View Full Version : Wheres the rope? I think we need to start some lynching..
xRadical_Wankerx
2008-10-08, 01:12
Its good to know that AIG would never spend half a million dollars on a after party following the bail out... or wait..
http://www.youtube.com/watch?v=1JRJVlg6X7s
somerlost
2008-10-08, 04:15
I'm with you on this. I am suprised that people aren't shooting CEO's, bankers and stockbrockers not to mention the politicians and beaurocrats that got the bailout/giveaway through. I did read a report that the CEO of Leahman Bro's got punched out while using the company gym. Just imagine the if the news got out that CEO's who took golden parachutes or raped their co's were being assasinated. Would make a good novel. Sorry about my poor spelling.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aVXfypExIZ9M&refer=patrick.net
AIG, Castigated for Resort Event, Plans Another One (Update2)
By Erik Holm and Hugh Son
Oct. 8 (Bloomberg) -- American International Group Inc., castigated by the White House, Congress and Barack Obama for hosting a $440,000 conference days after an $85 billion federal bailout, plans to hold another gathering for brokers next week.
The event, at the Ritz-Carlton in California's Half Moon Bay, aims to ``motivate and educate'' about 150 independent agents who sell AIG coverage to high-end clients, said spokesman Nicholas Ashooh.
White House spokeswoman Dana Perino today called ``despicable'' expenses from the first gathering, a weeklong conference last month at the St. Regis Resort in Monarch Beach. Those costs included $23,000 for spa services, according to Representative Henry Waxman, chairman of the Oversight and Government Reform Committee.
AIG considered buying advertisements to explain its position, only to be told by public relations consultant George Sard that it would be ``a really bad idea.''
``To spend the taxpayer's money on an expensive ad campaign to apologize for how you used taxpayer money leaves you open to further attacks,'' Sard wrote in an e-mail to Ashooh. Sard, chief executive officer of New York-based Sard Verbinnen & Co., said the message was a private e-mail mistakenly sent to Bloomberg and wasn't intended to be a public statement.
KikoSanchez
2008-10-09, 23:47
This is something set up months and months in advance and it's always been standard in the business, you lavishly reward your top earners. Nonetheless, they probably should have had some common sense and known blowback would come from this from all the peasants. Not much can be done to cancel 100+ rooms in a week's time, without just throwing away a lot of money, but atleast cut out the unnecessary spa packages and whatnot.
BrokeProphet
2008-10-10, 00:19
Anyone know of a website that lists the names and general locations of these assholes? If you can find it, spread it around the internet, in forums, chatrooms, chain letters, etc.
You know, so a person can contact and complain.
This is something set up months and months in advance and it's always been standard in the business, you lavishly reward your top earners. Nonetheless, they probably should have had some common sense and known blowback would come from this from all the peasants. Not much can be done to cancel 100+ rooms in a week's time, without just throwing away a lot of money, but atleast cut out the unnecessary spa packages and whatnot.
"After spokespeople from the White House called the excursion at the St. Regis south of Los Angeles "despicable," AIG decided to give its side of the story.
The flailing insurance giant explained in a letter from its chairman to U.S. Treasury Secretary Hank Paulson that it was simply a "mischaracterization." The "executive retreat" only included 10 AIG employees, with the rest of the attendees being independent insurance agents. He also made sure to point out that the event was planned before the bailout took place.
What Edward Liddy failed to address in his letter is why the company didn't cancel the retreat when it realized it was going to be paying for it with the public's money."
http://www.forbes.com/markets/2008/10/08/aig-washington-retreat-face-markets-cx_lal_1008autofacescan01.html
Anyone know of a website that lists the names and general locations of these assholes? If you can find it, spread it around the internet, in forums, chatrooms, chain letters, etc.
You know, so a person can contact and complain.
This is all I have for now.
http://www.aflcio.org/corporatewatch/paywatch/
http://www.aflcio.org/corporatewatch/paywatch/ceou/database.cfm
Canceled
Outrage Leads AIG To Cancel Second Luxury Retreat
Ritz Carlton Event was Booked for Next Week
By JOSEPH RHEE
October 9, 2008
Battered by outrage over the $440,000 it spent on a luxury retreat less than a week after the federal government loaned it $85 billion dollars, the giant AIG Insurance Company says it has called off plans to hold a second retreat next week at the exclusive Ritz-Carlton Resort in Half Moon Bay, California.
The Ritz-Carlton outing, like the earlier one, was to reward top independent insurance agents, which the company called a "standard industry practice."
"I am somewhat relieved to hear that AIG has canceled their Ritz-Carlton conference, which was nothing less than a slap in the face of the American people," said Rep. Elijah Cummings (D-MD). "I cannot fathom how in the same day—the very same day—that AIG asked the government for another $37.8 billion loan, the company would even consider moving forward with plans to host another large conference at another luxury resort."
Critics from President Bush's spokesperson to Senator Obama have denounced AIG for holding an expensive retreat at a time of economic crisis. The criticism has been "demoralizing" within AIG said Nicholas Ashooh, a spokesperson for AIG, "but we have to recognize that we're in a different environment and we have to adjust to that.
AIG says it has instructed its worldwide managers to re-scrutinize how money is being spent. "We're certainly reviewing all our expenditures in light of financial circumstances and the fact that taxpayer dollars are helping to support AIG as we get through this difficult credit crisis," said Ashooh.
Despite calling off the Half Moon Bay event, AIG says it will still have to pay for cancellation fees. While the company would not specify how much money would be lost, a standard room at the Ritz Carlton, Half Moon Bay costs over $400 a night.
"We'll certainly lose some money in cancellation fees, but it's just beyond the point of trying to conduct these meetings given the uncertainty that's taking place," said Ashooh.