Word: unitized
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...Then Geithner's staff made the discovery that would infuriate nearly everyone in Washington. On March 10, the Secretary learned, 10 days after his staff first got wind of it, that AIG had paid out $165 million in retention bonuses to executives at the unit that compelled the U.S. to bail out the company in the first place. It took Geithner until 7:40 the next night to place what must have been a tense phone call to AIG's newish CEO, Ed Liddy. The bonuses were not tenable; they had to be canceled, he demanded. Liddy, a dollar...
Although Treasury Secretary Timothy Geithner told congressional leaders on Tuesday that he learned of AIG's impending $160 million bonus payments to members of its troubled financial-products unit on March 10, sources tell TIME that the New York Federal Reserve informed Treasury staff that the payments were imminent on Feb. 28. That is 10 days before Treasury staffers say they first learned "full details" of the bonus plan, and three days before the Administration launched a new $30 billion infusion of cash...
...common amongst the team, which is not surprising, due to Weiss’s accessible and infectious personality.“I like to have fun, and there are a lot of things we do to promote that,” Weiss said.He brings his team together as a unit, generating relationships on and off the mat.“This year we are especially cohesive,” junior co-captain Louis Caputo said. “We cannot seem to get enough of each other.”Harvard grapplers do not consider wrestling purely individual, nor merely...
Obama's focus at the White House was on bonuses for AIG's 370-person financial products division, the London-based unit largely responsible for the company's debacle involving bad bets insuring mortgage-backed securities. Overall, however, three separate, AIG-wide retention and bonus payments due to start later in March will spread some $1.2 billion among roughly 6,400 of the firm's 116,00 staff. Seven people at the financial products unit are in line for more than $3 million in extra 2008 compensation...
...three Congressmen sent a two-page, single-spaced letter with 10 questions to the IRS asking for direction in resolving a series of important questions regarding Madoff and Ponzis, such as whether there will be special extensions for victims. The letter also suggested setting up a special "Madoff unit" to process claims. (Read more about Ponzi schemes...