Noirwomannews’s Weblog

October 18, 2008

Wall Street Wavers..Middles Class Fades…AIG Spends lavishly!

Filed under: Finance,Politics — noirwomannews @ 4:46 am
Tags: , , ,

While Wall Street is erratic, and Main Street middle class fades, AIG celebrates in high style, first the $440 thousand dollar lavish get-a-way including spa treatment and golf, most recently rewarding a group with a $90,000 thousand dollar hunting trip while the rest of America tries to figure out how to survive in the worst economy since the great depression.

 

Obviously the corporate brass cares less about how others are suffering through these erratic economic times, since they continue to spend lavishly without regard to the tax payers who saved their hides with first an 85 billion dollar bailout to pay off bad debts in the company, then another 39 billion was issued to the company to be used for emergency operating expenses

 

Since when did luxury events become a part of emergency operating expenses in corporate America? Initially a spokesman for the company reported that the first event to the resort had already been planned, and the same was said about the hunting trip.

 

While Americans are cutting cost everywhere possible from food, gas and grocery just to save a dollar, surely AIG executives, clients and sale executives can sacrifice luxury conference vacations. In a tight budget use the board room and order in lunch, they will understand especially since a month ago your existence as a company continuing was in question.

 

 Great minds think alike; apparently New York Attorney General Andrew Cuomo thought the expenses were bold and inappropriate. He decided to deal with AIG by demanding they stop this type of spending, and cuddles to him for getting the message of conservative spending to AIG. The company spokesman Peter Tulupman announced he would be suspending any future events that did not directly relate to the business operations. Well that is just what is expected from a company needing billons of dollars in bail out money from the government to keep the business operating.

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3 Comments »

  1. Congratulations on receiving the Emblem of the Helping Hand Award. I’d be much obliged if you would return to the Helping Hand Blog (http://thehelpinghand-sjp.blogspot.com/) and let us know from whom you received the award. I want to keep as accurate account as possible as to how the emblem travels through the blogosphere. Once again..Congrats!

    Comment by SjP — October 19, 2008 @ 9:25 am | Reply

  2. What occurred at AIG is a shame. I hope that this firm, Lehman Brothers, Washington Mutual, Fannie Mae, Freddie Mac, others are investigation to the fullest by the FBI. Some of the executives at these firms ought to be behind bars. Nice blog.

    Comment by Janet Shan — October 19, 2008 @ 3:20 pm | Reply

  3. Hi Janet,
    Thanks for visiting. I also enjoy your blog which I have visited from the BlogBurst. Great work!

    Comment by noirwomannews — October 19, 2008 @ 11:23 pm | Reply


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