Failure is Not Just an Option; It Makes You Bonus Eligible

Over the weekend we learned that 400 AIG executives, who judging from the way their firm has been run could possibly be considered utter failures, will be getting $160 million in bonuses.

This follows the $170 billion in taxpayer bailout money they had received on four different occasions in light of its status as "too big to fail." Ben Bernanke said last night on 60 Minutes that nothing, nothing has pissed him off more.

Below is my post on AIG from last September in which I shared some information the CEO had shared with shareholders in the company's most recent annual report.

It still pisses me off, and read closely the item at the bottom that is labeled, of all things, "Integrity."

***

"Sincerely, Martin J. Sullivan"


In the last year AIG stock traded for as high as $70 a share. It's trading as of right now at $2.99 -- about the price for a gallon of milk.

Last week the stock was trading at a low of $1.25 a share, or about the price (sale price, I should say) of a can of Progresso Rich & Hearty Chicken Pot Pie soup.

So, in advance of this collapse, what were its investors told? I pulled the below from the AIG annual report, which you can read here. We'll just let these words speak for themselves, with no further comment.









One more thing: Forbes listed Sullivan's CEO compensation at $11 million. And when he left the firm earlier this summer, he was reportedly paid out a $47 million severance package. No doubt about it: One could buy quite a lot of Progresso Rich & Hearty Chicken Pot Pie soup (and deflated AIG stock) with that sort of coin.

Heckuva job, Marty.

Pressing Questions

With a whopping one post in all of 2009, is The Cup of Joe yet another victim of the floundering economy?

Should The Cup of Joe shut down permanently?

Has TCOJ been sent to Exile Island, and, if so, will he find the hidden immunity idol?

Or has TCOJ been caught in some sort of LOST-esque time warp where blogs are frowned upon by The Authorities?

Or, maybe, Joe is writing a secret blog he just hasn't told anybody about?

***

Although nobody is probably still reading here .... stay tuned for answers.

Sometimes, however, the only true answer is silence.

I Hope He Apologizes

Link.

Studies in Idiocy; Questions of the Day

I wonder who is going to play Rod Blagojevich on Saturday Night Live?

What an idiot, eh? Here's the Department of Justice press release.

MSNBC, by the way, cut away from the fascinating DOJ press conference, featuring a couple completely quotable prosecutors, to go live to an NBC press conference featuring the big Jay Leno announcement, which already had been all over the front page of today's New York Times and other outlets many hours earlier.

Kind of idiotic, eh?

In 50 Days ...

The worst president in U.S. history is headed to retirement.

And not a day too soon.

And what a mess he's made, no?

"Love for All"

One more reason to love him: Bjorn Borg launches a dating site with the below commercial. Love for all, indeed!

It's Real!

This is not a joke. I don't think.

A Worthy Read

A friend sent me this. It's about a butler worthy of hugs from a First Lady and state dinner invitations from the President. It's the best thing I've read all week, a touching and human story about race, and progress, and presidents.

'This is About the Human Heart'

A dose of history and common sense from Keith Olbermann about gay marriage. Bravo.

Mr. President-Elect, and Grandpa

The kid with the threatening stick in the back, like so many others, is on the wrong side of history. No you can't, little boy.

But yes we can!

Not Entirely Red

Obams has won 20 percent of Nebraska's electoral votes. More here.

That gives Obama 365 electoral votes. The most ever won by W was 286, who also won 271 Supreme-Court-aided votes in 2000.

Hetero Divorce: Still Legal

The people of California denied Ellen her marriage rights on Tuesday.

Apparently a loving lesbian couple presents a threat to traditional marriage, according to the will of a majority of voters.

Assholes.

Where's the proposition banning heterosexual divorce?

UPDATE: Good news for Ellen and 17,999 others.

The First Family-Elect

Totally, totally adorable.

And we totally, totally forgive Michelle for that dress.

Keep hope alive, mis amigos.

(Photo source.)

Four Words: "President-Elect Barack Obama"

Three more: "God Bless America"

Ignore my last post: The big winner tonight is the promise of America.

The Big Winner on Tuesday Will Be ...

Sarah Palin.

No. I don't think she'll win the election; in fact, I think she is costing John McCain votes. A lot of them.

Nor do I think she is necessarily eyeing a run for president in 2012. This probably isn't her first option, nor her best.

I think she's looking to cash in.

I expect that sometime in the next four years she will pursue or be presented with a syndicated talk show opportunity, on radio or TV. Think of her as a female Rush Limbaugh, an Oprah for conservatives. (Limbaugh made a reported $33 million last year.) Sure, a lot of people hate her, including a segment of moderate Republicans. But a niche of people absolutely love her.

She'll make millions.

She could even replace Elisabeth Hasslebeck on The View, or join Elisabeth on some new syndicated show for conservative soccer moms and Jane the Plumber.

On Tuesday, Barack Obama will become the next president of the United States, inheriting all the messes from Bush the Lesser. What he faces won't be easy.

But Sarah Palin? Sometime in the next four years, if she chooses this path, she'll be a filthy rich celebrity.

POW Fashion

I recently had the opportunity to watch Hogan's Heroes in high-def on HD Net for the first time.

Don't Hogan's Nazi-supplied pajamas look comfortable?

Separated at Birth?

Election 2008: When Dirty Tricks met Mr. Clean.