Wednesday, October 8, 2008

AIG shows why it's in bad shape--Poor judgment

People are rightly mad over AIG's "spa" event for it's executives.

Not only does AIG get into trouble for bad business, they put their lack of business acumen on display by sending executives to a spa AFTER they get a tax payer funded bailout.

I can tell you that I'd like a spa trip at someone else's expense. Maybe Congress will grant me such a boon because after the last eight years, I could surely use a little massage and hot mud...


Anonymous said...

Thats ridiculous.

Maybe I'll become an AIG Executive for one day. I'll get my spa day, and then quit haha

Anonymous said...

Earlier today, AIG announced an important policy change - one that we wanted to be sure you knew about.

A short time ago, our Chairman and CEO Ed Liddy said that he has ordered the immediate cancellation of all outside meetings, conferences, and recognition events across AIG, except those that are required by law or that are deemed absolutely critical to sustain our ongoing business needs.

Given AIG's commitment to our customers, business partners, regulators, and American taxpayers, coupled with the new and very different challenges our company now faces, we take these responsibilities extremely seriously. Their trust is critical to our success. We recognize the need to be sensitive about all company expenditures.

As we move forward, we will continue our focus our efforts to pay back the $85 billion loan from the Federal Reserve Bank of New York as quickly as possible.