Can someone working for this fine company (I would prefer high level management) explain why the stock price does not move. We have a CEO whose salary and bonus move but the stock price stay around $51/$54. For a to Big to Fail Company something is very wrong. Based on the stock price, no one should get a bonus.
10 replies (most recent on top)
Currently at $51.93. Very sad to think that anyone would get a bonus or raise within this company. Break it up
AIG stock continues to sink. It is the only stock that goes the opposite of the Dow Jones.
Look with all the reorg, AIG200, consultants...blah, blah, blah...one things remains constant- the company does not sell enough premium. You can only mask poor performance so long. Premiums are sold at way too much of a discount to move the needle. The ELT hides the ball at earnings call to justify their bloated salaries. What are AIG most profitable lines? Which specialities are doing well? Anyone know? Shouldn’t this be common knowledge? It’s a joke.
Just lay low and hope for e-work so you can side hustle and strategize on your next move.
Higher ups get a bonus by contract. Only low level pond scum like the rest of us get cut when financials go south. Hence why they are leeches more than leaders. The level of favoritism and nepotism is appalling. We can't recruit or keep our new grad anymore, either. They see how miserable the rest of us are and run for the exits.
I made a copy and sent it off to several people.
Around 250 people got laid off on Dec/11/2019 - Wednesday. Tariq let go the entire Governance team...Still AIG is top heavy, having tons of 23, 24 & 25+. Make it lean top for AIG to survive. People who does the work are in 19, 20, 21 & 22. As per the note from risk modeling group, YOY premiums are going south. More lay-off are in the horizons........Start looking for greener pastures......
really interesting that the thread quantifying the number of layoffs got deleted....
Ironic that AIG gives managers STI and LTI even when tatgets aren't met. Their only strategy? Hire McKinsey to tell them to fire people. Train their workforce better? You must be kidding. Fix their antiquated technology? Even more humorous. Hire true leaders? The only consistency I see lately is many are paisans.
Unfortunately they were bailed out by the government and sold assets to show they paid the good ol Uncle Sam back leaving them in the hole for assists - but regardless they took money from the government. They would be a much better company today had they stood on their own feet and rebuilt then. Awful. Corporate welfare for the E suite hacks keeping their friends rich and endowed. Ugly stuff.
It’s amazing to me that AIG has lasted as long as it has, not making money, not writing business, and laying off their most competent and experienced employees.
simple u cannot tell people you are making money and then give a negative surprise. 4th quarter is not going to be any better
Because AIG does not make any money