No Bonuses for Top Brass of Bailed Out Insurer

Beleaguered insurance giant AIG has agreed to cancel bonuses for its seven top executives for 2008 and to freeze 2009 pay at current levels for the next tier of top executives -- about 60 in all, the firm's CEO today promised in a letter to New York Attorney General Andrew Cuomo. Click here to read the letter. "AIG is mindful that it must act prudently and, as such, must impose curbs on executive compensation," CEO Edward Liddy wrote. "To meet these objectives, AIG's top seven executives...Full Story
Commenting on this article is closed.