Insurance giant AIG is having a hard time overcoming its greedy image, but it's hard to change public perception when the company keeps making self-indulgent mistakes. People were infuriated by news that AIG sent its top sales executives on a posh $442,000 retreat just one week after the government approved an $80 billion bailout for the company. Old habits, they die hard.
As AIG asked for another $37.8 billion from the Fed, it made the thoughtless decision to send executives on a taxpayer-supported $86,000 hunting trip. New York Attorney General Andrew Cuomo isn't taking AIG's spendaholic ways lightly, and said these expenditures violated state law. The company responded to attacks regarding the hunting trip with a shoulder-shrugging sorry: a spokesperson said, "We regret that this event was not canceled."
Marni
Matthew Williamson
Rick Owens
::rolling my eyes:: I'm sure they are 'regretting' it.
1OMG! These guys are such a-holes! It makes my blood boil!
2It shows how much they care what the average client thinks...
3I cannot believe they did this twice. But then again, I can't believe we rewarded this.
4This is DISGUSTING.
5They NEED to pay back the U.S Treasury!!!
Words fail me at this moment. I'm not surprised though that they'd go and do something like this.
6I'm not surprised in the least bit.
7they need to take that money back. let aig fail then. they got some help and they are being careless with what we gave them. i don't want to help them anymore
8I'm sorry but AIG needs to pay back $80 billion bailout money I don’t care at this point if they fail or not I’m sure they’ve already cut a lot of jobs while the big shots are all taking mini vacations at the expense of tax-payers. "We regret that this event was not canceled." - That is just unacceptable if the company was in trouble this hunting trip/frivolous spending should have been some of the first things cut from the budget. It really makes me wonder if the CEOs running some of these major companies know what the hell they're doing. I think we need to start a petition to have them pay us back maybe the government can use that money and send us another stimulus check cause my bank account could surely use a little stimulating.
9you 'REGRET' that the event was not cancelled? come on - it's not that hard to change your plans. EVERYONE knows that the bank was taken over so it's not like you couldn't cancel it. people just wanted to go on their trips and do what they were doing like it was nothing. i think that it shows a HUGE disrespect to the people who invested in the bank and who lost everything. i'd like to have those kinds of retreats..
10They just regret getting caught. Greedy, Greedy!
11So AIG underwrote insurance policies for Lehman. The policies are up on October 21. Since the Gov'ment now holds AIG, does the gov'ment have to pay up the claims on the policies? The value of the policies alone is supposedly something like $400 billion. Can someone confirm that this is the case?
12Agree with cubadog here. They wouldn't cared one bit if no one found out about it. And our illustrious leaders wonder why we're so angry with them? Puhlease. Why don't they bail ME out of some of mismoves I've made financially?
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