I was told Blackboard is being put up for sale but if no buyers in 30 days, then it gets shutdown in 90 days...Employees were told no severance-nothing. The sad thing is as recently as last month, they were luring people away from other companies and now these people have nothing. The company is getting more heartless.
Bumped from @1ivw+14N96sFN for info.
In response to "This thread needs to be sent to a media outlet" this is Shefi from Coverager. We were the first to dig below the surface when AIG announced BB's discontinuation and the first to share that AIG isn't willing to sell BB despite receiving an offer from a PE firm. If you're willing to share your story (on background) - pls reach me at shefi at coverager dot com.
Blackboard will be rescued by an investor, they will be ok.
This thread needs to be sent to a media outlet. It’s so full of truth. I feel even worse for my good friend who just went to Blackboard.
hope this is accurate
American Greed is looking into AIG in a future episode. It could be a 2 part series, one on the people who got bailed out in 2008 and still kept lavish executive pay packages, and the second titled Life of Brian.
hqs+14Q6cP0k, well said.
The robber barons of the 19th century have nothing on most of today's generation of business leaders. We are costs, inputs. HR folks could be pulled out of the casting of Westworld, they protect management and nothing else.
Offshoring more roles to India is their biggest long term plan. Do not get comfortable in a career at AIG, else plan for the worst. Already losing good talent even in this market to competitors.
SM will get paid again too !!!!
you can make an anonymous referral on the American greed web site, just saying
its clear when you step back and look at this 3 years into bd taking over that the plan was never to make aig the world insurance leader again. the dog and pony shows were great salesmanship, but the plan was gaining access to a great deal of capital with little oversight.
the first few months of bd's reign were laser focused on a few self serving projects. reinsure the book of business to preserve the needed capital, buy hamilton to secure a huge payday and hire pz and crew to actually run the company. if pz and crew could turn aig around, great. if not, great. bd gets paid either way.
now that bd is on the verge of retirement, he is just cleaning up the mess before he leaves with the loot. someone posted earlier that blackboard and the fine people working there are nothing more than sacrificial lambs.
this once respected company is now led by highly unethical crooks that sell out the people that could have potentially turned aig around. unfortunately, so much talent has been lost to rifs and resignations that an aig turnaround is now unlikely.
using ballpark math for bds payday, $110 million for Hamilton, $40 million for bd severance, $40 million first year bd salary plus the other salaries and stock incentives over the last few years, bd has acquired at least $250 to $300 million in his first 3 years at aig while the stock is down over 40% from 52 week highs. now bd hands aig200 to pz with a $1.3 billion dollars price tag and at least 3 more years of plunder.
whether or not this is legal is beyond me, but it would make a great episode of American Greed. the board of directors are either blind buffoons or they are lining their pockets as well. its probably safe to assume the latter.