Thoughts on the AIG vacay?

iVillage Member
Registered: 03-19-2003
Thoughts on the AIG vacay?
12
Wed, 10-08-2008 - 8:45am

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iVillage Member
Registered: 10-07-2008
Wed, 10-08-2008 - 8:48am
You know, I heard that on the news this morning.
iVillage Member
Registered: 10-07-2008
Wed, 10-08-2008 - 9:08am
They should be made to repay the
iVillage Member
Registered: 10-08-2008
Wed, 10-08-2008 - 9:39am

Wow. That one looks even more lavish than the one I went on a few years ago (though I DO remember those "spa treatments," LOL)

Probably not the best time for ol' AIG to be doing that.

iVillage Member
Registered: 03-26-2003
Wed, 10-08-2008 - 9:43am
It is revolting. The trip may have been planned and paid for long ago, but even if the company were not broke it would be wanton spending. Why can't they go on a down home company picnic like normal people? Their pay is also just astounding. What does a CEO do that is SO great as to warrant a pay-out of 280 million over 8 years (Lehman bros)?
iVillage Member
Registered: 03-19-2003
Wed, 10-08-2008 - 9:47am

I am sure it was pre-planned but am also sure it was prolly planned during their own economic crisis as that has been building over time.


in any event, even if they were in good standing it's wanton spending.

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iVillage Member
Registered: 06-22-2008
Wed, 10-08-2008 - 10:27am
Maybe they decided that now that they are government owned, it's time to spend and waste money.
iVillage Member
Registered: 03-26-2003
Wed, 10-08-2008 - 10:36am
Yes, we agree. My one grandfather had a bicycle shop and also imported and sold motorcycles. My other grandfather had a fairly large building supply business, which also involved importing. My father and uncle worked together in a small business all their working lives, so my thinking doubtlessly reflects that humble background. Obviously a massively large insurance company is not a corner bicycle shop, but surely there are basic business principles that apply in both situations. It is beyond me how it can ever be sound business to overpay executives and take them on overpriced "retreats."
iVillage Member
Registered: 03-26-2003
Wed, 10-08-2008 - 10:37am
I doubt it. From what little I know of contemporary corporate America, those people are quite skilled at burning through money all on their own.
iVillage Member
Registered: 10-08-2008
Wed, 10-08-2008 - 10:56am
Oh, no.....not at all. Like I said, I've BEEN on an AIG junket. Two things you can reliably count on about them: one, they're ALWAYS lavish, and two, they happen like clockwork, a couple of times a year. By no means is this anything new or different about the way these guys do business.
iVillage Member
Registered: 06-22-2008
Wed, 10-08-2008 - 10:58am
They all have that skill, but now they have the government to answer to, instead of share holders. If they hadn't been in the news, this would have gone unoticed.

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