July 2, 2008
Aig Insurance pays $47 Million Severance Package
AIG Insurance Company, stated they paid a $47 million severance package to the former Chief Executive, Martin Sullivan, whose resignation took effect Tuesday. Sullivan left his position in mid-June after a couple quarters of record losses.
The report also states Sullivan, who worked for AIG 37 years, also will be provided an office and an assistant until the end of the December. Some people just love to work.