And you thought they would behave now? ABC15 on the chase.
AIG parties in Phoenix with a brand-new bailout check of $150 billion at taxpayer expense, and throws a big fiesta, but don’t say those letters outloud!
AIG execs only had one rule for their big shindig in Phoenix this week
A hotel employee told ABC15, “We can’t even say the word [AIG].”
But wait, there is more…remember Terry Bradshaw? Former NFL player, now motivational speaker makes $40,000 per appearance. Well, he was to be there to give a pep talk as well.
AIG told ABC that Bradshaw’s fee would come from product sponsors. They also claimed that all but $23,000 of the $343,000 bill would get underwritten by sponsors. If that’s true, then why cancel Bradshaw at the last minute? And if that’s true, then why all of the anonymity?
Well, we should ask some of the folks who were there.
In addition to the nearly 150 independent financial planners in Phoenix for training and education, the conference attendee list was a Who’s Who of AIG leaders, including Larry Roth, President & CEO, AIG Advisor Group; Art Tambaro, President & CEO, Royal Alliance Associates; Mark Schlafly, President & CEO, FSC Securities; Gary Bender, Senior Vice President, Investment Advisory Services; Bruce Levitus, Senior Vice President, Investment Advisory Services; and Stuart Rogers, Senior Vice President.
November 11, 2008 at 5:01 PM
Set an example of these “crooks” Don’t they have a boardroom they can use and hire a catering company.
Even more……. it they get away with this shame on us
November 11, 2008 at 5:40 PM
You would think that they would have been hung out to dry however, they were given another bailout package instead. Corporate welfare.
November 11, 2008 at 6:20 PM
It upsets me how people view AIG now, I realize we’ve taken a huge loan, but we will be paying it back and paying over 4 billion in interest per year, I don’t work on the side of the business that gets to go to retreats, but there’s two sides to the story and the media is taking the less favorable side. If AIG did sink, there would be 90,000+ unemployed people which isn’t going to do anything to help the economy. It isn’t our fault our company has made some obviously big mistakes recently and in the past, but I would like to continue to have a job along with all the other hard working people I work with. I do hope with the new management we can get back on our feet and pay back the loan we’ve taken.
November 11, 2008 at 9:34 PM
Anonymous: I hope that you can keep your position. Let me state that if I were to pull these stunts, I would be sitting in prison. I don’t like what is happening at the top of AIG.
AIG elite erroneously believe that they can continue the party.
I have worked hard all of my life. Two jobs at a time.
Perhaps AIG should rethink their partying ways before they portray the media as butts for calling them on the fiestas.
November 13, 2008 at 8:55 PM
If congress wouldn’t have repealed the Glass Steigel Act back in 1999 and replaced with a less restrictive act, then AIG probably wouldn’t have been in this mess in the first place. The Glass Steigel act was put in place after the depression, to regulate, and keep businesses like AIG from getting into too many areas of finance. Thus if something happened it would lessen the blow. Thanks to Phil Gramm and your lack of corporate responsibility, you handed the taxpayer a big IOU.
November 13, 2008 at 8:59 PM
As far as the job loss, don’t expect any pity. Look at all of the manufacturing jobs that have left, and went to Mexico but mostly China. Americans don’t feel sorry for those people that have lost employment over the last decade, so we won’t be shedding any tears for yours either.