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So many years ago, I pointed to the AIG building in lower Manhatten and told the National Park Service cop why that is a company I was waiting to go under. This may have been in 2004.
When GM has no profits, its unions get no Christmas bonuses. But its management does. When AIG puts $1trillion at risk, why does anyone in AIG get bonuses? The reasoning? If they don't get that bonus, then they cannot afford to live in NYC.
By getting no $67million bonus, top GS executives must suffer poverty - only $600,000 this year. So we would even blame the unions?
Lee Iacocca - a product oriented thinker - took only $1 per year at Chrysler until Chrysler was profitable. Bean counters educated in business schools would never do that. Their compensation is more important than their job.
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