Posted on 11/11/2008 2:22:44 PM PST by NormsRevenge
CHARLOTTE, N.C. – American International Group Inc. on Tuesday defended itself against a media report of a sales meeting held at a luxury resort in Phoenix last week, saying the event was an “essential training meeting.”
ABC News reported details of the event late Monday, the same day the U.S. government announced a restructuring of a bailout plan for the insurer, boosting aid to the company to around $150 billion – even after the company said months ago it would stop “all nonessential conferences, meetings and activities that do not clearly maximize value and service given the current conditions.”
“We reviewed this one. This one did not slip by,” AIG spokesman Nick Ashooh said Tuesday. “Some of the things we've done in the past certainly can be criticized, but this was a totally legitimate event that wasn't even for AIG employees.”
Company officials said the meeting, held at the Pointe Hilton Squaw Peak Resort, was a sales training and education conference for about 150 independent financial advisers in its AIG Advisers Group.
(Excerpt) Read more at signonsandiego.com ...
But I heard on the news coming home that this was an event for AIG executives while the CEO was on capital hill, asking for more bailout money... Surely the news report couldn’t have been wrong, and AIG is lying when they say this was for independent contractors...
Please. I don’t care how the insurance arm of AIG spends it’s money - it’s not the regulated business that is in financial straights, it is their other operations that are in question. Though I’m wondering, has any state begun the process of approving the federal government having ownership over the regulated entities? Oh, right, reporters are more interested in gotcha stories.
Rooms are now going for slightly above $100/night.
It's not the 4 Seasons.
I guess AIG some believe should hold all sales meetings at McDonald's from now on?
For a Hilton property, I’m shocked it’s that low a night. Thanks!
I’d like to stay at the Phoenician sometime.
Gee, funny how we didn’t have to wait for an Obama, Hildebeast or Edwards Presidency to get Socialism.
I am disgusted with this Administration.
I was thinking Marion myself....
L
We paid $99/night. Squaw Peak is in the same price range. Both are very nice hotels but not top luxury.
Squaw Peak is actually more of a family hotel. The Phoenician and 4 Seasons are the exclusive $400/nt. hotels in Phoenix, I believe.
We usually cruise for vacations but when we occasionally head for higher ground, that is a good price.
The insurance wing is separate from AIG Holdings and the press is either completely ignorant of this or they are deliberately misreporting it. AIG’s insurance wing is in very good shape...but if the press keeps airing this kind of nonsense and drives away customers, that could change.
Can AIG management be THAT stupid? Or do they just think we are?
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