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  1. #1
    Merchant & ABW Ambassador
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    Post AIG - Down and out... heck, go for a spa retreat
    Looking at looming unemployment?
    Worried about your future?
    What do you do after a federal bailout?

    Nahh, don't fret. How about go spend $440,000 in a posh resort in california?

    According to CNN, that is what AIG did..

    ..its executives, complete with spa treatments, banquets and golf outings, according to lawmakers investigating the company's meltdown

    AIG sent its executives to the coastal St. Regis resort south of Los Angeles, California, even as the company tapped into an $85 billion loan from the government it needed to stave off bankruptcy. The resort tab included $23,380 worth of spa treatments for AIG employees, according to invoices the resort turned over to the House Oversight and Government Reform Committee.

    http://www.cnn.com/2008/POLITICS/10/....ap/index.html


    My first reaction, WTF
    I guess the executives have a different rule than the middle class.
    Jail them.

  2. #2
    Beachy Bill's Avatar
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    I can understand the occasional need for a "retreat." However that largess is disgusting, immoral, and hopefully illegal.
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  3. #3
    Affiliate Marketing Consultant Andy Rodriguez's Avatar
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    Disgusting and shows a total lack of respect for everyone ...
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  4. #4
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    I worked at AIG twice (actually started my career there) and I'm appalled at this latest stunt.

    Hank Greenberg was no angel himself, but he never would have approved the extreme risk-taking over the last couple of years.

    The executives should be fired and forced to pay back the expense.

  5. #5
    Full Member ske9963's Avatar
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    Ahh.. the good old boys from Wall Street sitting on the shoulders of main street
    Ma, where the beer? :escape:

  6. #6
    ABW Ambassador Boom or Bust's Avatar
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    Give em a break. With all the stress and tension they needed it for their health...



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  7. #7
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    Call me a Monkey's uncle but this is plain old DUMB

    AIG is asking for another $35 billion and the Feds just approved it today.

    We have a bunch of morons trying to fix this mess. Tax the working class so that the rich can have a good time on our penny.

    Like what CNN said, every time the Fed chairman and/or the a lame duck speaks, the Dow goes down. There was an article in Yahoo Finance, fire the clowns who are giving blank checks to the fat cat.

  8. #8

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    They should be prosecuted for mismanagement of funds. At the VERY least fired and sent to bed without any food in their tummies.

    I am sorry but I know of many people, including myself, that could have done a lot of GOOD with that $450,000 and not be selfish.

  9. #9
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    Hmmm .. That kind of spending sounds bad.

    Unfortunately, a large number of business gatherings of your worldwide top performers or top employees or top contractors or top agents, cost SIMILAR amounts.

    One has to really dig deep whether such a meeting/conference produced great returns or not for AIG despite its past blunders that led to company almost going BANKRUPT!

  10. #10
    Full Member TerriFalcone's Avatar
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    What can I say? Some of these folk won't get a clue till they find themselves pilloried in the town square hung up by their heels while small shildren trow rotten geneticly altered fruits, vegetable and eggs at them. Even if they have no concern with decency , you would think self-preservation would provide guidlines for them.
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  11. #11
    2005 Linkshare Golden Link Award Winner  ecomcity's Avatar
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    Anyone have an old fashioned medieval Wooden Stockade affiliate sales program. Shareholders and 401K holders could recover some cash by selling rotten eggs and fruits to the irate tossers.
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  12. #12
    Merchant & ABW Ambassador
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    Interesting..

    I posted in my wordpress blog and I got a response from AIG.
    (not sure if they are really from AIG but it looks legit).

    http://skewe.wordpress.com/2008/10/0...t-go-for-a-spa

    They have people patrolling blogs for damage control. My blog was not rated when it came to AIG

  13. #13
    ABW Ambassador Boom or Bust's Avatar
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    I bet they created a whole department for the task of damage control...



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  14. #14
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    It's probably legit.. on CNBC this aft, they said AIG had cancelled a scheduled upcoming meeting at a swank resort, and were reassessing all expenses. Obviously took a major PR hit with the spa story (Smoking Gun actually posted a scan of the invoice!).

    A couple of the CNBC guys said meetings should take place in a broom closet, and they should be forced to stand...

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