AIG Execs May Get Pay Raise (VIDEO)
AIG may have lost $8.87 billion last quarter -- and may be in need of another federal cash infusion -- but some of the company's top executives are set to get new raises, according to Bloomberg's Margaret Brennan.
Pay czar Kenneth Feinberg is reportedly open to negotiating salary changes for the insurance giant's top 25 execs, though the proposed changes would be relatively modest: while some of the executives will reportedly get raises of less than 10%, others will see their salaries slashed -- although by less, Brennan says, than in 2009, when pay was cut by about 91 percent.
The news, which Bloomberg says will be confirmed by the company sometime this month, comes a day after AIG announced the sale of its Asia unit to Prudential for $35.5 billion.
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