AIG is one of the major listed companies in the world which suffered heavily in year 2008 due to the global recession.
AIG faced severe liquidity crisis in September 2008 following downgrade of its credit rating.
Having 116,000 employees, the Federal Reserve Bank Of New York announced to authorized to create a 24-month credit-liquidity facility from which AIG may draw up to $85 billion.
On October 9, 2008, the company borrowed an additional $37.8 billion via a second secured asset credit facility created by the Federal Reserve Bank of New York
here is the short summary of the Financial Performance of AIG in the past 3 years:
Generally, bonus scheme should link incentive payments to the profit of the company as a whole. But you can see above, AIG is making loses.
Apparently the directors are being paid excessive bonuses.
Do AIG have a Remuneration Committee to decide the remuneration packages for directors?
Perhaps the executive directors set their bonuses level themselves.
I try to find out the AIG's board structure and Corporate Governance Guidelines they follow.
This is what i found in their board structure and their CG guidelines:
"Not Found
The requested URL /corpsite/PDF/Corp_Gov_Guide2.pdf was not found on this server. "
Maybe they are ashamed of themselves?
Fulham also we cant beat T.T
