Friday, July 6, 2012

Wonder How That Conversation Went?

Don’t you wish you could have been hiding in the corner when the bean counters at American International Group (AIG) went to senior management and said we want to sue the Internal Revenue Service because they owe us $30.2 million in interest from an overpayment of taxes in 1991.

That alone would not have been worth much, but just imagine – did anyone at AIG dare ask – what about the $17.5 billion the company, still owes the American taxpayers?
The U.S. Treasury Department, which runs the IRS, still owns about 70% of AIG common stock after bailing out the giant insurance company in the humongous federal bailout two years ago.

If you were responsible for the company’s Community and Public Relations, would you have, at least, pointed out how the American public might react to such a move?

The public perception is these big companies don’t care about anything but their over-sized compensation packages and to heck with the other 99%.

The sad part is they get away with it.

I am sure, if it did come up, someone said, “we’re just playing by the rules . . . we overpaid and it is our responsibility to get that money back . . . even if it is 21-years after the fact and we would not still be in business if the American taxpayers had not bailed us out.

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