AIG: Financial Winners & Losers (AIG)
By Benzinga Staff
March 15, 2010 1:40 PM
March 15, 2010 1:40 PM
NEW YORK (TheStreet) -- American International Group (NYSE: AIG) was among few winners of the financial sector Monday after a report that the insurer will retain $21 million in bonus payments.
AIG will hold back the bonus payments from current and former employees of its financial products unit, according to a CNBC report. AIG is slated to pay out $46 million in bonuses Monday to about 70 people, most of whom are former employees.
The retained bonuses are expected to help AIG exceed a $45 million giveback target demanded by pay czar Kenneth Feinberg, a source told Reuters. So far, AIG employees, mostly current and some former, have agreed to return $40 million, in part by accepting lower 2010 payouts.
Read the rest of this story on TheStreet.
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