So, the AIG spa trip was not a giveaway to the executives with impaired judgment who just got a taxpayer bailout.
From Reuters:
On Wednesday, AIG said the "business event," hosted by one of its subsidiaries, was for independent life insurance agents. It said the event was planned "months before" it received the loan last month, and no AIG executives from headquarters attended.
It's going to be a tough slog here, I think, while corporate executives explain their expense sheets to the politicians who lined them up with, in AIG's case, an $85 billion loan.
Most large businesses have budget items that would make a strange sell to the political leaders who talk about Main Street, Joe Six-Pack, and the unemployment line. Companies incentivize success and lure clients with more money than most of us probably want to know about (unless we're the ones getting the back rubs at the St. Regis, of course).
Let's hope these companies won't have to lose the perks that attract and retain talent. The very last thing we want is less talent.
jd of MA @ Oct 19, 2008 08:54:16 AM
Rick of MI @ Oct 16, 2008 14:14:14 PM
Jackie of TN @ Oct 10, 2008 17:29:05 PM