I guess bailouts can be quite stressful, because a mere days after the government stepped in with $85 billion to save AIG from completely going under, the insurance company spent some $440K to send its executives on a fancy retreat in California. The mini vacation included golf, banquets and over $23K in spa treatments. No problem, the taxpayers will pick up the bill. Really, you just relax and enjoy yourselves….
When’s the last time someone sent me on a luxury retreat? Oh, that’s right. Never. This is just shameful.
Put them in jail. Seriously.
Okay, I'm going to say this without attempting to be conceived as a jackass but are you the WSO news wire? Seriously everything you post is ripped right from the headlines.
stfu brianr, when is the last time you posted something worth reading.
maybe someone could pull a fuld-esque sucker punch on one of those fools.
taxpayers need to keep a tight grip on the ky, surely that's not the last of the citizen-funded corporate excesses. $700 billion is a lot of $500 hammers or $35 cokes.
Juventus crawl back into your fucking hole you greaseball.
All I am saying is that I come to WSO to read something other than a brief quote of the latest news to come off the wire. There is no insight or value added to these stories.
brianr, perhaps you'd prefer I make stuff up?
xoxoxo
You grab this sensationalist BS. It adds no value.
I don't know the full story behind the outing. For all we know it could have been something to support their sales team, which could easily flip to another firm in tough times. It could have been something that was planned a year ago. It may have been some sort of planned incentive trip. It fails the WSJ test majorly, but rather then play into the media's game to demonize everyone in the financial industry, we as members of it should be doing our part to educate our family in friends. That things may not always be as they are presented to us in the media.
Rant over.
Either you sling crack rock or you got a wicked jump shot
you're missing the point. it doesnt matter anymore. whatever was standard protocol before is no longer relevant. look, public perception has drastically changed and unfortunately for all of us, fundamentally across the board things are going to have to change. you're talking about a public company that just got over $100B from the US government because its failing. investors might have put up with $200k worth of manicures when times were good but not when the taxpayer is maintaining solvency. and this story has been everywhere anyway, bloomberg, wsj, dealbreaker. even obama referred to the incident during his debate.
these guys should be vilified, roasted, shamed. they're making the rest of us look bad when we're already the easy scapegoat for the whole situation and this only compounds that perception. shit is relative and situational. this is just poor leadership because all of it could have been handled much better.
what was AIG's response to all of this? the execs wanted to waste MORE stakeholder $$ to create an ad campaign explaining their side of the story!
this is a perfect example of the poor corporate governance that got us into this situation in the first place
"investors might have put up with $200k worth of manicures when times were good but not when the taxpayer is maintaining solvency."
And why not? I mean, I can see a difference between investors and tax-payers: investors usually have a brain. If the taxpayers (or rather their representatives, because taxpayers really have no say) want to "maintain solvency" that's their problem. Business people will continue business as usual. Don't be naive.
business as usual? is ANYONE operating business as usual at this point? and im the one thats naive, give me a break. AIG lost its right to business as usual weeks ago
if you've got something to add then do so brianr
otherwise go somewhere else or put up something worth reading; if you're going to complain about the taste in your mouth then just spit out the dick loser, no one is making you come here and you certainly don't have premise to complain.
"Juventus crawl back into your fucking hole you greaseball."
excuse me, we don't all have the sweet fucking central washington state time to hover around wso waiting to post with out thumbs up our asses. go take your position at mcdonald's
"business as usual? is ANYONE operating business as usual at this point? and im the one thats naive, give me a break."
Yes, you are the naive one. I had given you a break. I realize that you've probably never held a job (and potentially not even an internship in anything). I realize that you don't understand business and that you are immature. I also realize that in all your naivete and callousness the little communist within you is establishing the hierarchy if your values. But let me repeat it once again: people are and will continue conducting business as usual. What do you think they are going to do? Stop and worry, or continue working (despite how they may feel inside)? You clearly have never stepped into an office (your pediatrician doesn't count). Moreover, I'll venture to say that the AIG executives just like Fuld, frankly, don't give a flying fuck. It's been a good run for them. If you tell them they can't continue to play, they'll just take their hundreds of millions and go enjoy life. After getting $300 millions in bonuses I would not be much concerned neither about the markets nor about what some clown in congress can say. It's all a big show. Choose your side wisely.
"AIG lost its right to business as usual weeks ago"
Uh, right ... that's what they kept plans to go to a retreat with Spa treatment right after a "bail-out", spending $150K on food for that week alone. Right. Do you even know what a "right" means, dummy?
no one said solvent companies should stop business, but everyone should be adjusting to the market changes. AIG does not fall into that category. you're really not making much of a point, why so bitter? ill give you A+ for your profiling effort but in the end, you're obviously overcompensating
ah, deducing from your post history, ur just projecting. get back to me when u graduate college (instead of pretending to be in PE)
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