AIG plans to host meeting at Ritz

[Robbien]

Source: Bloomberg

AIG . . . plans to hold another gathering for brokers next week.

The event, at the Ritz-Carlton in California's Half Moon Bay, aims to "motivate and educate" about 150 independent agents who sell AIG coverage to high-end clients, said spokesman Nicholas Ashooh.

. . .

AIG considered buying advertisements to explain its position, only to be told by public relations consultant George Sard that it would be "a really bad idea."

"To spend the taxpayer's money on an expensive ad campaign to apologize for how you used taxpayer money leaves you open to further attacks," Sard wrote in an e-mail to Ashooh.

Read more: http://www.boston.com/business/articles/2008/10/09/aig_... /

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They have no intention on canceling this new retreat of theirs but thought instead it would be a good idea to tell everyone why they plan to go on partying?

[whistle]

1. Why not, Bernanke of the Federal Reserve has given AIG another $35 billion

...that's $120 billion now in bailouts to AIG so they can party hardy at taxpayer's expense

[Frank Booth]

2. Since they're using our money, shouldn't we be allowed to go too?

[Dangerously Amused]

6. Excellent idea! Taxpayers in that area should just show up en masse.

Demand a share of the gourmet food and the rooms and alllllll the amenities the Ritz has to offer. I know I'd be there!

[Frank Booth]

7. Yeah, it would make for a good show.

Plus, us poor sap taxpayers might be able to scrounge a free meal out of it.

[rfranklin]

12. Just make sure you have the $499 for a room...

Of course, if you want a view of the ocean, add another $100 per night.

[Joe Bacon]

21. Hey, don't forget the BODY COCKTAIL!

http://www.ritzcarlton.com/en/Properties/HalfMoonBay/Sp...

only a mere $180!

Without the added calories or the hangover, indulge in your favorite cocktail while your body is buffed and rubbed to perfection. This happy hour starts with a vanilla sugar exfoliation for the entire body designed to remove dead skin and stimulate circulation. Next, a refreshing Vichy shower rinse is followed by a thirty-minute massage of hydrating shea butter.

After your treatment, choose from one of three new cocktails using NAVAN Vanilla liqueur - the latest contribution to the spirit world from the House of Grand Marnier:

NAVAN Green Tea Elixir - Vanilla, mango and green tea combine to rejuvenate and refresh
NAVAN Pear Sage Refresher - This bright cocktail relaxes with calming vanilla, delicate pear and crisp herbal undertones
NAVAN Spa Martini - Mellow out with the soothing combination of fresh cucumber and natural vanilla
Enjoy your cocktail in The Conservatory Lounge or delivered directly to the Spa.

Wow, and now i got to scrape up some change to go to Starbucks

[glinda]

23. I think that an excellent idea.

I also think it would be good to round up some families that have recently been homeless, jobless, etc and take them with you. Then call the media.

[Neshanic]

27. Great idea. People should just start showing up for dinner, drinks. It's our money.

[Frank Booth]

33. If they ask for an invitation, just show them a copy of your tax return.

[pinniped]

3. They can play some world class golf while they're at it.

.

[sandnsea]

4. Maybe people will realize where their money is going

and stop believing that it's the minimum wage worker who drives up the cost of living.

[WorseBeforeBetter]

5. Ooh... "the company intends to reevaluate expenses."

I'll sleep so much better knowing that. Thanks not handing over a blank check, Congress.

[formercia]

13. No free hookers

They still don't have a clue.

[TomInTib]

8. Reality check...

When any entity schedules an event such as this, there are serious contractual obligations.

Hotels, convention facilities, freight companies, janitorial, etc., etc.

You just cannot call it off at the final hour.

Those flights, those cars, those hotels, they are all going to run it up, as per contract.

So, they might as well go.

But they ought to have to pay it back.

Tom

[greyghost]

9. Having worked for the Ritz for 12 years I can guarantee

that they will be held to the contract.

[aquart]

10. Actually, I get that. It's the optional extras that pissed me off.

But we are also getting to see the extravagance involved in their management of money. And the suspicion arises that there are very few honest ways for most of us to afford that stuff. So how did they?

[Doctor_J]

18. You would think that their bankruptcy would void some of their

most opulent and wasteful contractual obligations

[redqueen]

29. Exactly.

Thank you.

[jakefrep]

34. So it would be a bigger waste of "taxpayer" money to cancel it?

Wouldn't this event have been scheduled well before the bailout mess shook out?

[TomInTib]

38. It's probably been scheduled for a year.

An event of this size cannot simply be canceled.

[liberal N proud]

11. These fuckers don't even know how to lean their cost

Do they not have conference rooms at their headquarters?

[DeepModem Mom]

14. K&R

[Vinca]

15. Doesn't AIG own an office building?

Average people get their "motivation and education" in conference rooms, on site, where they work. This is obscene.

[Joe Bacon]

22. You betcha!

They got one on Wilshire Blvd. in Los Angeles! Course, there might be that angry mob of pissed off people hanging around outside!

[jbane]

16. What's wrong with having the meetings at the Days Inn...

Or the Holiday Inn or or the local Community College etc.

[Doctor_J]

17. And you thought your tax dollars for the bailout would be wasted!

Fear not!

[lazyriver]

19. In a perfect world, they should be forced to hold all future

events in some of the boarded up foreclosed properties littering neighborhoods in cities like Cleveland. Maybe, just maybe, discussing strategy in the midst of those ruined neighborhoods might have some sort of positive effect on these leaches and make them think a little harder about the consequences of their greedy and treasonous actions. Yeah right, who the hell am I kidding?

[closeupready]

20. And of course, despite Dana Perino's characterisation of the other junket as "despicable", the admin

administration will say nothing, will not demand they cancel, and the band will play on as if struggling taxpayer's don't matter.

[redqueen]

30. Not "as if"... but "because".

By the rich, for the rich.

[closeupready]

32. You got that right.

Party of "haves and have-mores" to quote GWB.

[RainDog]

24. The protest should move from Wall St. to the Ritz

These fuckers, honestly, are doing a Marie Antoinette with this crap. We can scrap the cake off the sides of the economic oven and try to survive while they party at everyone else's expense? this is TOTAL bullshit.

they need to be called on this bullshit.

[truthisfreedom]

25. Rats, for a second I thought this was about the Alaska Independence Party.

Drat!

[Haole Girl]

26. I could "motivate and educate" their executives.

Just give me 5 minutes alone with one of them...

[underdoggie]

28. your reaganomics taxes at work here

Rejoice super patriots!
This is trickle down reaganomics at its finest at work
just like the Gipper (who art in heaven) designed it.
Forget not all the waiter, roommaid, cook, prostitute peeons
who will be so generously blessed by all the expensive champagne
laced liquid body waste that will trickle down upon them that
they, as glorified taxpayers, may dutifully pay the taxes
that will pay for the super patriotic high roller junket.

[redqueen]

31. Hi underdoggie...

welcome to DU!

[Doctor_J]

35. You're a glass-half-full type, aren't you?

Not only about the waiters and carpet cleaners getting the trickle, but also about Reagan being in heaven.

Welcome to DU

[Gormy Cuss]

36. Now it's canceled.

http://www.democraticunderground.com/discuss/duboard.ph...

[Robbien]

37. Even the pundits on CNBC

said they were surprised AIG planned to continue with this event and applauded the cancellation. CNBC pundits who always are the first ones to support this type of lavish spending said "if these guys want to hold a meeting, they should hold it in some broom closet somewhere".

I guess all it takes to get the cheerleaders for greed to start talking sense is to pour some red ink on their casino.

[Gormy Cuss]

39. As others have pointed out, it should have been canceled as a PR move

if for no other reason.