Thursday, October 16, 2008

Another Idiotic Carrier Trick

[Welcome Industry Radar readers!]

Less than a month after the rocket surgeons at the top of the AIG heap thought it'd be a good idea to blow almost a half million dollars on an extravagant party, they've apparently decided that too much just isn't enough:

"(N)ow it's $86,000 for a hunting trip in England as the faltering company reaped another $37.8 billion in taxpayer funded loans."

Granted, this represents a significant belt-tightening by the super geniuses running the largest American insurance company; after all, it's a bit less than 20% of what they spent on the aforementioned gala. Did they ever stop to think that we taxpayers may cast a dim eye on such shenanigans after forking over almost $125 million of our hard-earned dollars?

Apparently not:

"Company officials said the hunting trip in the English countryside was an annual event for customers that had been planned months before the bailout."

And their point is...?

Hey guys? Lots of us have postponed trips, entertainment and other luxuries while we consider a potentially bleak economic future. I for one would love to know just who these "customers" were.

Never fear though, the company has pledged "to continue focusing on actions necessary to repay the Federal Reserve loan and emerge as a vital, ongoing business." If this is how they intend to "focus" on repaying that debt, I'll take a pass.
blog comments powered by Disqus