AIG execs' retreat after bailout angers

iVillage Member
Registered: 03-19-2003
AIG execs' retreat after bailout angers
13
Wed, 10-08-2008 - 7:27am

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iVillage Member
Registered: 10-26-2003
Wed, 10-08-2008 - 8:15am

i just read this and almost lost my breakfast. u-n-b-e-l-i-e-v-a-b-l-e. $440,000 on a posh California retreat for AIG executives, complete with spa treatments, banquets and golf outings.

"Eric Dinallo, superintendent of the New York State Insurance Department, said he could see the value of such a retreat under the circumstances. "Having been at large global companies and knowing what condition AIG was in ... the absolute worst thing that could have happened" would have been for employees and underwriters in its life insurance subsidiary to flee the company. I do agree there is some profligate spending there, but the concept of bringing all the major employees together ... to ensure that the $85 billion could be as greatly as possible paid back would have been not a crazy corporate decision," Dinallo told the House committee."

- employees and underwriters are going to flee if the executive don't go on retreat?
- did the retreat include all major employees?
- between spa treatments and golf and banquets, did they figure out how to pay back the $85 billion?
- was there no retreat center available that was closer than California? that wasn't quite so posh?
- could they not have dined at Subway and played putt-putt with our money?

*shakin' my head* i don't get it.

Bea

iVillage Member
Registered: 05-05-2008
Wed, 10-08-2008 - 10:00am
Makes me wonder how they sleep at night.

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iVillage Member
Registered: 08-25-2008
Wed, 10-08-2008 - 10:06am

You know... I'm normally the person defending executives, but this one just leaves me appalled.


You manage to sink a huge corporation and then need to go to a spa to de-stress from it????


It is pigs like these that cast those executives out there who do work hard and do give a damn about their companies and their employees in a bad light.

iVillage Member
Registered: 05-06-2007
Wed, 10-08-2008 - 11:20am

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Chrissy
mom to Aidan 8/21/03
Grayson Blaine 12/30/07

iVillage Member
Registered: 03-29-2007
Wed, 10-08-2008 - 11:29am

This just makes me ill!! I


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iVillage Member
Registered: 04-09-2007
Wed, 10-08-2008 - 1:37pm

That's it exactly.

iVillage Member
Registered: 04-24-2008
Wed, 10-08-2008 - 1:44pm

So are you in favor of more regulation of corporate America?


I think corporate America is going to have to be almost as closely regulated as the banking industry.

iVillage Member
Registered: 04-24-2008
Wed, 10-08-2008 - 1:47pm
That is so weird.
iVillage Member
Registered: 04-24-2008
Wed, 10-08-2008 - 1:52pm

Their retreat came just 7 days after the President signed the Bailout package!

iVillage Member
Registered: 08-25-2008
Wed, 10-08-2008 - 2:03pm

Actually, you prove my point.


People are using these losers as a means to pillory all executives, when, in my experience, most of them are concerned for both their companies and their workers.


However, it is easy to pick a few skunks - the AIG boys, Enron, etc., out of the 6,000 or so publicly-traded companies, to attack executives.

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