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AIG Isn’t Going Away

The AIG bonus situation has remained a headline issue for over a week now and it doesn’t seem ready to slip back to page seven. The outcry has been deafening as the Administration, Congress, shareholders, and John Q. Public are all calling for reform and rallying behind pay caps and a broad oversight of compensation for banks, Wall Street firms and possibly other companies that fall into their gun sights. In getting to the root of the problem, Washington over-legislates and often creates a new set of unintended problems. Do we want our most troubled corporations led by under-compensated management teams who have no incentive or stake in the short or long term outcome of the taxpayer investment in the businesses they have been asked to manage? This is a complex issue, and I am afraid that we are bound for Barney Frank legislation when we deserve more. This insightful Business Week article written by Steven Hall & Partners helpfully puts the issue in context.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.
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