Welcome to the Business World, Jake DeSantis!
Upon reading A.I.G.’s Jake DeSantis’ resignation letter one is almost moved to feel sympathy for a man who felt “duped” by company management, and anger towards a firm that did not fulfill its “commitment.”
As sympathy fades, one focuses on the fatal flaws with Mr. DeSantis’ logic, along with his isolation from a corporate world most of us live. Yes, Mr. DeSantis worked for a portion of A.I.G. that was profitable, but management views the whole in financial terms, not fragmented or decompartmentalized parts. This is why it is important for employees to consider themselves part of the whole, and concerned if a segment of their company is not performing well. As the saying goes, “we are as strong as our weakest link.”
In short, an employee is an agent of the entire company, and much like King Solomon’s test, cannot be cut in half. In dire situations, a company files bankruptcy not on a segment of their firm, but on the company as whole. As an executive Vice President, Mr. DeSantis should know he worked not for A.I.G. Northeast, or A.I.G. Southwest, but A.I.G. period; one Federal Tax ID number, one company.
It is understandable Mr. DeSantis’ pride is irked, but perhaps a few months’ reflection will set in on where he made his errors. First, being that he was able to work for $1.00 a year, unlike 98% of America, means he was well compensated in years past and has the luxury to be part of an ivory tower culture of waiting for the pot of gold at the end of the rainbow. Has he any gratitude for A.I.G.’s past compensation, or is it all about “what have you done for me lately?” The fact Jake is in a position to “give back” his “bonus” attests to A.I.G.’s past benevolence.
As for A.I.G.’s “lying,” welcome to corporate America, the kind us working class have experienced for many years. However, in this age of enlightenment and spirituality, this could be construed as A.I.G. engaging in the power of positive thinking; management gave a rosy scenario because negative ones insure failure. Perhaps they felt past year’s extravagant remuneration deserved a level of loyalty, if not pay back?
If there is a lesson for DeSantis, he will learn, in financial terms, to reduce his exposure by joining us mere mortals, accepting a salary each and every week, forgoing the variability of a pay out in the end. Join workers who experience rainbows in black and white, if we enjoy them at all. As the clichés goes, “a bird in the hand is worth more than two in the bush.” Mr. DeSantis wants the best of both worlds: paid like an Executive, but when things go wrong, employing the rules of the working class?
However the most affronting assertion in Mr. Desantis’ resignation rant where he loses any popular support is he was due a “bonus” from a firm that was bankrupt; in short, he wanted his bonus to come from OPM; other people’s money, an ethic strongly adopted and utilized by the Wall Street elite (the reason we are where we are). This smacks of sheer arrogance bolstered by outright naiveté, and blind ego.
Or is this a measure of Jake’s one way commitment, and part of his lie?
David DiBello