AIG spends $500,000 dollars after bailout at St. Regis Monarch Resort

[a1cd]

Wow... That is just messed up, this is Taxpayer money
http://www.youtube.com/watch?v=1JRJVlg6X7s

200k for hotel rooms, going for around $400 a room/night.
20k on spa treatment
the list goes on..

:evil:

[13sundin]

wow...

[chrza]

god bless america

[AcidBomber]

corruption! :evil:
Just let them die, we're screwed either way, bail or no bail makes no difference right now.

[ipxxx]

so what's leisure dining? :confused:

[Firebot]

so what's leisure dining? :confused:

Dining with an escort feeding you:p.

[ji2o0k]

hell if I was an executive at AIG, I would be doing the same thing.......burning through as much money as I could.

The money ain't mine, might as well spend it. What is the worst that can happen? The company goes under? Ooppps....been there, done that.....the US Gov't will bail me out.

Plus, if you fire me I get my golden parachute....
so what's leisure dining? :confused:
oh you know, the mini-fridge, room service that kind of stuff....:twisted:

[blakjak]

With the extra money they'll get from the bailout, maybe next time they won't have such a small budget and they will go to a much nicer resort. God knows they deserve it for all the hard work they do! :rolleyes:

[AmberMoon]

/shakes head

[Emancipated]

Yup, another kick in the ground of the working man. I heard some big CEO or VP got his clock cleaned when someone recognized him at a gym. Pretty messed up but you have to realize people's livelihood are being toyed with.

Get rich and stay rich; that's the only way you'll "win" in this game of life.

[sexpuppet6000]

The girl in the back is hot

[sexpuppet6000]

His name tag says "Mr. Cum"

[mic2074]

The girl in the back is hot

you joking right... she looks like Monica Lewinsky...

damn freakin execs - can't wait till someone buys them up, and fires all their aases.

[najibs]

I heard some big CEO or VP got his clock cleaned when someone recognized him at a gym.

Oh...clock :twisted:

This is typical of what would happen, and will continue to happen. All the bailout did was pay for debt by creating more debt. Gee that's smart!

[Tijuana]

I heard some big CEO or VP got his clock cleaned when someone recognized him at a gym.

I would honestly not be surprised.

[Efx]

Only in America. IS AIG hiring??

[flexwong]

small investors get wiped out, the CEO's from last year are all sitting tight in their mansions with their cool payouts from getting fired. the system works.

[ItemFinder]

Yup, another kick in the ground of the working man. I heard some big CEO or VP got his clock cleaned when someone recognized him at a gym. Pretty messed up but you have to realize people's livelihood are being toyed with.

Get rich and stay rich; that's the only way you'll "win" in this game of life.
It was the Lehman Brothers CEO.

[najibs]

Bailouts only help the big guns in a company. They do absolutely nothing for the middle class, and the majority of the population like aunt thelma who is losing her home, meanwhile the CEO of AIG is sitting in his beach mansion smoking cigars and playing golf...The American dream, eh?

[Rosico]

I enjoyed the response that this needed to be done so people didn't flee ... morale wise, where would they flee to? It's not like the finance sector is hiring!

[flexwong]

Bailouts only help the big guns in a company. They do absolutely nothing for the middle class, and the majority of the population like aunt thelma who is losing her home, meanwhile the CEO of AIG is sitting in his beach mansion smoking cigars and playing golf...The American dream, eh?

in all seriousness though, if AIG did collapse, the implications would be unthinkable. the world's largest insurance company going bust? do you realize how many smaller insurance companies around the world would shut down with them? the ripple effect would kill a lot more people.

[Emancipated]

It was the Lehman Brothers CEO.

Sounds like he deserved it too.



http://images.nymag.com/images/2/daily/intel/08/06/09_richardfuld_lg.jpg

[x95zsk]

Why does everyone just looks out for themselves these days? what happens to helping out your neighbour and not screwing them?

I just think that MBAs and business schools should teach more on ethics. not even ethics but morals!!!!

Note: i did attend a business school.

[branat]

A lot of people were not doing their homework. This crisis is the similar to the junk bonds or any prior crash. The buyers know or should know the risk of buying a particular product but is hoping that they can unload at a higher price. Products that they know they should have not buy.

Take the housing market at the center of the universe. People were lining up and snapping up prime locations of any given development. And promptly flipping once construction begin. I saw many for sale signs that I would have no doubt that they were purchased to be flip. I don't have the stats but I'm sure that the majority of them don't have MBA or attend business schools.

[George W. Bush]

AIG is dying - they are the initial catalyst for this. Something about them, and Ike in Texas, and insurance money. Don't know the details...

[teknoluv]

Why are those losers kept in the first place when the US government literally took over (like the Communists) AIG? And no, they don't deserve any spa or golf!

[whampoa]

Why are those losers kept in the first place when the US government literally took over (like the Communists) AIG? And no, they don't deserve any spa or golf!

Well do you know anyone better to steer this sinking ship?

It's not a matter if it sinks or not, it's how fast you want it to dive.

And this whole hysteria is not over yet. We still have the huge credit card crunch to content with.

You know, no money down for 6 months on approve credit. Guess what, that 6 months is closer than they appear.

[teknoluv]

Well do you know anyone better to steer this sinking ship?
The sinking ship analogy is very good, but you sound like those proven losers are not only the brightest but also the only crewmen who can save us from drowning. OF COURSE, there are better people out there. It's not like when Google bought out a high growth business like YouTube and kept the management team. It's a losing game, and the coach must go.

[ji2o0k]

TOF COURSE, there are better people out there. It's not like when Google bought out a high growth business like YouTube and kept the management team. It's a losing game, and the coach must go.yeah but when the owner and GM gives the coach a blank cheque (or $700B cheque), the coach is going to milk it for all it is worth.

The coach is going to grin, light a few stogies and sit tight for the ride!!!

Like how the Knicks and Isiah behaved over the last few years.....:lol:

[Blackmajik]

What can you do? The rich get richer and the poor goes uhhhh... broke. I lost and am continue to loose money in my investments and if I loose my job and can't pay for my necessity payments, who is going to bail me out?

[KelvinK]

aig's explanation:

On Wednesday, AIG said the "business event," hosted by one of its subsidiaries, was for independent life insurance agents. It said the event was planned "months before" it received the loan last month, and no AIG executives from headquarters attended.


AIG says lavish event was mischaracterized (http://www.reuters.com/article/ousiv/idUSTRE4979Q320081008)

[mlc2000]

Ok...

Yes it looks bad....but lets consider something....

Perhaps this had already been paid for, ahead of time.
What are the costs of cancelling such an event?

Its not one hotel room. Its hundreds.
If I call at the last minute and cancel a room, guess what?
I'm still paying for the room.

Its bad optics no matter what.


AIG said the "business event," hosted by one of its subsidiaries, was for independent life insurance agents. It said the event was planned "months before" it received the loan last month, and no AIG executives from headquarters attended.

[sexpuppet6000]

Ok...

Yes it looks bad....but lets consider something....

Perhaps this had already been paid for, ahead of time.
What are the costs of cancelling such an event?

Its not one hotel room. Its hundreds.
If I call at the last minute and cancel a room, guess what?
I'm still paying for the room.

Its bad optics no matter what.


AIG said the "business event," hosted by one of its subsidiaries, was for independent life insurance agents. It said the event was planned "months before" it received the loan last month, and no AIG executives from headquarters attended.

Even if it was months in advance. The overall market was poor, and I am sure AIG knew how poor shape they were and would be well ahead of the public. Why was such a elaborate and costly resort even planned? You are suggesting that they have to pay a cancellation fee. But would the cost of canceling and holding the conference elsewhere cost more or less?

I'm guessing they could have cancelled, held it elsewhere, and saved some coin.

[Unicron]

These are the events where they have politicians perform satanic sex rituals with young females/males

Watch the movie Eyes Wide Shut, Stanley Kubrick

word

[silentio]

Sounds like he deserved it too.



http://images.nymag.com/images/2/daily/intel/08/06/09_richardfuld_lg.jpg

That's a 100million raised eyebrow he's showing.

[silentio]

AIG today got another loan from the government for 35 billion, this time against collateral on its subsidaries.

For shame.

[aw3s0me]

aig's explanation:



AIG said the "business event," hosted by one of its subsidiaries, was for independent life insurance agents. It said the event was planned "months before" it received the loan last month, and no AIG executives from headquarters attended.

AIG says lavish event was mischaracterized (http://www.reuters.com/article/ousiv/idUSTRE4979Q320081008)

everyone PLEASE read the article before you go nuts. it was an event to reward its top selling agents. AIG still has to compete against other firms, would anyone want them to lose their top sellers to the competition? i dont think so, especially at a time like this when they could use all the help they can get.

[cheapmeister]

This reminds me of the movie The Titanic. When the ship was sinking the band still played like nothing was wrong. Guess AIG feels the same way.

[CeoOfKFC]

Canadians for Obama 08

[FazerRider]

hell if I was an executive at AIG, I would be doing the same thing.......burning through as much money as I could.

The money ain't mine, might as well spend it. What is the worst that can happen? The company goes under? Ooppps....been there, done that.....the US Gov't will bail me out.

Plus, if you fire me I get my golden parachute....

oh you know, the mini-fridge, room service that kind of stuff....:twisted:

nice to know who you really are...

[masterhapposai]

everyone PLEASE read the article before you go nuts. it was an event to reward its top selling agents. AIG still has to compete against other firms, would anyone want them to lose their top sellers to the competition? i dont think so, especially at a time like this when they could use all the help they can get.

:lol: save it until you get hired there

you're not getting any bonuses from them yet

[xg3]

yah i gotta agree.. quite frankly, the corporation can be losing, lets say 50 million dollar a year... these top sales can be doing 10 million sales a year.. is $500,000 too much to keep those 10 millions?

Or would all tax payer just like to see those billions go down the drain?

[Tijuana]

yah i gotta agree.. quite frankly, the corporation can be losing, lets say 50 million dollar a year... these top sales can be doing 10 million sales a year.. is $500,000 too much to keep those 10 millions?

Or would all tax payer just like to see those billions go down the drain?

Its all about timing. Wince your company is going bankrupt, right after your ass gets saved is probably not the best time to party