AIG caught having a SECRET luxury resort meeting
- Thread starter Unhommefou
- Start date
Agreed. To those who call you racist on that point, fuck you. If protecting your country from threats abroad, like exporting our living-wage jobs to other countries that pay less, was as important to politicians as their perks, we wouldn't be in the mess we are. I value the job of an American much higher than the job of some non-American, any day of the week. Nationalism and protectionism aren't going to start from some other country.
And before a few of you get your soap box out, my wife is from outside the USA. So much for your petty game of racism.
The douchebags are at it again. Why aren't these thieves in prison already? Oh wait, because its the old boys club running the show now and teh tax payers can eat $hit. They are misusing taxpayers money! Here I was watching CNBC yesterday having to hear those media whores become aigs spokespersons and act like AIG were victims. They even had the nerve to say that the 10 points that AIG was being charged for the tax payer money was usury!
http://www.abcnews.go.com/Blotter/WallStreet/story?id=6230818&page=1
Irate Congressman Demands Resignation of AIG CEO
Rep. Elijah Cummings: Latest "Junket" Violates AIG Pledge
By JOSEPH RHEE
November 11, 2008
A leading critic of AIG today demanded the company's CEO resign in the wake of the disclosure of yet another "junket" at a resort spa. In a letter to AIG's CEO Edward Liddy, Congressman Elijah Cummings (D-Md.) said the decision to hold an event for independent financial advisors last week at a luxury Phoenix resort was "outrageous" given an earlier pledge by Liddy to curtail such events.
Cummings wrote that AIG can begin to restore its trust with Congress "by accepting your resignation from the positions of chairman and chief executive officer."
Reporters for abc15.com (KNXV) caught top AIG executives on hidden camera at a secretive gathering last week at the luxurious Pointe Hilton Squaw Peak Resort in Phoenix. AIG instructed the hotel to make sure no company logos and signs were seen on the property, according to a company spokesman.
Click here to see the full KNXV report.
Irate Congressman Demands Resignation of AIG CEO
Rep. Elijah Cummings: Latest "Junket" Violates AIG Pledge
By JOSEPH RHEE
November 11, 2008
A leading critic of AIG today demanded the company's CEO resign in the wake of the disclosure of yet another "junket" at a resort spa. In a letter to AIG's CEO Edward Liddy, Congressman Elijah Cummings (D-Md.) said the decision to hold an event for independent financial advisors last week at a luxury Phoenix resort was "outrageous" given an earlier pledge by Liddy to curtail such events.
Cummings wrote that AIG can begin to restore its trust with Congress "by accepting your resignation from the positions of chairman and chief executive officer."
Reporters for abc15.com (KNXV) caught top AIG executives on hidden camera at a secretive gathering last week at the luxurious Pointe Hilton Squaw Peak Resort in Phoenix. AIG instructed the hotel to make sure no company logos and signs were seen on the property, according to a company spokesman.
Click here to see the full KNXV report.
Just another example of why this business is nothing more than a racket.
Contact: Nicholas J. Ashooh
Senior Vice President, Communications
212-770-3523
AIG RESPONDS TO MISLEADING NEWS REPORTS
NEW YORK, November 11, 2008 âEdward M. Liddy, Chairman and Chief Executive Officer of American International Group, has issued the following statement:
âRecent news reports have grossly mischaracterized an American International Group seminar for 150 independent financial planners held in Phoenix last week.
The financial planners are not AIG employees. In addition, the cost to AIG for this event was minimal. More than 90 percent of the costs were paid either by sponsors or by the independent financial planners themselves.
It is essential for AIG to conduct seminars of this kind to keep independent financial planners abreast of investment products and services including those offered by AIG. The financial planners are responsible for generating almost $200 million in revenue this year for AIG as of September 30th.
On October 10, I issued a directive to all AIG employees and subsidiaries to reduce expenses and conserve cash, including cancelling all nonessential conferences or meetings, unnecessary travel and excessive overhead. Since then, we have canceled more than 160 events. We conducted a top-to-bottom review of all expenses of the Phoenix meeting in advance and found that it was consistent with my October 10th directive. This conference was approved because it provides the kind of communication we must conduct with the people who sell our products if we are to be successful and repay the U.S. taxpayer.â
# # #
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
# # #
Senior Vice President, Communications
212-770-3523
AIG RESPONDS TO MISLEADING NEWS REPORTS
NEW YORK, November 11, 2008 âEdward M. Liddy, Chairman and Chief Executive Officer of American International Group, has issued the following statement:
âRecent news reports have grossly mischaracterized an American International Group seminar for 150 independent financial planners held in Phoenix last week.
The financial planners are not AIG employees. In addition, the cost to AIG for this event was minimal. More than 90 percent of the costs were paid either by sponsors or by the independent financial planners themselves.
It is essential for AIG to conduct seminars of this kind to keep independent financial planners abreast of investment products and services including those offered by AIG. The financial planners are responsible for generating almost $200 million in revenue this year for AIG as of September 30th.
On October 10, I issued a directive to all AIG employees and subsidiaries to reduce expenses and conserve cash, including cancelling all nonessential conferences or meetings, unnecessary travel and excessive overhead. Since then, we have canceled more than 160 events. We conducted a top-to-bottom review of all expenses of the Phoenix meeting in advance and found that it was consistent with my October 10th directive. This conference was approved because it provides the kind of communication we must conduct with the people who sell our products if we are to be successful and repay the U.S. taxpayer.â
# # #
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
# # #
Translation: We won't tell you how much of your tax payer money was spent on wining and dining our clients so if you want to see a dime of your tax dollars again shut up and accept our blatant misuse of your money.
Financial planners eh? Where do we even start with the irony here?
The reality is that your & my dollars are being spent to support a worthless money leeching institution so that its executives can enjoy the high life a little longer and pillage the coffers some more.
You know what I say when I hear about a financial leeching services company possibly going bankrupt? "Good riddance". Oh,. you say it will cause a financial boo boo due to Credit Default Swaps defaults? Too bad, that's their business, maybe we should expose the whole scam and just how full of sh*t that whole game is.
Let me evolve my analogy. Supporting or trying to justify this charade in any way, shape or form is like buying bandaids for your soon to be fatal infected wound cause the bandaid vendor has convinced you that you putting on the bandaid is a matter of life and death. But really, he just wants to make some profit from you before you are a worthless corpse.
