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Author Topic: AIG Execs Hold Another Luxury Retreat  (Read 1436 times)
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WhiskeyGirl
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« on: November 12, 2008, 10:05:34 AM »

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AIG Execs Hold Another Luxury Retreat

And executives at the government-rescued insurance giant AIG have been caught holding another secretive gathering at a luxury resort. Using hidden cameras, local ABC News reporters filmed AIG execs poolside at the Pointe Hilton Squaw Peak Resort in Phoenix, Arizona. AIG has admitted to asking the hotel to ensure there were no AIG signs and to instruct staff not to mention its presence. It’s at least the second known resort getaway for AIG brass since their government rescue. In September, company executives held a week-long, nearly half a million- retreat at a luxury resort just days after receiving an initial $85 billion in taxpayer money. On Monday the Bush administration said it would give AIG an additional $40 billion, bringing its taxpayer tab to $150 billion so far.


http://www.democracynow.org/2008/11/12/headlines


I wonder if they were celebrating the success of the company?  Maybe they made their goals?  Maybe they want to give something back to the little people?  I wonder how much they tip?

I wonder how far the $40 billion would stretch to help the auto industry?  Or, perhaps the auto industry would hold their own posh retreat?
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Ree
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« Reply #1 on: November 12, 2008, 12:21:50 PM »

Quote
AIG Execs Hold Another Luxury Retreat

And executives at the government-rescued insurance giant AIG have been caught holding another secretive gathering at a luxury resort. Using hidden cameras, local ABC News reporters filmed AIG execs poolside at the Pointe Hilton Squaw Peak Resort in Phoenix, Arizona. AIG has admitted to asking the hotel to ensure there were no AIG signs and to instruct staff not to mention its presence. It’s at least the second known resort getaway for AIG brass since their government rescue. In September, company executives held a week-long, nearly half a million- retreat at a luxury resort just days after receiving an initial $85 billion in taxpayer money. On Monday the Bush administration said it would give AIG an additional $40 billion, bringing its taxpayer tab to $150 billion so far.


http://www.democracynow.org/2008/11/12/headlines


I wonder if they were celebrating the success of the company?  Maybe they made their goals?  Maybe they want to give something back to the little people?  I wonder how much they tip?

I wonder how far the $40 billion would stretch to help the auto industry?  Or, perhaps the auto industry would hold their own posh retreat?

I have mixed feelings on the auto industry bailout.  On one hand if they fail, many other companies would go under and cuase further damage to the ecconomy.  On the other, if they built a car that we wanted to buy, established better quality control and fixed it when it broke, they would be going broke.  I bought a GMC and while I love the vehicle itself, I would never buy another, becuase I have had too many computer related issues.  One appeared on the drive home from the dealer where another computer problem was repaired and they expected me to believe they weren't related and of course the second occurred just after my warranty expired.  Any publicly traded company has to be required to provide clear information for it's stockholders as to how it's money is being spent.  Boondagles have to be clear to the invester.
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