AIG - don't ya just love it???

[pomtzu]

Our tax money is bailing out AIG (and others), and their top executives continue to party-hardy in the guise of "training seminars"!!! My blood was boiling when watching the reports on the news last night and this morning of their latest "seminar" - fine hotels, coctail parties, fancy dinners, spas, limos, etc. Is anyone going to bail out the odinary homeowner that is having trouble meeting his mortgage payments and is in danger of losing his house? I think not!!!!! :mad::mad::mad:

[Lady's Human]

Actually this news is at least a couple of weeks old. The were hammered by Congress and raked over the coals in the press, and rightfully so.

[pomtzu]

Actually this news is at least a couple of weeks old. The were hammered by Congress and raked over the coals in the press, and rightfully so.

I must have missed that a couple of weeks ago. Their hammering and raking over the coals didn't amount to more than a slap on the hand, since they have been awarded another 40 million! :rolleyes:

[Catty1]

Oddly enough, I got an offer in the mail from them...and I am in Canada. Also, I don't think I ever dealt with them or contacted them in the past, so I am kind of baffled.

But I used the postage paid envelope and sent a note saying "take me off your list".

I guess if they tank, it was this one last rejection that did it? :p;)

[Lady's Human]

Those postage due envelopes go to a lockbox company, where the employees open them, and the legit applications/replies get processed, and the rest go in the trash.

[Catty1]

Well, LH - from the sounds of it, they won't be sending out much more mail....;)

[Lady's Human]

THey live by direct advertising. If it wasn't effective, they wouldn't do it.

Also, given the amount of insurance policies they hold or control, we better hope they find their way out of this.

Then we need to have a chat with the Federal Govt. about monopolies........

[Grace]

Actually this news is at least a couple of weeks old. The were hammered by Congress and raked over the coals in the press, and rightfully so.

No, Pomtzu is correct, there was another incident just last week. From US News & World Report -

AIG Reportedly Sent Execs to Another Luxury Resort
November 11, 2008 11:48 AM ET | Luke Mullins

Here’s one that will have lawmakers in Washington, D.C. foaming at the mouth: AIG reportedly sent executives to another get-together at a luxury resort last week. You’ll recall that AIG took withering criticism several weeks back for sending executives on a fancy junket to a West Coast resort. (The company changed its get-together policy as a result.)

This gathering reportedly took place at that same time that AIG was begging the Feds to give it additional bailout cash. The government did just that yesterday, increasing the struggling insurance giant’s rescue package to more than $150 billion, up significantly from the original $85 billion loan.

[Lady's Human]

Being that they were already hammered once...

Wouldn't want to be an AIG exe when congress returns to business.

[pomtzu]

No, Pomtzu is correct, there was another incident just last week. From US News & World Report -

Thank you! I didn't think I was losing my mind! It was all over the news last night and this morning and I seriously doubt that they would have been reporting 2 week old news! :rolleyes:

[Lady's Human]

I wouldn't doubt someone reporting 2 week old news, especially with the current (well deserved) disgust with some of the financial firms.

[Karen]

Actually, it is a new story today, after the events two weeks ago, there has been another "conference" on which over $300,000 was spent, this one in Arizona, and Monday, they got more money:

http://ap.google.com/article/ALeqM5ioHc80xKMiATnqCpK0cDKJzk_nPQD94CCUF00

[Medusa]

Yes, I saw the new story yesterday and again today. They're were attending yet another conference w/all the amenities that Ellie mentioned and they weren't wearing their ID tags while in attendance because they said that they were being harrassed , poor babies.

[gini]

Last night on the evening news they reported that AIG told the hotel to NOT say they were there. Then they showed one of the executives coming out of the gym when he was supposed to be at the seminar.
It also showed the limosines and the expensive dinners at good restaurants.

Maybe their last HURRAH???? I doubt it.

[Grace]

Thank you! I didn't think I was losing my mind! It was all over the news last night and this morning and I seriously doubt that they would have been reporting 2 week old news! :rolleyes:

You're very welcome. We former Rhode Islanders should stick together whenever possible :)

[Lady's Human]

Just got done reading a fairly extensive CNN.com story on this, it seems that it was a sales/promotion seminar for customers, most of which was paid for by the customers.

http://www.cnn.com/2008/POLITICS/11/11/aig.conference/index.html

CNN has been none too kind to AIG and others through this, so it sorta makes you go "hmmm....."

[pomtzu]

Just got done reading a fairly extensive CNN.com story on this, it seems that it was a sales/promotion seminar for customers, most of which was paid for by the customers.

LH - sounds like you're defending them! If it was paid for by customers, why did they try to hide the fact that they were there - telling the hotel employees to "play dumb" - refusing to talk to reporters????? Somebody's hiding something.............and it doesn't take a genius to figure that one out!:rolleyes:

[Lady's Human]

Defending them? No. Just very skeptical about the coverage.

When a company (or a union) is under fire for extravagant spending, sometimes they go to extreme lengths to make everything appear kosher, only to shoot themselves in the foot.

As was explained in a union meeting, costs for these events are normally pre-paid, and whether you cancel or not, you don't get the money back.

Damned if they did, damned if they didn't.

[pomtzu]

Defending them? No. Just very skeptical about the coverage.

Damned if they did, damned if they didn't.

I have to think that you're with the minority if you're skeptical about what's taking place with the media coverage. Sorry - but if it was above board - no one would have been stupid enough to try and hide it. And to borrow a fairly recent quote that seems fitting in this case - "put lipstick on a pig and it's still a pig".

[Lady's Human]

As has been proven time and time again, it's not the act that causes trouble, it's the coverup-perceived or real that causes problems.....


Yet it still happens.