$343,000 soiree for AIG as thousands lose jobs (part 2)

 

I have received a lot of response regarding my initial piece about AIG’s recent and elaborate retreat in Arizona. Nearly all of the feedback was rooted in disgust toward AIG, though some have attempted to justify the affair. The three top cited reasons:

• They need to do these things to retain top performers.
• This was a tool to educate their people on new products and services.
• If they did not go through with the event, they would have paid penalties to the resort.

If I accept this on face value, I can only assume that:

• These “top performers” are not willing to sacrifice the way most Americans are being forced to these days.
• “Education” can only be done in plush resort settings where marvelous cocktail parties, spas, limos, fancy dinners, and gyms are accessible.
• This resort would be willing to take a huge public relations hit by not waiving the normal cancellation fees given AIG’s current state of affairs.

When I look at the video from the resort, as well as the one from the airport, all I see is arrogance.

If we, the taxpayers, are to believe AIG’s press release issued Tuesday regarding the justification for this occasion, we also need to ask why they were not upfront with us before the event. Did they really think that this affair would not be made public?

I encourage everyone to watch both videos and draw their own conclusions.