Washed It!

The troubled US insurance giant has bowed to demands to restructure its bonus payments to its employees.

Top level bonuses to its executive staff are to be dramatically cut this year according to a letter sent by Edward Liddy, AIG’s Chairman to the US Treasury Secretary Timothy Geithner.

The letter confirmed that 2008 bonuses would be paid because the company had no choice.  These were legally binding payouts, which were being honored despite being bailed out by the taxpayer.

It is still believed to be the biggest-ever government rescue of a US company.  American International Group (AIG) plays a key role in insuring risk for financial institutions around the world and was seen to be too important to fail.

In the letter, Mr Liddy said he had come under pressure from the Treasury to reduce the firm’s bonus payments.  He said bonuses agreed to in 2008, before the firm’s problems became known, could not legally be blocked.

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“Under the current circumstances, I do not like these arrangements and find it distasteful and difficult to recommend to you that we must proceed with them.” Said Liddy in his letter.

AIG had promised to pay hundreds of millions of dollars in bonuses to staff for the year 2008.

AIG would do its best to cut bonuses by at least 30% in 2009, Mr Liddy wrote to Mr Geithner.

Additionally US President Barack Obama’s top economic adviser has said “outrageous” conduct at AIG as the bailed-out insurance giant prepared to hand out millions in bonuses to top executives.

Lawrence Summers, director of the White House’s National Economic Council, has said the Obama administration had “scaled back” the bonuses but said its hands were tied by contract law in how far it could go.

“There are a lot of terrible things that have happened in the last 18 months, but what’s happened at AIG is the most outrageous, what that company did,” he said on US television.

But Mr Summers added: “We are a country of law. There are contracts. The government cannot just abrogate contracts.

“Every legal step possible to limit those bonuses is being taken by (Treasury) Secretary (Timothy) Geithner and by the Federal Reserve system. And they have, as a result of Secretary Geithner’s efforts, been scaled back.”

A white paper prepared by the company says that AIG is contractually obligated to pay a total of about $165 million of previously awarded “retention pay” to employees in this unit by March 15. The document says that another $55 million in retention pay has already been distributed to about 400 AIG Financial Products employees.

Mr Liddy has reportedly told Mr Geithner the bonuses cannot be cancelled due to a risk of lawsuits for breach of employment contracts, and AIG risks an exodus of senior employees if it does not pay out bonuses.

Mr Summers appeared to lend some credence to that argument.  “There is one other reality we have to recognize, which is that these companies have to be enabled to function, if the government is going to maximize the prospect of getting its money back.”

Massive losses at the division in London have forced the US government to pump about $150 billion into crippled AIG, and it is planning another emergency injection of $30 billion.

Condemnation of the planned bonuses came from both sides of politics.  “It is an outrageous situation,” Senate Republican leader Mitch McConnell said, while accusing the Obama administration of dodging culpability.

Naples Junk Removal

Do you need trash or junk removed from your office or home? Are you having your home or office remodeled and need a dumpster but don’t want a dumpster sitting in front of your home or place of business? Then call the experienced crew at Big Blue Clean Up Crew today for an estimate regarding your trash removal in the Naples and Fort Myers areas today. We also cover the entire Southwest Florida area, including Marco Island to Charlotte Harbor.

All of our crew members are uniformed, licensed, and insured. Can you only be at the office or at home at a certain time? That’s fine. We offer a specific pickup time rather than a large time frame (i.e. 1-5pm) for you to wait.

What do we remove? Our junk removal service includes removing bulk trash items such as appliances, furniture, sheds, spas, lawn and land cleanup and much more. We have removed debris from demolition sites and much more in the commercial realm of things. The Big Blue Clean Up Crew offers flexible hours for the pickup and removal of trash and other bulk items, we also offer flexible scheduling times, a quick turnaround time, we also specialize in small pickups, we do not place a dumpster on your property and we do all of the loading for our customers.
Our motto is “You call, we haul.” If you call us to remove anything from your home or office, don’t touch a thing. We will do all of the work for you, we don’t expect to show up and see the item or items waiting for us on the curb.

If you need an armoire removed from your bedroom, we will remove it ourselves. If you need a washing machine removed from the basement, we will take it up the stairs  ourselves, we never expect you to do a thing. That is why you hired the Big Blue Clean Up Crew, to perform the Naples trash removal for you.

One of our most popular services is our interior and exterior ‘junk outs’ in the commercial world. What is a ‘junk out?’ A ‘junk out’ is when our experienced and professional crew takes all of the junk out of your office when you are moving locations or selling the business and no longer need everything in the office.

Contact us today about our trash removal services before you begin dragging furniture or heavy appliances around your house. We can remove almost any piece of trash or junk from your house or your office.

The following blog post is form a page on the BBCC website. BBCC basically does an assortment of services from moving and junk removal to window and home cleaning. The below post was actually written by a content writter I found in sitepoint, I’m not sure that I will use them again because I wasn’t really too happy with the content. The text you see below is not the real thing, it’s what I have edited to make presentable. The stuff he sent me was really bad.

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Keeping your house clean on the inside is a tough task to tackle in and of itself, as is making sure the outside of your home is clean. Pressure cleaning a house can be long, tiresome, and difficult if done on your own. But if you hire the Big Blue Clean Up Crew, you won’t have to worry about anything. No job is too big or too small for our professional and experienced staff to handle.

We offer our current clients and prospective clients a free estimates for the jobs they need done. BBCC pressure cleaning includes maintaining residential properties with routine cleanings that usually amount to two cleanings per year. Some houses need more than that and some houses might need less than that.
The Big Blue Clean Up Crew services the areas of Naples, Cape Coral, Fort Myers, Bonita and everywhere in between.

We recommend that you have pressure cleaning performed on your sidewalks, decks, driveways, gutters, roofs, cages, soffit and fascia. All of these areas outside of the home are affected each and every day by the weather and should be cleaned on a regular basis. We use a lift to clean our customers’ roofs and do not let our crew members walk on anyone’s roof, for any reason at all.

What does BBCC pressure cleaning accomplish? Pressure cleaning will help to remove grout, dirt, and those ugly black lines on the siding of your home. All of those things develop over time because of the rain, water, sun , and humidity of South Florida. When it rains and the winds pick up, dirt is strewn about and it lands on the siding of your home, creating a scum-like coating. The only way to get rid of this dirt coating is to pressure wash the outside of your home, it will not go away with a simple rainfall. Why? The reason is that the rainfall is not strong enough to do the job. Pressure washing machines pump water with cleaning chemicals onto the house with a strong pressure. This pressure helps to remove the dirt and clean the home.

If you are looking for a professional, experienced and dedicated crew to pressure wash your home, driveway, sidewalks and more, contact the Big Blue Clean Up Crew to schedule a consultation today. We offer our current and prospective clients free estimates for the work that you need done. We also offer our customers bundled services. If you need more than one thing done at once, ask us, and we will put together the perfect package for you. These bundled packages can help save you time and money.

Source: naples pressure cleaning | naples lawn care | naples home cleaning | naples trash removal