Will AIG ever learn? Will Congress ever learn to just let hulking, incondite corporations succumb to "natural causes" - i.e., greed, graft and excess? Will the citizenry ever learn to stop electing congressional nitwits who spend like Sarah Palin at Neiman Marcus?
After over $100 billion in eleemosynary outreach from our socialist government, the beer keeps flowing like wine at AIG swank-fests. From the horse's mouth:
AIG Advisor Group will host its 2008 Asset Management Conference (AMC) at the Point Hilton Squaw Peak hotel and conference facility in Phoenix, Arizona on November 5 – 7, 2008. Nearly 150 financial planners, who operate their own independent businesses and are not AIG employees will participate in the event. Financial planners attending the meeting represent 23% of total AIG Advisor Group revenue as of September 30, 2008.
The goal of the AMC is to provide an educational, training and networking forum for financial planners. The AMC meeting agenda includes seven general sessions, twenty-two classes, and two working lunches. Topics range from alternative investment products and advisory services strategies to business-building programs, productivity tools, and portfolio management.
Eighteen participating product sponsor firms are underwriting $320,000 of the total meeting cost of $343,000. The company’s portion of the total meeting costs is under $25,000. Additionally, financial planner attendees are responsible for their travel-related expenses, registration fee ($199), and guest registration fee ($250).
Now, from newsnet5 undercover reporter Josh Bernstein, who attended the conference in cognito:
AIG made significant efforts to disguise the conference, making sure there were no AIG logos or signs anywhere on the property.
An AIG spokesperson said there were no AIG markers in order to minimize signage costs and to lower the company's profile.
A hotel employee told ABC15, "We can't even say the word [AIG]." . . .
The ABC15 Investigators went undercover at the resort and found AIG executives having poolside meetings while drinking coffee and working out at the spa while other attendees were in conference rooms for seminars.
We also watched as half a dozen of the executives went to dinner at McCormick & Schmick's at the Camelback Esplanade, racking up a bill of more than $400 for drinks, appetizers, and meals.
The three-day event at the resort was also supposed to feature hall of fame football quarterback Terry Bradshaw as a motivational guest speaker, but the company canceled Bradshaw's appearance shortly before the start of the conference, according to a company spokesperson.
According to the Washington Speakers Bureau, which manages Bradshaw's speaking engagements, he commands a fee of more than $40,000 per appearance.
40,000 in cake for f**king Terry Bradshaw?!?! As a motivational speaker?!?! $40,000 for his inspiring tale of preserverance and triumph, defying the odds, to become the only member of Fox's insufferable Sunday NFL panel without hair?!?! Sh*t, for $100 bucks, I'll come to the conference, tickle the corporate stiffs with "you must be a redneck" jokes for an hour, then go on a roadtrip across the country, stopping at every home to hand out free AIG ball caps and free kicks to the junk.
Are you crappin' me, AIG?!?! I'd rather huddle together in Hobo Jungles and endure bread lines, than give this gargantuan joke of a company another nickel.
