bank.

I'm sure having AIG on an executive resume will have doors flying open for you...

Supposedly the bill had provisions that protected previous contracts, however still your logical question unfortunately doesn't apply to an obvious illogical event of bailing out the banks. It should have never happen and when it did, it happen so fast that no one was given the chance of anything resembling forethought. They dont call it moral hazard for no reason.

 

[dapoes]

So now the truth comes out that the provisions to exempt AIG's bonus's from any conditions were in the text of the original stimulus bill under Obama. Remember that one that had to be passed immediately or the world would implode? The one that went thru without anyone reviewing and sat on Obamas desk over the weekend.

Guess they should have read it after all. :down:

 

[Garfield1966]

I would say it has to do with two things.

1. AIG is holding the world by the short and curlies. There are a few economies at stake with AIG.

2. UAW does not have any leverage. The UAW folks will come to work because there are over 500,000 people loosing their job each month and the UAW folks don't want to be on that list. So, no one gives a damn.

OK I lied 3 things.

3. He who has the gold (or controls the gold) makes the rules. AIG has their hands all over the gold. The only things unions have their hands on is the junk in their pants.

 

[dapoes]

Its utterly stupid that Washington is in outrage over this $165 million at the same time sending $900 million to Hama's to further their terrorist activity's. What a joke this new administration has become. :down:

 

[Garfield1966]

Its utterly stupid that Washington is in outrage over this $165 million at the same time sending $900 million to Hama's to further their terrorist activity's. What a joke this new administration has become. :down:

I thought we already discussed this. Hammas was not given cash. The aid provided was food and medical aid. So unless you subscribe to the Mrs. Doubtfire rules of engagement (run-by fruiting) am pretty sure the aid cannot be used for malicious purposes.

I sure hope you're pretty.

 

[dapoes]

I thought we already discussed this. Hammas was not given cash. The aid provided was food and medical aid. So unless you subscribe to the Mrs. Doubtfire rules of engagement (run-by fruiting) am pretty sure the aid cannot be used for malicious purposes.

I sure hope you're pretty.

Thats what you were force fed by the breast of mother obama. And you slurped it up!

 

[Garfield1966]

Thats what you were force fed by the breast of mother obama. And you slurped it up!

Do you have evidence to the contrary or are you just making stuff up again?

Sure hope you're pretty.

 

[JS]

A big difference between the UAW and AIG is that with the auto makers, $25 billion (all of it) goes to labor. Therefore it would make no sense not to demand that UAW agree to some paycuts. With AIG, the vast majority of the money is not going to executive bonuses.

AIG has made some huge mistakes and should not be rewarded, and that includes the executives, but this kind of comparison with the UAW is meaningless.