A.I.G. to Suspend Millions in Executive Payouts

The beleaguered insurer American International Group has agreed to suspend payments to executives from a $600 million bonus fund as well as $19 million in payments to its former chief executive, the New York attorney general announced on Wednesday.

The moves are the latest steps in an effort by the attorney general, Andrew M. Cuomo, to prevent bonuses and other compensation to former executives at A.I.G., which in recent weeks has received tens of ... Full Story »

Posted by Fabrice Florin
Fabrice Florin
3.7
by Fabrice Florin - Oct. 23, 2008

Informative article about New York attorney general Andrew Cuomo's efforts to prevent AIG from paying bonuses or other deferred compensation payments to its former executives. This article is largely based on a single source, Andrew Cuomo, which limits its reliability. However, this is important breaking news which the public needs to know about.

See Full Review » (11 answers)
Michael Bugeja
2.7
by Michael Bugeja - Oct. 23, 2008

This New York Times story is representative of what many of us have been reading in metro and national newspapers about the state of the economy: the one-source article based on a transcript or a statement with scant indication of additional reporting. Moreover, the Times writer in this dispatch doesn't record negative results, such as noting whether calls and/or efforts were made to contact Martin J. Sullivan, the company’s former chief executive, and Joseph Cassano, who directed AIG's financial products division. Even Reuters in a short dispatch made attempts to contact Sullivan and Cassano (see link below). Worse, this Times article is unclear as to the status of Cassano who announced his retirement last February. There is ... More »

All week I have read one-source articles like this one based on transcripts or statements with no inkling of whom, if anyone, was contacted to comment on one of the biggest stories of this century: the collapse of the U.S. economy. If you want to read top-notch journalism on this and related topics in the Times, look for the byline of Gretchen Morgenson, an investigative reporter with extensive journalism and Wall Street experience.

The company also agreed not to make any payments from a $600 million deferred compensation and bonus fund for executives of A.I.G.’s financial products unit, which ... More »

See Full Review » (22 answers)
Marsha Iverson
4.2
by Marsha Iverson - Oct. 22, 2008

Perhaps this is more of a twisted "feel good" story than breaking news. Glater gives a delicious report of the legal moves by New York's attorney general to ensure that the AIG executives whose management practices bankrupted the company don't benefit from their malfeasance.

I'm hoping that the AIG executives are the first in a long string of financial 'leaders' who don't get their mind-boggling bailout benefits. I would be happier if the money withheld from these D&G-suited pirates went to pay back the taxpayers for the money loaned to their firms--or at least go toward repaying the bailout.

Mr. Cuomo has already called on A.I.G. to help recover payments made to former executives at the company. During the call with reporters, Mr. Cuomo suggested that his ... More »

See Full Review » (13 answers)
Courtney Whitten
3.7
by Courtney Whitten - Oct. 22, 2008

Not too great, because they use mostly quotes, instead of actually molding a story from the information. It seems cut and paste to me.

See Full Review » (11 answers)
Justin Lawson
4.3
by Justin Lawson - Oct. 23, 2008

It provides a lot of the facts that have already been reported, but doesn't go much beyond that.

See Full Review » (11 answers)

Comments on this story Help (BETA)

NT Rating | My Rating

Ratings

3.9

Good
from 11 reviews (50% confidence)
Quality
3.9
Facts
4.3
Fairness
3.6
Information
4.4
Insight
3.0
Sourcing
2.7
Style
3.3
Accuracy
3.5
Balance
2.5
Context
3.9
Depth
3.6
Enterprise
2.6
Expertise
3.0
Originality
2.5
Relevance
5.0
Transparency
3.0
Responsibility
2.5
Popularity
3.9
Recommendation
3.7
Credibility
4.2
# Reviews
5.0
# Views
5.0
# Likes
1.0
# Emails
1.0
More
How our ratings work »