AHM executives to get $9 million in b...

AHM executives to get $9 million in bonuses

There are 29 comments on the Newsday story from Nov 30, 2007, titled AHM executives to get $9 million in bonuses. In it, Newsday reports that:

American Home Mortgage Investment Corp. can pay $9 million in bonuses to executives of the failed company, a bankruptcy judge has ruled.

Join the discussion below, or Read more at Newsday.

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Former AHM Employee

Lake Ariel, PA

#1 Nov 30, 2007
What about the money owed to the rest of the employees? We can use the money more than the execs. We have to file a claim and hope for the best.
Tim Neer

Riverhead, NY

#2 Nov 30, 2007
Johnson is getting $247,100??? Where's my money bitch?
PERFECT TOMMY

Dumont, NJ

#3 Nov 30, 2007
Bonuses for motivation? how about the threat of jail?
sam sung

United States

#4 Nov 30, 2007
it shows once again it pays to be corrupt !!!!
Former AHMer of Melville

Riverhead, NY

#5 Nov 30, 2007
...and the rich get richer. You have got to be f'n kidding me. We were let go on August 3rd and our benefits were terminated at midnight that same day. We were screwed out of our vacation and sick time as well. So while some of us have struggled to get our lives back in order, we continue to hear how these exec's who brought down the company to begin with - are still getting paid big bonuses. I was on the "retention team" and it was a joke. There was no leadership and no direction. The employees came in and had no work to do. I caught up on my correspondence and basically finished my Christmas shopping on line and on company time. Luckily I found new employment and I am out of that mess, but I hear from ex-coworkers that there are still plenty of good people out of work and out of luck. I hope you exec's can sleep at night knowing that your bank accounts are getting fatter while the other 7,000 of us continue to struggle. Once again a big F.U. to the blue collar worker.
What goes around comes around, bitches.
John Q Public

Melville, NY

#6 Nov 30, 2007
Quote: "AHM said the bonuses were necessary to keep executives motivated as the lending operation shuts down in bankruptcy."

I guess the average rank and file employee didn't have such problems. They figured they were going to be out of work and have financial problems but, they didn't mind- they were motivated and "up to the challenge....".

Our society had better fix the excesses of executive compensation in this country or there will be a revolution.
Jay

San Jose, CA

#7 Nov 30, 2007
Typical bull!@#$ Somebody should end up in Jail! not depositing $$ in their bank
dave

Bronx, NY

#8 Nov 30, 2007
Tim Neer wrote:
Johnson is getting $247,100??? Where's my money bitch?
a $247k bonus for a couple months work? this freaking guy was the reason the company went under and hes getting rewarded...jerkoffs!
angela

Wood Dale, IL

#9 Nov 30, 2007
I dont find this surprizing at all. AHM is on the cutting edge when it comes to looking out for certain people.
Pigs at the trough

Port Washington, NY

#10 Nov 30, 2007
Hogs get slaughtered.
gary x ahm lo chicago

Glenview, IL

#11 Nov 30, 2007
Go figure....The staff and lo's who made the money for this company get yet another slap in the face. If it wasnt hard enough to watch the money i had in options and stock dwindle away to worthless paper, and the un-explainable excuses we all had to suffer thru with our relationships, Now our great judicial system awards these boneheads with a "well earned" motivational bonus. I hope all you remember like i will ,these names and faces when you run across them in this industry... somewhere, someday. And hopefully they will have to go thru what we all did. Wishful thinking !
Merry frickin$ Christmas
Another Mom

Brooklyn, NY

#12 Nov 30, 2007
I guess the question here is why did the courts approve this?!?
FORMER AHM 520

AOL

#13 Nov 30, 2007
We made the money so Bob Johnson can look good. Is he planning to split his share with the Loan Sales people. He does not need it, he is loaded. Was the Judge bought? So when will the employees be paid the vacation time that was owed to them they did not use, so that Loan Sales can make money so Bob Johnson can look good on selling loans to the Investor. This bonus should be divided with the staff that worked for him. Yet another bunch of crap again coming out of AHM. I wonder how the Top Executives feel knowing that because of their stupidity many former AHM 'GOOD EMPLOYEES'S' are still out of a job. And this is yet another slap in the employees face. Thanks Michael Strauss and your executive staff another job well done.
FORMER AHM 520

AOL

#14 Nov 30, 2007
I GUESS JUDGE SONTCHI WAS CONSIDERING THE EXECTUIVES BENEFITS FIRST RATHER THAN THE STRUGGLING EMPLOYEES - THEY WERE NOTHING THEY WERE JUST WORKERS.
EVEN THE COURT SYSTEM FAILED THE AMERICAN HOME EMPLOYEES - WHAT ELSE IS NEW? WHO IS REPRESENTING THE EMPLOYEES INTEREST NOW?
Another Mom

Brooklyn, NY

#15 Nov 30, 2007
Maybe you should contacts the courts and tell them just that!!!
Ex- AHM employee

AOL

#16 Nov 30, 2007
The other crime going on now is the "skeleton clean-up" crew that is currently still there. They haven't had any work to do for months. They go in and do nothing but STEAL money (benefits + salary with a 40% bonus) from the remaining assets. But who's going to say anything? Why would they tell the bankruptcy court that they are done...which will only lead to them getting laid off like the rest of us. They claim they "need" to be there until at least March. Are you kidding me? For what? You are all thieves!! And in the middle of doing nothing in September, they got approval to hire back 40 more ex-AHM'ers so they scrambled to call their buddies back to sit and do nothing with them. I hope they all choke on the money they are stealing. What independent bankruptcy party is overseeing this mess?
missy

Brooklyn, NY

#17 Dec 1, 2007
Ex- AHM employee wrote:
The other crime going on now is the "skeleton clean-up" crew that is currently still there. They haven't had any work to do for months. They go in and do nothing but STEAL money (benefits + salary with a 40% bonus) from the remaining assets. But who's going to say anything? Why would they tell the bankruptcy court that they are done...which will only lead to them getting laid off like the rest of us. They claim they "need" to be there until at least March. Are you kidding me? For what? You are all thieves!! And in the middle of doing nothing in September, they got approval to hire back 40 more ex-AHM'ers so they scrambled to call their buddies back to sit and do nothing with them. I hope they all choke on the money they are stealing. What independent bankruptcy party is overseeing this mess?
Maybe you need to show up at these court dates and tell them exactly how you feel...

Are the people who were retained supposed to just quit!!! They were not let go....Then where would that leave them as far as unemployment? Maybe some of them have no other choice?
Sun Of The Beach

Bridgeport, CT

#18 Dec 1, 2007
Whats this lame bastard judges cut?
Investigation

R Tuffy
FORMER AHM 520

AOL

#19 Dec 1, 2007
missy wrote:
<quoted text>
Maybe you need to show up at these court dates and tell them exactly how you feel...
Are the people who were retained supposed to just quit!!! They were not let go....Then where would that leave them as far as unemployment? Maybe some of them have no other choice?
The people who were keep were just the choosen few. A few of them are "air-heads" however, what loans are they selling? Does Judge Sontchi knows that the choosen few are still selling loans. And who are they selling these loans to? I am so fed-up over this, I have moved on, but to think that these SOB are getting 'bonuses'. Is the employees on the list for bonuses next? Many good ex-AHMers did not deserve this. It's ashame that some of them up to now are unable to find jobs, perhaps they should rotate with the ones that were not let go - so that everyone can have a share of the pie. Rather than sitting at 538 reaping the benefits. They should now be on the unemployment line and take some of those that are still out of work and put them at 538 so they can earn some money too. Perhapss the stupid person that is running the show should think about that, but then again she was a waste of space. What goes around comes around people, I pray some of you never cross my path, but we will because the world is small and we will see who will have the last laught.
FORMER AHM 520

AOL

#20 Dec 1, 2007
Ex- AHM employee wrote:
The other crime going on now is the "skeleton clean-up" crew that is currently still there. They haven't had any work to do for months. They go in and do nothing but STEAL money (benefits + salary with a 40% bonus) from the remaining assets. But who's going to say anything? Why would they tell the bankruptcy court that they are done...which will only lead to them getting laid off like the rest of us. They claim they "need" to be there until at least March. Are you kidding me? For what? You are all thieves!! And in the middle of doing nothing in September, they got approval to hire back 40 more ex-AHM'ers so they scrambled to call their buddies back to sit and do nothing with them. I hope they all choke on the money they are stealing. What independent bankruptcy party is overseeing this mess?
I absolutely agree with you I hope the "clean up crew" choke on the money they are getting because rightfully who are they selling loans to, perhaps Judge Sontchi needs to find out? The money they are getting should have being divided and given to the employees that are owed vacation time. But instead it been paid to people to sit and do nothing all day. This is what put the company in bankruptcy and it is still going on. Wake up Judge Sontchi. Smell the coffee.
AHM STOLE MONEY FROM THE 6000+ EMPLOYEES BY ROBBING AND CHEATING THEM OF THEIR 'EARNED' VACATION. AND TO THOSE OF YOU THAT ARE STILL THEIR, YOU ARE ALL STEALERS TOO.

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