AIG said in a recent press release that it is 'OK to party hearty'. They said they have to entertain in their customary manner to take care of clients that provide them with the business they enjoy in their AIG-AG and IFLC divisions.
Within days after accepting an $85 billion federal loan AIG hosted 820 people at The Smithsonian National Air and Space Museum to celebrate their 35th anniversary. Costs? Who cares!
It gets better...
During that same period of time (the same weekend, in fact) AIG's subsidiaries spent a whopping $443,344 at the St. Regis Hotel in Monarch Beach "entertaining". We'd need a full time CPA just to calculate how much "fun money" these guys are spending.
It gets still better...
Meanwhile, the government was agreeing to another AIG loan in the amount of $37.8 billion.
Additional parties are on the horizon for AIG. They have scheduled a little get together for 400 stock brokers at the Marriott in Atlanta next week which will include airfare and hotel rooms, food and refreshments.
Wait just a minute here! If our government is funding this company than they (AIG) have to be accountable to us, the taxpayers and to the government.
But AIG thinks the parties are necessary...
We need you to weigh in on this one, please.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GRI
2007 President, Orange County Association of Realtors
No comments:
Post a Comment
Leave a Comment!