Thread regarding AIG (American Intl Group Inc.) layoffs

Consider this

Not defending PZ in any way, but ask yourself what you would do. Greed is a powerful human emotion.

This is all public information. PZ owns roughly 186,000 shares of AIG stock. In December 2019 the stock was trading around $50 a share. After billions of dollars of stock buy backs the stock is trading at around $63 a share today. If PZ owns 186,000 shares with more to come and the stock increased $13 a shares that equals $2,400,000.

Would you sacrifice thousands of employees for your personal gain? Stop! the easy answer is no of course I wouldn't, but could you somehow justify in your head that you are so important that you are worth it? I bet you could if given the opportunity.

Corporate America is broken.

by Anonymous
| 2241 views | | 5 replies (last December 5, 2022) | Reply
Post ID: @OP+1k0I8iDq
Comment! It's anonymous!

5 replies (most recent on top)

Evan is a CEO that makes money and wants to better his company. PZ is an opportunist, just like BD, who cares little about making the company better. That is why Chubb will still be around in 10 years.

by Anonymous
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Post ID: @2ajr+1k0I8iDq

PZ knows the company isn’t being “transformed” but he needs to pump the stock price…go read the proxy statement, you’ll note they changed the evaluation to focus mainly on Total Shareholder Return (which includes buybacks etc) instead of the phony baloney loss ratio “as adjusted” that they used to use…PZ loves to feed news reporters tips in exchange for them saying things like “now with his comp being so high AIG will be compared to execs at places like Chubb”…

Not sure what world PZ is living in, but no one will ever think of AIG like Chubb/ACE…maybe that’s so he can tell himself he should be paid as much as Evan, but knows that at every co-----l party they’re just laughing behind his back.

by Anonymous
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Post ID: @2qgp+1k0I8iDq

The issue here isn't being "good" or "bad" guys, honestly noone of you should be so naive to think that way. The question is, is PZ handling AIG in a way that will grant his growth and a bright future, or is he (pz) just feeding on what remains of an (once) giant insurance superpower, now dead, but with a lot of meat yet to loot? We all would like to be proud of AIG, to work for a successful Company... but AIG is just an organization made by people, not by algorithms, and I don't see any optimism around me... People just don't care anymore, and with that attitute it's easy to forecast where we are heading to...

by Anonymous
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Post ID: @1qxp+1k0I8iDq

Just an example. I'm sure his take is much higher than that stated, because as you suggest, most of his stocks are acquired via bonuses. The point is that stock price is all that matters to these people and every billion dollar stock buy back means millions more in their pockets.

How are they funding stock buy backs? Expense reduction. Every one of you that leaves via layoff, outsource or voluntary means more money to invest in the stakeholder.

That is why PZ has to sign off on every single position that is back filled and why very few positions are being replaced.

by Anonymous
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Post ID: @yue+1k0I8iDq

So he paid full market price for all those shares?

by Anonymous
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Post ID: @lbx+1k0I8iDq

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