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This is a classic case of self pawned... canceling bonus for all employees, except for herself. "MillerKnoll says a video of CEO Andi Owen telling employees to stop "thinking about what you’re going to do if you don’t get a bonus" was taken "out of context." Don’t Live in ‘Pity City,’ Office Chair Magnate Tells Employees Who Want Money “Don't ask about: What are we going to do if we don’t get a bonus?” she asked. “Get the damn $26 million. Spend your time and your effort thinking about the $26 million we need and not thinking about what you’re going to do if you don’t get a bonus. Alright? Can I get some commitment for that?” Then, she whispered for emphasis: “I would appreciate that.” (The $26 million is an internal metric that the company was unwilling to discuss publicly.)" "For her work, Owen received bonuses of $1.29 million last year and $1.12 million in 2021. "

When was the last time Singapore has its on referendum? http://www.guardian.co.uk/world/2013/mar/0...m-executive-pay

Two lawmakers prodded the bankruptcy trustee in charge of unwinding MF Global Holdings Ltd. to drop his plan to pay bonuses to top executives who were at the securities firm when it collapsed. In a letter to former Federal Bureau of Investigation Director Louis Freeh, Sen. Jon Tester (D., Mont.) said it would be "outrageous" to proceed with a proposal to a bankruptcy judge that could result in payouts of several hundred thousand dollars each for MF Global's chief operating officer, finance chief and general counsel. The size of the bonuses would depend on their job performance in helping Mr. Freeh maximize value for creditors of the company. "Rather than reward executives in the hopes of being able to pay back creditors, I urge you to forgo executive bonuses and instead use these funds to repay the farmers and ranchers whose trust was so betrayed by MF Global," Mr. Tester wrote. "I look forward to your reconsideration of this decision." Montana is home to farmers and ranchers who invested in the futures market through MF Global but are likely to suffer losses because of the estimated $1.6 billion shortfall in customer accounts that emerged after the New York company filed for Chapter 11 bankruptcy protection on Oct. 31. The Wall Street Journal reported Friday that Mr. Freeh is planning to ask the bankruptcy-court judge in charge of the case to approve potential bonuses for Bradley I. Abelow, Henri J. Steenkamp and Laurie R. Ferber, according to people familiar with the situation. The payouts likely would be made in pieces throughout 2012. As many as 20 or so other MF Global employees now working for Mr. Freeh also would be eligible for possible bonuses. Details could be filed as soon as this month. Sen. Amy Klobuchar (D., Minn.) said in a separate letter to Mr. Freeh that the plan is "unacceptable" until numerous civil and criminal investigations into MF Global's demise are finished and missing customer money is found. She is a member of the Senate Agriculture Committee, which is conducting a probe of the financial firm's demise. "These same executives were at the helm of MF Global when it collapsed," Ms. Klobuchar wrote. "Issuing bonuses with the company's holdings sends the wrong message to customers already skeptical of the bankruptcy process." A spokesman for Mr. Freeh said Sunday in a statement that "the trustee has noted the comments" made by the senators, but "has not made any decisions" on the bonuses. He described the issue as one that comes up "routinely" in Chapter 11 cases. A lawyer working for Mr. Freeh on the case also said Friday that keeping current staff is the "most cost-effective way" to protect the interests of creditors snarled by MF Global's bankruptcy. Without help from Messrs. Abelow and Steenkamp and Ms. Ferber, Mr. Freeh likely would have to spend more on accountants and consultants to sift through MF Global's tangled financial statements, according to people close to Mr. Freeh. The three executives are the highest-ranking MF Global employees among about 300 still working at what is left of the company. Chief Executive Jon S. Corzine, the former New Jersey governor and Goldman Sachs Group Inc. chairman whose bets on bonds of troubled European countries led to a run on MF Global last fall, resigned in November. Mr. Tester said federal bankruptcy law limits Mr. Freeh's ability to reward bonuses to former MF Global executives who kept their jobs. Sen. Charles Grassley of Iowa, the top Republican on the Senate Judiciary Committee, raised similar concerns in a statement Friday. U.S. law sharply restricts "retention" bonuses to executives for sticking with distressed companies. Some companies in bankruptcy cases carefully craft "incentive" plans with specific performance targets to avoid running afoul of the law. Mr. Freeh's bonus plan at MF Global would likely need to include performance-based targets deemed challenging enough for a judge to conclude that the proposal is an "incentive" plan rather than "retention" payouts for Messrs. Abelow and Steenkamp, Ms. Ferber and the other employees who could get bonuses. A lawyer for Mr. Abelow declined to comment. After the Chapter 11 filing, Mr. Abelow agreed to cut his annual salary to $60,000. For the fiscal year ended March 31, 2011, he got total compensation of $7.6 million, including a salary of $829,545, according to a securities filing. A lawyer for Mr. Steenkamp couldn't be reached. Last week, a lawyer for Ms. Ferber told the Journal she is "working hard to assist the trustee" in the bankruptcy case. Her "personal interests are completely aligned with those of MF Global," the lawyer added. The attorney declined further comment No one at MF Global has been charged with wrongdoing. Messrs. Corzine, Abelow and Steenkamp told lawmakers last late year they didn't do anything improper and were uncertain exactly how the shortfall occurred. While MF Global customers have received varying amounts of their money back, many have received about 72 cents for every dollar they had at the securities firm when it collapsed. Prosecutors, regulators and others have been interviewing MF Global employees, but hopes for more recoveries have dimmed. Write to Mike Spector at [email protected] and Aaron Lucchetti at [email protected]

Taken from http://sg.news.yahoo.com/afp/20090317/tts-...ig-972e412.html WASHINGTON (AFP) - - President Barack Obama Monday vowed to block multi-million-dollar bonus payouts by bailed-out insurer AIG as he confronted intensifying public anger against Wall Street excess.ADVERTISEMENT The controversy escalated as New York state Attorney General Andrew Cuomo started to slap subpoenas on American International Group, after the crippled firm ignored a Monday afternoon deadline to divulge details of the bonuses. Conscious of the potential backlash as his administration readies new support for the financial industry, Obama said the planned bonuses for AIG executives and traders revealed over the weekend were an "outrage." "This is a corporation that finds itself in financial distress due to recklessness and greed," he said, in a rare flash of public anger, at a White House event with owners of small businesses. "Under these circumstances, it's hard to understand how derivative traders at AIG warranted any bonuses, much less 165 million dollars in extra pay," Obama said. "How do they justify this outrage to the taxpayers who are keeping the company afloat?" he said, adding half in jest that "I'm choked up with anger here" as his voice caught at one point. On Sunday, administration officials said there was little that Treasury Secretary Timothy Geithner could do legally to stop the bonuses, because they were promised under AIG employment contracts before the insurer was bailed out. But Obama, noting the substantial government support extended to AIG, said: "I've asked Secretary Geithner to use that leverage and pursue every single legal avenue to block these bonuses and make the American taxpayers whole." Massive losses at a London trading division have already forced the US government to pump some 150 billion dollars into AIG, leaving the company 80 percent owned by the taxpayer. On March 2, the administration unveiled another emergency injection of 30 billion dollars. According to widespread reports, the bonuses are largely going to traders at the very London-based financial products unit that is blamed for AIG's spectacular fall from grace. White House spokesman Robert Gibbs said the administration was looking to attach stricter conditions to the latest infusion of 30 billion dollars. "Certainly, any person that is subject to these bonuses ... should think long and hard about whether, given the performance of the company, this is either warranted or appropriate," he told reporters. Acknowledging the public's anger at how 700 billion dollars in government bailout money for Wall Street has been used, Gibbs said the AIG case "offends our common sense, offends our sense of value, and seems completely misplaced." The administration is at risk of deeper public anger after AIG revealed on Sunday that it had passed on 22.4 billion dollars of government money to many foreign-owned banks that signed up for its exotic insurance against risky bets. France's Societe Generale and Germany's Deutsche Bank were among the top three recipients after AIG used the bailout funds to cover so-called credit default swaps offered by the London office. AIG was deemed by the US government to be too big to fail, given the intricate web of ties it built with other financial institutions through the credit default swaps linked to the tanking property market. Obama said he wanted Congress to pass tougher financial regulation "so we don't find ourselves in this position again." In a letter to Geithner Saturday, government-appointed AIG boss Edward Liddy said the bonuses could not be canceled due to the threat of lawsuits for breach of employment contracts. He also argued that AIG risked an exodus of senior employees unless it awarded incentives to retain "the best and the brightest talent." That argument is being ridiculed in Congress as the Obama administration girds for the tough sell of asking for more bailout money to help US banks clear out their toxic assets. John Boehner, the Republican leader in the House of Representatives, said the "outrageous" AIG bonuses proved his party's case that Obama must spell out an "exit plan" to wind down his administration's hefty market interventions. Good money indeed! I agree all these people should be fired instead!

when it comes to bonuses .... no one can stop them -> not geithner -> not obama March 15, 2009 AIG's millions in bonuses WASHINGTON - AILING insurer AIG - which received US$180 billion in federal aid - is to give out millions of dollars in bonuses this week, according to a report on Saturday. American International Group CEO Edward Liddy told Treasury Secretary Timothy Geithner bonuses could not be cancelled due to a risk of lawsuits for breaching employment contracts, the Washington Post said. In a letter to Mr Geithner - who has expressed dismay over the payments - Mr Liddy also indicated a refusal to pay bonuses worth tens of millions of dollars would prompt an exodus of senior employees. 'We cannot attract and retain the best and brightest talent to lead and staff the AIG businesses - which are now being operated principally on behalf of the American taxpayers - if employees believe that their compensation is subject to continued and arbitrary adjustment by the US treasury,' Mr Liddy wrote, according to the Post. After pumping some US$150 billion (S$231 billion) into the crippled insurance giant, the US government earlier this month unveiled an additional rescue plan worth US$30 billion. The plan, which saw the government take a major equity stake in the firm, was billed as an effort to stave off the collapse of what had been the world's biggest insurer. Although AIG has agreed to cut back on multi-million-dollar bonuses for its highest ranking officers, others will receive full payment if the company's restructuring is followed through, the Post said. The firm's lower-ranked employees are still set for a massive pay day. Bonus payments to thousands of employees totaling 'in the hundreds of millions of dollars' are to be given out, the daily reported[/b]. For the fourth quarter, AIG announced a loss of US$61.7 billion - the biggest ever for a US firm in one quarter - pushing up its net loss for 2008 to US$99.3 billion. -- AFP

Mon, Feb 23, 2009 Reuters >CAPITALAND , Southeast Asia's largest developer and Singapore's biggest mall operator, will pay part of its managers' bonuses this year in shopping vouchers. 'Staff will receive shopping vouchers in March, and the amounts range from $750 to $10,000,' a CapitaLand spokeswoman said. 'About $1 million worth of vouchers will be distributed in total.' CapitaLand earlier this month said it will raise around $1.84 billion via a rights issue after reporting an 88 per cent slump in fourth-quarter net profit due to weaker sales in Australia and China. ---------------------------------------------------------------------- we will see more discounted voucher selling in ebay

Check it out, baby! Wah say . . . got like dat one??. NNKC!!