David from My Two Dollars posted this:
Less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators revealed today.
“Rooms at this resort can cost over $1,000 a night,” Congressman Henry Waxman (D-CA) said this morning as his committee continued its investigation of Wall Street and its CEOs.
AIG documents obtained by Waxman’s investigators show the company paid more than $440,000 for the retreat, including nearly $200,000 for rooms, $150,000 for meals and $23,000 in spa charges.
I’m speechless, myself.
As per your comments:
They are PUNISHING those who are responsible, because AIG got bailed out from a mess that they created themselves, and then they go and pat themselves on the back. The irresponsible were rewarded and the responsible have to just keep slogging away without a spa day.
What KILLS me is that it was done SO SOON after this whole mess. They ain’t out of the woods yet, they still have to restructure their policies, their whole situation, and THEN maybe, MAYBE they can reward themselves.
But this was too soon.
- No Spend Month = Green!
- Negotiating for your salary – Men Vs. Women
- Why don’t they want my money?
- Review: Millionaire by Thirty – Alan Corey
- Paying tuition…
Moneymonk
on Oct 7th, 2008
@ 6:34 PM:
What’s wrong with that? based on the package they received, that won’t even break them LOL
I guess they went their to discuss and compare resumes for their next career~
June Shin
on Oct 7th, 2008
@ 7:49 PM:
my jaw just dropped.
eneriyma
on Oct 7th, 2008
@ 8:25 PM:
Old habits die hard? The whole experience stressed them out so they needed to relax? Or, more likely, they don’t give a crap about money. When people spend that kind of money on something like a spa retreat, it’s not difficult to connect this with their “trouble” managing funds in their professional capacity.
Auburn Kat
on Oct 7th, 2008
@ 9:56 PM:
Maybe the gov’t can bail me out and I can go to the spa? Oh wait, I was responsible and don’t need to be bailed out…
G+D
on Oct 7th, 2008
@ 10:02 PM:
OMG. This makes me want to vomit.
Fabulously Broke
on Oct 8th, 2008
@ 9:47 AM:
moneymonk: LOL!!!!!!!!!
june shin: Mine did too
Eneriyma: I think they just don’t give a crap any longer. They got themselves into the mess in the first place, got bailed out and now they’re celebrating their good luck
WTF. We’re rewarding idiots.
Er… the States is. I’m still Canadian.
Auburn: Yes, it’s like they’re punishing the responsible!
G+D: Me too
paranoidasteroid
on Oct 8th, 2008
@ 11:51 AM:
Ugh. You’d think they’d wait until the whole mess has at least disappeared from the public eye! I mean, we’re Americans, our attention spans aren’t THAT long.
It doesn’t surprise me that these companies are having trouble. $440,000?? I can’t even comprehend that much money.
Fabulously Broke
on Oct 8th, 2008
@ 6:16 PM:
paranoid: Tell me about it. Everyone is watching with a hawk’s eye and they’re f*cking around with the cash.
feli
on Oct 9th, 2008
@ 1:19 AM:
When I heard this on Fox and Friends on cable last night, I wanted to puke.
Its very irresponsible of them. And I also heard that they are still paying this guy $1 mil a week for “consultation fees” AND he was FIRED by AIG in March!!! What the….
Michelle
on Oct 9th, 2008
@ 11:18 AM:
Yeah, I’m really steamed about this. Still waiting for my bailout package.