AIG Management Holding Another Getaway Conference in California

AIG was chastised for its last attempt to take employees on a retreat that was to cost hundreds of thousands just after they had received a substantial bailout from the government with taxpayer money. Again, AIG, which is based in New York, has planned a cross-country venture to California in what is called a business forum and it will include around 200 members of AIG advisers and 20 members senior management.

AIG is claiming this trip is only going to cost $30,000 and claims there are sponsors who are going to pay over one million dollars so that AIG will be able to entertain the 200 advisers they are shipping across the country. AIG has stated that this retreat will possibly generate $400 million in new business and any extras at the retreat, like bringing spouses or golfing will have to be paid for by the individual or has already been taken care of by sponsors.

This is a troubling sign seeing as how AIG has not even fully paid back the taxpayers for the bailout and renaming a retreat at a spa, which is across the country from their headquarters, and calling it a conference to generated business shows AIG’s lack of concern for the economy and taxpayer money that kept these members of senior management employed.

Accountability and learning from mistakes is something AIG management seems to have missed. If they want to generate business that is wonderful, but to fly from New York to California and partake in over a million dollars worth of spa treatment doesn’t seem to show any humility on the part of a company who would no longer exist were it not for taxpayer money. Its acts like this on the part of AIG that give those in our country and around the world an excellent view of how greedy people can be.