Wednesday, November 11, 2009, PM | Leave Comment
AIG’s Benmosche threatens to jump ship. Relax, will you? He is not committing suicide. He is not jumping OFF the ship into the deep water, although for me it would have meant off the ship. Leaving a job with close to $10 million in pay, I would have jumped in the water. Are you crazy, Bobby baby? Just to remind you who the heck Bobby baby is, AIG selects ex-chief of MetLife as CEO.
Folks at that level seem to be quite different than us ordinary humans that walk on the surface of the earth with no job – nothing, zilch – under their belt, that have lost so much, their dignity, their respect, not to mention their entire bank balance if they ever had one.
What if he quits and I mean gone from AIG. What’s gonna happen to poor Bobby baby? You think he would be unemployed for more than a week. He probably would get a lot better job making way more than the measly $10 million he is making now with AIG. [ I am quoting finance newspapers and magazines that he is not happy with $10 million. ]
Felix Salmon over at http://blogs.reuters.com/felix-salmon/2009/11/11/robert-benmosche-frustrated-civil-servant/ has talked about it.
The real culprit in this story, however, isn’t Benmosche, who has been something of a known quantity from day one at AIG. Rather, it’s the people at Treasury, who are now zero for two in picking AIG CEOs. Maybe it’s not as easy as they thought.
The problem is that the CEO of AIG isn’t like the CEO of a public company: he’s fundamentally a civil servant, and is much more constrained in his actions, including his ability to hire people at high salaries, than 99% of other CEOs. The leader of AIG is always going to be second-guessed and micromanaged, which will make any CEO type unhappy.
In a Nutshell
Looks like the fat lady has sung for Bobby baby. Hey Bobby baby! Stick around. Like Felix said you are a public servant. You should have thought of this before. You are in this not for the money but for the American public. What’s gonna happen to that $180 billion?
Don’t be sad. More than that don’t quit. The American public never knew about nothing in terms of why the Treasury hired you in the first place. But now that they know [ they still don’t know why you were hired ] you were hired as a public servant, why should you quit on them? That’s not American to be quitting on us.
Hey Bobby baby! Don’t be quitting on us now. Tell the fat lady to shut up and stop singing. Do it for Mom and Apple pie and Chevrolet. OK, Bobby baby?
You know what others are saying about you, Bobby baby?
Be a nice boy, Bobby baby.
This just in. New York Times is reporting that Benmosche Says He Is ‘Totally Committed’ to A.I.G.
What do you think?Facebook.com/doable.finance