March 6 (Bloomberg) -- Goldman Sachs Group Inc. and American International Group Inc. will skip this month’s Hong Kong Sevens, while other firms that took government money including Citigroup Inc. and Royal Bank of Scotland Group Plc plan to scale back hospitality at the three-day rugby festival.
Goldman, the recipient of $10 billion from the U.S. government, has sublet its corporate box and won’t be using it for the first time in more than a decade, said spokesman Edward Naylor. So has AIG, the U.S. insurer that’s gotten multiple bailouts, said a spokeswoman who declined to be identified.
Free-Flow
“It’s free-flow food and booze in the boxes,” said Jacqueline Yu, a retired fund manager who attended the past 10 years. “Each would have a specific theme, like Arabian Nights, decorated according to the theme, and lavish gifts, too.”
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O, the sacrifices
