Amid Outrage, AIG Revises Get-Together Policy

It is a disgrace that a company thing so little of recent events. Contracts were probably signed for the california retreat but in light of the bailout, I am sure the resort area did not want the poor publicity and the contract could have been put aside. It just shows the mind think of what some of these execs feel of the public and how they love themselves. People go to jail for committing a crime but rape a nation...nothing

Manuel Armas of NY @ Oct 19, 2008 15:29:59 PM

Tar and feathers is too good for them!

These people should be facing jail time. This is just unbelievable arrogance!

Sharon of TX @ Oct 10, 2008 12:04:41 PM

AIG MALAYSIA another money wasting crap!

Another example of money wastage comes from non other than AIG MALAYSIA, one of AIG's foreign unit. How can AIG Head Office going to control the funds spent by AIG Malaysia when NY can't even control their expenses; lest behaving themselves. This stupid AIG MALAYSIA's "Captive Agency Program" (a welfare program) that pays huge salaries to thousands of individuals and hoping that they become their agents is nothing but a flop. Can't AIG MALAYSIA think of something more useful and productive rather than spending and wasting US tax payers' money on some charitable agency recruitment crap that fails year after year. Moreover, they spent huge amount of money running agency campaigns over and over again just to satisfy the lust of their top management and own employees; without churning desirable production. This AIG MALAYSIA should be sold and thrown out of AIG stable. Time for Federal Government to act now or too late. Corrupted company run by corrupted employees in a corrupted country. What do you expect?

Brad of NY @ Oct 10, 2008 11:30:54 AM

THE DECLARATION OF INDEPENDENCE

I've been more than a bit upset lately with my government as well as certain folks on Wall Street, so I re-read the Constitution & Declaration of Independence. Interesting stuff, written by some really great minds who also were getting shafted by their current leadership. Here is one interesting section:

"That whenver any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and Happiness."

I really don't think what is going on right now in our government is what our "Fathers" had in mind.

Maybe Thomas Jefferson was right.

Lebo of FL @ Oct 10, 2008 08:28:42 AM

Are You Serious?

This is like me loaning money to my drunk cousin and expecting her to really go get some AODA counseling. Can't we throw them in jail so they no longer cause harms to themselves or the country?

Mia of @ Oct 10, 2008 02:41:56 AM

AIG (I'm a simple AIG sales agent)

Yes, I just recently started my career with AIG, about 3 weeks before the initial bailout/rescue bridge loan to AIG on Sept. 16.

I guess corporate executives just do not understand how the public's perception has dwindled so drastically in the past few weeks; not to mention today's additional 37 billion dollar loan to the company I am now associated with. Do you guys know how hard it is to promote your product now? I HAD (notice the word “HAD) several interested clients in the great product "Quality of Life" line of insurance that carries accelerated benefit riders that can be drawn against the face value of the policy while living if the policyholder becomes terminally, chronically or critically ill. It is a great product. However, my meager $ 600.00 per week training pay will end in a few more weeks. I have pressure from my managers to produce, people are not really listening. I'm now trapped. I love AIG's life product, so did the few prospects I was working with, but their faith has disappeared. Remember the Tylenol scare back in the 80's? Same thing here.

My problem is this, since I took out a loan to supplement my pay during training, I am now faced with trying to find a company to work for without initial training pay. I'm out of money other than the meager $ 600.00 per week pay that will end within 2.5 months. Thanks a lot CEO's and execs! I even purchased one of your products 3 days after the first bailout/rescue bridge loan to "our" company, because I really believe in the product...well, my confidence is now dwindling.

Do I now REALLY work for the government since the fed now retains 79+% of AIG? I think I'll get into the Medicare Supplement market with a reputable company to REALLY help seniors navigate their retirement health insurances and drug plans. This market is regulated as I now see other companies should be. Don't get me wrong, I do not believe in over regulation bogging down everyone with idiotic and burdening paperwork, but this is just a slap in the face to recruits for you "famed" company. How can I meet my quota and go on the trips to the resorts that were promised me after making a meager 60 grand or less per year? Maybe I should sue AIG for future loss of income and pay back the loan I secured in order to make it through your 17-19 week training program (which I must say, I've had to pretty much count on my co-agents for training to date other than the first 3 days).

Suicide is not an option at this point, as I replaced my old life policy (all life policies carry a suicide clause that will pay a death benefit after two years of the policy being in force) with the now “famed” AIG “Quality of Life Product. Maybe I should shoot my dog since I will no longer be able to feed him or pay for his veterinary bills. I can’t do that of course, I love him too much. What a dilemma!

Anonymous AIG new recruit

A Naive New AIG Sales Agent of AL @ Oct 09, 2008 23:44:48 PM

The AIG party complete with spa treatments ---------

--------was so distasteful to read about that I must add my comments: the details of the AIG "get-together" had all the earmarks of the period of the French revolution when the noble class lived with complete disdain and with no concern for average citizens who were living in very reduced circumstances and for whom daily bread was hard to come by. And you know what happened when the population revolted! Thanks to that revolution France is now a republic. No more partying, bewigged nobles dancing at Versailles while the people go hungry. In today's world the CEOs who benefited by collecting such obscenely huge paychecks in these last years should start to understand that their party is over. Or is it? People are very angry.

lenoresachs of CA @ Oct 09, 2008 23:11:50 PM

Retreats

If lavish retreats like this are so important, then the CEO's of these companies should pay the bill out of their bulging compensation packages.

Michael Tatom of CA @ Oct 09, 2008 22:39:20 PM