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FAIRFIELD, Conn. (AP) - Pillars of the community are now pariahs fearing for their safety in a ritzy area of Connecticut home to many executives at American International Group Inc. (AIG), hit with a backlash over bonuses it paid to top brass even as it accepted federal bailout money.

The payouts to executives appear to have helped put a face on the economic struggles the country faces, and the anger targeting AIG is palpable. Death threats have been pouring in since the brouhaha broke, the company said, and its workers are taking no chances.

"It's scary," one executive said, speaking on condition of anonymity because he feared retribution. "People are very, very nervous for their security."

The financial products division is in Wilton in Fairfield County, and many of the company's leaders live in large homes on the "Gold Coast," an area known more for golf courses and sweeping views of Long Island Sound than for the police cars that now regularly patrol the well-kept streets.

Corporate officials advised employees in a memo posted on Gawker.com to avoid wearing the company logo, in an effort to keep from drawing attention. Workers were also urged to travel in pairs at night and park in well-lit areas.

And typifying the preoccupation with the AIG payouts, a busload of activists plans to drive by executives' houses Saturday in an attempt to deliver letters highlighting the strife of ordinary families in the recession and seeking solutions for economic recovery.

AIG said Friday that at least three executives who received bonuses planned to return the money, including James Haas and Doug Poling, both residents of Fairfield County.

Organizers of the bus protest noted that there are no plans to trespass and that only a small group planned to get off the bus at each stop.

The protest is an attempt to let people suffering from loss of jobs or homes tell their stories directly to AIG executives, said organizer Jon Green, director of Connecticut Working Families, a coalition of labor unions and other groups.

"There is a human cost to the economic meltdown that we're experiencing," Green said.

Security companies in New York say the financial crisis has created brisk business in everything from bomb-sniffing dogs to bodyguards for executives. The firms didn't want to identify the companies for security reasons.

Pat Timlin, president of the Michael Stapleton Associates, which provides dog teams, said some companies are reacting to the negative atmosphere surrounding Wall Street firms.

"These are people used to living private lives, and are now faced with publicity and attention, often negative attention, and they're worried and responding to that," Timlin said.

Tim Horner, the managing director at Kroll Security, said the financial industry is taking any perceived risk much more seriously. He has seen an increase on the human resources side of security from companies concerned about hostile laid-off employees.

He has also seen more companies reacting to the very public criticism of once very private companies like AIG.

"There are corporations that have been spotlighted as those responsible or whatever, where they weren't before, and it's a concern," he said. "What's going on here is the stress that individuals and corporations are facing, given a downturn economy. The problems are highlighted more during this time."

Horner said AIG seems to be responding prudently to a corporate security risk.

Ivytalk wrote:"Very private companies like AIG?" WAFJ. Last I looked, AIG was a public company, and with that status come certain disclosure obligations. There was a big decision down here in DE about a month ago against AIG and, if the allegations of the complaint are true, those guys were hiding a lot of illicit stuff for years.

travelinman67 wrote:The higher the potential gain, the higher the risks taken...

...or did they skip out on that lecture in Business School...

AIG bonus outrage has employees living in fear

Mar 20, 5:22 PM (ET)
By JOHN CHRISTOFFERSEN

http://apnews.myway.com/article/20090320/D9720I901.html

FAIRFIELD, Conn. (AP) - Pillars of the community are now pariahs fearing for their safety in a ritzy area of Connecticut home to many executives at American International Group Inc. (AIG), hit with a backlash over bonuses it paid to top brass even as it accepted federal bailout money.

The payouts to executives appear to have helped put a face on the economic struggles the country faces, and the anger targeting AIG is palpable. Death threats have been pouring in since the brouhaha broke, the company said, and its workers are taking no chances.

"It's scary," one executive said, speaking on condition of anonymity because he feared retribution. "People are very, very nervous for their security."

The financial products division is in Wilton in Fairfield County, and many of the company's leaders live in large homes on the "Gold Coast," an area known more for golf courses and sweeping views of Long Island Sound than for the police cars that now regularly patrol the well-kept streets.

Corporate officials advised employees in a memo posted on Gawker.com to avoid wearing the company logo, in an effort to keep from drawing attention. Workers were also urged to travel in pairs at night and park in well-lit areas.

And typifying the preoccupation with the AIG payouts, a busload of activists plans to drive by executives' houses Saturday in an attempt to deliver letters highlighting the strife of ordinary families in the recession and seeking solutions for economic recovery.

AIG said Friday that at least three executives who received bonuses planned to return the money, including James Haas and Doug Poling, both residents of Fairfield County.

Organizers of the bus protest noted that there are no plans to trespass and that only a small group planned to get off the bus at each stop.

The protest is an attempt to let people suffering from loss of jobs or homes tell their stories directly to AIG executives, said organizer Jon Green, director of Connecticut Working Families, a coalition of labor unions and other groups.

"There is a human cost to the economic meltdown that we're experiencing," Green said.

Security companies in New York say the financial crisis has created brisk business in everything from bomb-sniffing dogs to bodyguards for executives. The firms didn't want to identify the companies for security reasons.

Pat Timlin, president of the Michael Stapleton Associates, which provides dog teams, said some companies are reacting to the negative atmosphere surrounding Wall Street firms.

"These are people used to living private lives, and are now faced with publicity and attention, often negative attention, and they're worried and responding to that," Timlin said.

Tim Horner, the managing director at Kroll Security, said the financial industry is taking any perceived risk much more seriously. He has seen an increase on the human resources side of security from companies concerned about hostile laid-off employees.

He has also seen more companies reacting to the very public criticism of once very private companies like AIG.

"There are corporations that have been spotlighted as those responsible or whatever, where they weren't before, and it's a concern," he said. "What's going on here is the stress that individuals and corporations are facing, given a downturn economy. The problems are highlighted more during this time."

Horner said AIG seems to be responding prudently to a corporate security risk.

You fv(k up...lose 45% or more of a person's life savings, then pull a bonus and call it a day?


Excuse me?

All the Wall Street execs who screwed up and plundered their clients' wealth...who are now sleeping with one eye open, stressed, wondering what tomorrow will bring...will they still have a job...is their life on the line...will their family be provided for if something bad befell them...

...now live with the same fear every middle class American who's lost their job and their home feels...