JERSEY CITY – NJ Citizen Action (NJCA), a citizen watchdog and advocacy coalition, is planning to hold an “informational picket” in front of the Jersey City office of financial company American International Group (AIG) on Friday at noon.
The AIG office is located at 101 Hudson St. in downtown Jersey City.
The picket is to urge AIG to rescind bonus awards and take back bonuses already paid to executives. AIG has received at least $120 billion in bailout money from the federal government since last year to cover their financial losses.
Citizen Action says they are complaining because AIG has promised $475 Million in bonuses to employees of the Financial Products Unit even though that unit was instrumental in causing the company’s losses, and CEO Robert Benmosche will receive the highest payout of any chief running a bailout company — $10.5 Million, they say. – RK