[ IMAGES: Images ON turn off | ACCOUNT: User Status is LOCKED why? ]

What does AIG do with the first 500k of the 85B from taxpayers?
Forum Index  ›  Off-Topic Forum
« Reply To Topic
Author Thread
BRIGGS
Posts: 53275
Alba Posts: 7
Joined: 7/30/2002
Member: #303
10/8/2008  10:10 AM
Sent their executives on a posh spa vacation:(
RIP Crushalot😞
AUTOADVERT
crzymdups
Posts: 52018
Alba Posts: 0
Joined: 5/1/2004
Member: #671
USA
10/8/2008  10:44 AM
http://starhot.wordpress.com/2008/10/07/aig-execs-spend-nearly-500000-of-our-bailout-money-at-the-st-regis-monarch-beach-resort/

that's really depressing.



[Edited by - crzymdups on 08-10-2008 10:46 AM]
¿ △ ?
Anji
Posts: 25523
Alba Posts: 9
Joined: 4/14/2006
Member: #1122
USA
10/8/2008  10:57 AM
I can't read that link..............


I would say the down side is they are steal money, but on the plus side at lease they didn't just pocket the money as bonuses. They are spending the money and supporting the Spa industry.... which is a very important one IMO.
"Really, all Americans want is a cold beer, warm p***y, and some place to s**t with a door on it." - Mr. Ford
JesseDark
Posts: 22782
Alba Posts: 0
Joined: 9/9/2003
Member: #467
10/8/2008  11:26 AM
I can't read the link either but I wondering if this junket was something that was paid for in advance. Either way it is a bad look for them right now.
Bring back dee-fense
djsunyc
Posts: 44929
Alba Posts: 42
Joined: 1/16/2004
Member: #536
10/8/2008  11:32 AM
link fixed:

http://starhot.wordpress.com/2008/10/07/aig-execs-spend-nearly-500000-of-our-bailout-money-at-the-st-regis-monarch-beach-resort/
Yup . . . This is the AIG that received an $85 billion taxpayer bailout from the federal government and sidestepped a corporate collapse on September 16. Less than a week after being rescued, AIG executives blew through almost $500,000 of taxpayer bailout funds at a week-long retreat at the ritzy St. Regis Monarch Beach Resort in Orange County, California.

This 5-Star, 5-Diamond exclusive beach resort has room rates that average well over $400 per night. Many higher category room types and suites sell well above $1,000 per night. To give you an idea of what the St. Regis Monarch Beach grounds look like, take a glimpse at the video below. Pictures hardly do this property any justice.
tkf
Posts: 36487
Alba Posts: 6
Joined: 8/13/2001
Member: #87
10/8/2008  11:49 AM
I think this is a bit different. this is one of those trips that give trips as incentives to insurance agents who sell their products. Similar to mary K giving away Pink caddilacs for those who excel in selling their products. I heard these people are not even AIG execs and this division of AIG is not even receiving bailout funds. Now this is what I heard and I checked with my friend who sells insurance and he said most companies do this every year. Sell their products , do well and you get gifts and trips..
Anyone who sits around and waits for the lottery to better themselves, either in real life or in sports, Is a Loser............... TKF
BRIGGS
Posts: 53275
Alba Posts: 7
Joined: 7/30/2002
Member: #303
10/8/2008  12:03 PM
Posted by tkf:

I think this is a bit different. this is one of those trips that give trips as incentives to insurance agents who sell their products. Similar to mary K giving away Pink caddilacs for those who excel in selling their products. I heard these people are not even AIG execs and this division of AIG is not even receiving bailout funds. Now this is what I heard and I checked with my friend who sells insurance and he said most companies do this every year. Sell their products , do well and you get gifts and trips..

No what they were calling it was a bonding trip to get everyone motivated and to make sure they retain some important executives. This is just an awful message to send to taxpayers. It's not business as usual right now.
RIP Crushalot😞
Andrew
Posts: 26600
Alba Posts: 2
Joined: 7/24/2001
Member: #1
USA
10/8/2008  12:27 PM
Briggs where did you hear that?

This article coincides with tkf's description:

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/07/AR2008100702604.html

The gathering was planned before the bailout as a reward for life insurance agents, a company spokesman said, and fewer than 10 AIG executives were present.

Not that it makes any more sense though.
PURE KNICKS LOVE
BRIGGS
Posts: 53275
Alba Posts: 7
Joined: 7/30/2002
Member: #303
10/8/2008  1:08 PM
Posted by Andrew:

Briggs where did you hear that?

This article coincides with tkf's description:

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/07/AR2008100702604.html

The gathering was planned before the bailout as a reward for life insurance agents, a company spokesman said, and fewer than 10 AIG executives were present.

Not that it makes any more sense though.
It was discussed in the debate last night
It was on CNBC yesterday and today. The explanations are not far off. They wanted to make sure they retained these agents. I have no idea when it was planned but it comes off as terrible timing--sends a terrible message.
RIP Crushalot😞
freeskier
Posts: 20124
Alba Posts: 2
Joined: 11/6/2006
Member: #1202
10/8/2008  4:32 PM
Posted by BRIGGS:
Posted by Andrew:

Briggs where did you hear that?

This article coincides with tkf's description:

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/07/AR2008100702604.html

The gathering was planned before the bailout as a reward for life insurance agents, a company spokesman said, and fewer than 10 AIG executives were present.

Not that it makes any more sense though.
It was discussed in the debate last night
It was on CNBC yesterday and today. The explanations are not far off. They wanted to make sure they retained these agents. I have no idea when it was planned but it comes off as terrible timing--sends a terrible message.

the terrible message is bailing out poorly run companies.
4949
Posts: 29378
Alba Posts: 0
Joined: 4/25/2006
Member: #1126
USA
10/8/2008  9:04 PM
Posted by BRIGGS:
Posted by Andrew:

Briggs where did you hear that?

This article coincides with tkf's description:

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/07/AR2008100702604.html

The gathering was planned before the bailout as a reward for life insurance agents, a company spokesman said, and fewer than 10 AIG executives were present.

Not that it makes any more sense though.
It was discussed in the debate last night
It was on CNBC yesterday and today. The explanations are not far off. They wanted to make sure they retained these agents. I have no idea when it was planned but it comes off as terrible timing--sends a terrible message.

I been seeing this sort of thing for decades! Rarely does anyone have to answer for it.
I'll never trust this' team again.
« Reply To Topic
What does AIG do with the first 500k of the 85B from taxpayers?
Forum Index  ›  Off-Topic Forum

©2001-2025 ultimateknicks.comm All rights reserved. About Us.
This site is not affiliated with the NY Knicks or the National Basketball Association in any way.
You may visit the official NY Knicks web site by clicking here.

All times (GMT-05:00) Eastern Time.

Terms of Use and Privacy Policy