Comments on: AIG Execs Caught Wasting Even More Of Our Money After Bailout.

By: 10 More Working Days Till Blogging Career Sunday Links | No More Bad Debt

10 More Working Days Till Blogging Career Sunday Links | No More Bad Debt — Thu, 23 Oct 2008 19:31:26 +0000

[...] wonder how long this will last but looks like AIG spent another $86,000 of our money, so says My Two [...]

By: 10 More Working Days Till Blogging Career Sunday Links | Credit Card Information

Mon, 20 Oct 2008 01:27:37 +0000

[...] wonder how long this will last but looks like AIG spent another $86,000 of our money, so says My Two [...]

By: Chris Hunter

Chris Hunter — Sun, 19 Oct 2008 04:42:09 +0000

I sent David the link and I was simply blown away at the audacity of this company.

And why hasn’t any government official stepped into the offices of this company and begun controlling what is done with our money?!

This is ridiculous!

By: Matt @ Steadfast Finances

Matt @ Steadfast Finances — Sat, 18 Oct 2008 16:22:50 +0000

I’m with David and Ben here. I’ve participated in sales meetings such as this, and I can directly relate as a person who was rewarded as a out-performer who received a few freebie vacations in Cancun for my efforts.

That said, our company was not forced to go begging to Congress b/c our managers were incompetent fools asking Joe Public for loans, destroying the value in our company stock, or taking us to the precipice of bankruptcy.

Public relations nightmares like this have a way of staying with you, and AIG will be tainted for many years to come b/c of this day spa fiasco.

By: Ben

Ben — Sat, 18 Oct 2008 06:44:14 +0000

@Matt – I must respectfully disagree with you. While I know that many private companies do this, it’s obsurd to excuse the actions of AIG, just because it may or may not be something they do to reward their salespeople. It’s managing with reckless abandon like this that got them in the tight spot that they are now.

@Tim – I must also respectfully disagree with you. Regardless of what they might have already paid in deposits, I am quite sure it’s far less than $86K. Don’t forget that this is OUR money that AIG is spending and living the high life.

While I believe we should have let these companies go down in flames, what’s done is done. You better believe that I am not going to let my Representatives who voted in favor of this off the hook come Election Day.

By: david

david — Fri, 17 Oct 2008 19:49:44 +0000

Which would have been a lot less than $86K.

By: Tim

Tim — Fri, 17 Oct 2008 19:41:36 +0000

People also need to understand, though, that these kinds of events have already been paid for in advance. If you do cancel, you are losing whatever deposits and reservations you have already paid.

By: david

david — Fri, 17 Oct 2008 15:50:40 +0000

This was planned before the bailout and could have been canceled just to be politically correct in these times. It is bad form to keep spending money like this, when A. you could wait a while to do it, and maybe not go right after your company goes practically bankrupt and B. you were just given billions in taxpayer money.

By: Matt

Matt — Fri, 17 Oct 2008 15:37:40 +0000

I’ve subscribed to your blog for a while, but recently I have been finding myself disagreeing more and more. Yes, AIG went on a 440K retreat, but if you actually read more than just the headlines, you would see that only 10 AIG employees actually went. It was a reward trip for the top independent agents. Without perks like these for independent agents, AIG wouldn’t be able to be competitive with these tops agents. Like it or not, its the only way for a business to be competitive.