Mainstream

雖然 AIG 拿紓困金發放紅利的事情
引起喧然大波
憤怒的民眾
揚言要包圍 AIG

回到事實的本質
這些高階主管真的不應該拿這些錢嗎

如果這些主管當初與公司簽訂的合約載明
無條件保障年薪 (無論管理績效如何均會給付保障年薪)
在這種狀況之下
依法公司也只能硬著頭皮付錢給這些主管不是嗎

無論大家的想法如何
還是可以學學 AIG 新任執行長
在面對排山倒海而來的壓力
還能勇敢地捍衛自己的決策

看看我們現在的執政者
一有雜音
馬上就退縮或是要訴諸民調
很難想像
這樣的執政團隊
可以帶給我們怎樣的未來

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How AIG's Edward Liddy Lived to Fight Another Day

Well, it wasn't the OK Corral — but there were plenty of shots being taken as Edward Liddy, CEO of AIG (aka the most despised business in America) strode into the chamber room to face a Congressional inquiry panel. Picketers were holding signs, Congressmen were snarling for the cameras, and public opinion was decidedly against the speaker. But as John Ydstie of NPR described it, Liddy "almost immediately began to defuse" the hostilities with his straight talk.

I would be the last one to make any apologies for AIG, which at best was mismanaged and at worst criminally so. Anyone involved in such a management fiasco should not receive bonus compensation for driving the enterprise into virtual insolvency. But Liddy is not the chief culprit; he is the CEO brought in by former Treasury Secretary Hank Paulson to rescue the company. It bears noting that Liddy receives one dollar a year in compensation. After his testimony to Congress, however, his colleagues might want to buy him dinner.

Liddy's presentation is a textbook example of how to deliver an unpopular message in front of a decidedly unfriendly crowd, something that leaders need to know how to do whether they are speaking to stakeholders or to the public at large. Here's how Liddy did it:

Share the outrage. In his prepared remarks, Liddy said, "We are meeting at a high point of public anger. Americans want to know how the country got into the financial mess we are in... I share that anger." Demonstrate understanding of how people feel and align your remarks to that point of view.

Slay the dragon. "I have asked the employees of AIG Financial products to step up and do the right thing," he said, having asked those receiving more than $100,000 to return at least half of those payments. Liddy noted that some had already given back their entire bonus, which of course, is what Congress and the American people want. By addressing the issue candidly, Liddy was able to get people to listen, even if they do not agree with him.

Accept responsibility. Liddy's remarks described AIG as making "mistakes... on a scale that few could have ever imagined possible... [T]he company strayed from its core competences in the insurance business... [and] became an internal hedge fund, which then became substantially overexposed to market risk." Did you or your company make terrible mistakes? Call yourself out for it.

Address the solution. Liddy focused the remainder of his presentation, and elaborated in public testimony, on how AIG is working with the Federal Reserve and is now owned by the American people. When delivering a tough message, a leader must focus attention on what to do next.

Stand up for your people. Liddy made it clear that those responsible for getting AIG into its mess were "gone." Bonuses were not for performance. They were for retention of employees who were "winding down" AIG's $1.6 trillion damaged assets portfolio and were in effect managing themselves out of a job. Liddy's sentiments are in direct opposition to what Congress wants to hear, but as CEO he must champion those employees he feels are doing the right thing.

Remain calm. Edward Liddy was as forthright in his tone as he was with his analysis. He did not become ruffled at tough questions; his demeanor likely took the edge off the proceedings. It is very important for leaders to exert calmness; if a leader comes unglued it gives opponents ammunition to attack and supporters no reason to follow. Liddy kept his cool.

The greedy behavior at AIG ought to serve as a Times Square video billboard for how (with apologies to Lord Acton) greed corrupts and absolute greed corrupts absolutely. But I would not put a picture of Liddy on that billboard. He demonstrated what it takes to be accountable in public and in the process demonstrate that some financial executives still remember how to be straight with the American people.

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