AIG Chief Threatens to Resign

Robert Benmosche, the chief executive of American International Group, Inc., told the board that he is "done" and is contemplating quitting a mere three months after taking the job. The issue rankling Benmosche is the constraints placed on the company by Obama administration pay czar Kenneth Feinberg ever since the company became 80 percent owned by the government after its rescue last year. Last week, Benmosche, who was particularly put out about a Treasury pay review that cut executive compensation by 91 percent from 2008 levels, joined with other board members to complain to Feinberg about how difficult it was to comply with pay policies and to retain talent. It's unclear whether Benmosche will make good on his threat, as he swore he'd step down in August over a pay kerfuffle with the Treasury Department, a feud that ended when the Treasury finalized his $10.5 million package, the largest approved under the recent rules on executive pay.