Caught on more "retreats" http://abcnews.go.com/Blotter/WallStreet/story?id=6223972&page=1 I say pull the plug on these A-Holes and let the company die a quick death. Way to go taxpayer money! Let's pump another $25B into them!! MORONS!!!
I haven't gotten the facts on this yet but I can assure you the story is not what it seems. It's sensationism and the true story will come out. Unfortunately, most people will react like Rex and AIG is extremely sensitive to perception. IF there were irregularities, those responsible will never see another day of employment at AIG. Every dollar is being accounted for and NOTHING is going to happen without the express approval of Senior Management. Even necessary meetings are being cancelled in the name of saving dollars. Believe me when I tell you that AIG is not out there squandering money. The bailout is serious business and if you want to get fired, just go book a flight or rent a car without clearing it through multiple levels. As an AIG employee, I am incensed that this is out there because we are trying very hard to make this company viable again and to win our good name back.
Edit: Link may not work: Here's the text: AIG RESPONDS TO MISLEADING NEWS REPORTS NEW YORK, November 11, 2008 –Edward M. Liddy, Chairman and Chief Executive Officer of American International Group, has issued the following statement: “Recent news reports have grossly mischaracterized an American International Group seminar for 150 independent financial planners held in Phoenix last week. The financial planners are not AIG employees. In addition, the cost to AIG for this event was minimal. More than 90 percent of the costs were paid either by sponsors or by the independent financial planners themselves. It is essential for AIG to conduct seminars of this kind to keep independent financial planners abreast of investment products and services including those offered by AIG. The financial planners are responsible for generating almost $200 million in revenue this year for AIG as of September 30th. On October 10, I issued a directive to all AIG employees and subsidiaries to reduce expenses and conserve cash, including cancelling all nonessential conferences or meetings, unnecessary travel and excessive overhead. Since then, we have canceled more than 160 events. We conducted a top-to-bottom review of all expenses of the Phoenix meeting in advance and found that it was consistent with my October 10th directive. This conference was approved because it provides the kind of communication we must conduct with the people who sell our products if we are to be successful and repay the U.S. taxpayer.”
Watch the vid. AIG sr mgmt even commented on this. And right.. The "sponsors" picked up the tab then why are they hiding their name? Anybody else smell the fish..
You smell the fish because you want to smell the fish, Rex. If you want to believe a sensationalized news story, I'm not going to change your minds. All I can do is lay out what I know, and, believe me, I know that a "junket" of the type described by Brian Ross, would absolutely not happen. Rant and rave all you want, but if you are at all interested in the facts from an inside perspective, please feel free to let me know.
Let's hear it from the AIG employee. Nice and biased.. "A company spokesperson, Nick Ashooh, confirmed AIG instructed the hotel to make sure there were no AIG signs or mention of the company by staff. " "We're trying to avoid confrontation, keep our profile low," said Ashooh. "Some of our employees have been harassed." If you are AIG and no know people are watching you even taking this "sponsored" paid retreat should be looked down upon. They don't deserve luxury and should have asked their "sponsors" to help pay their tab back to the US Taxpayers. What part of that don't you get?
The low profile is because of a-holes just like you who want to find wrong doing when none is there. This wasn't a retreat. It was a seminar for financial planners who make a lot of money for AIG. It's called running the business because AIG is not pocketing the Fed money and laying down on the job.
Awww did I make you upset. Wasn't a retreat?? Did you look at the hotel?? Did you see the bill????? If they were worried about running a business they wouldn't be begging the Taxpayers for money!
