AIG Takes a Vacation

[Rampid_Justin]

If any of you follow US news..

http://abcnews.go.com/Blotter/story?id=5973452&page=1

[tekless]

those bastards. we pay money to bail em out and they go on vacation rather than continuing to shovel themselves outta the crap they're in. if they have money to go on vacation then we gave em too much money.

[darkmanx88387]

omg them pricks get our ****ing money and go to California BULLSHIT

[binderfender]

those bastards. we pay money to bail em out and they go on vacation rather than continuing to shovel themselves outta the crap they're in. if they have money to go on vacation then we gave em too much money.

Yup that about sums up the feeling of way overpaid ceo's always not caring about the little guy.

[Mussy]

wats this all bout? sum1 fill me in im frm england :P

[Gamer]

well what do you expect from those greedy bastards, also something like this here over at the Netherlands/Belgium. Fortis a big bank around here got in big trouble and their director got 5 million if i'm right when he got fired/stepped down. although i heard something that he didn't accept it or gave it back.
it is just bullshit that directors etcetera from banks get such big bonuses even when they are not making profits.

although i must say it is not only their fault it goes so bad with the global economy. it is shared with the banks that lend so much money and the American people that kept using credit card after credit card without being able to pay it back. debit cards keep you down to earth people.

[tekless]

wats this all bout? sum1 fill me in im frm england :P

AIG insures cars and i think health and stuff. and our economy is crashing as a result of a do nothing congress. (part of our government tat creates and votes on bills laws) and their lack of doing has put us in economic crisis mode cuz they never got any bills relating to economy pass.

So as a result of bad economy american based companies are going under and we payed hundreds of billions of tax money to bail their company out.

and banks don't have money for loans. so goodbye college.

[Gamer]

AIG insures cars and i think health and stuff. and our economy is crashing as a result of a do nothing congress. (part of our government tat creates and votes on bills laws) and their lack of doing has put us in economic crisis mode cuz they never got any bills relating to economy pass.

So as a result of bad economy american based companies are going under and we payed hundreds of billions of tax money to bail their company out.

and banks don't have money for loans. so goodbye college.

well not only your(US) economy is crashing, as result of the actions in America the whole global economic system is collapsing

[darkmanx88387]

AIG insures cars and i think health and stuff. and our economy is crashing as a result of a do nothing congress. (part of our government tat creates and votes on bills laws) and their lack of doing has put us in economic crisis mode cuz they never got any bills relating to economy pass.

So as a result of bad economy american based companies are going under and we payed hundreds of billions of tax money to bail their company out.

and banks don't have money for loans. so goodbye college.

OUR ECONOMY IS CRASHING CAUSE GOD WANTS IT TO MR SUPER CHRISTIAN I DIDNT SEE THAT IN UR ARGUMENT!!! oh wait or is it the sinners oh wait wait or is it the gays in the lesbians OH WAIT WAIT WAIT apparently thats all sinners so shit god hates 75% of the world **** me man thats a lot of hating!

and for AIG going on vaca i think those exuctives should get fired end of discussion!!

[tekless]

well not only your(US) economy is crashing, as result of the actions in America the whole global economic system is collapsing

well nice to know that even tough everyone hates us, they still depend on us.

OUR ECONOMY IS CRASHING CAUSE GOD WANTS IT TO MR SUPER CHRISTIAN I DIDNT SEE THAT IN UR ARGUMENT!!! oh wait or is it the sinners oh wait wait or is it the gays in the lesbians OH WAIT WAIT WAIT apparently thats all sinners so shit god hates 75% of the world **** me man thats a lot of hating!

and for AIG going on vaca i think those exuctives should get fired end of discussion!!

i never said i was against gays (which i used to be expiremental) and gays aren't 75% of the population so throw some more in there plz ;). and if you read leviticus its pretty obvious why gay is bad. you cant have sex with a close relative (so you can have a healthy baby) not outside of marriage(so the child will more likely be in a healthy relationship) you cant purposely time it so as not to have a baby. and you cant have gay relations. So basicaly the meaning of life is to procreate so get married then get it on till the crack o dawn.

[Gamer]

well nice to know that even tough everyone hates us, they still depend on us.

lol, what do you expect the whole financial world is connected with eachother. banks lending money to other banks etcetera. buying morgages from each other in order to make profit.

[RampidMark]

Not sure about the legitimacy of that article. I heard that it was 100 of AIG's top salesmen that were being taken out (along with the execs), to be shown how much AIG needed them... That doesn't make it any better, and I'm still pissed, but at least it's going to 100+ people instead of 5 or whatever haha

~ Mark

[darkmanx88387]

it still doesnt make it right you know the government gives them a shit ton of money so they dont go under and they go out and take 100 of there members on a $500,000 trip something wrong right there

[Gamer]

Not sure about the legitimacy of that article. I heard that it was 100 of AIG's top salesmen that were being taken out (along with the execs), to be shown how much AIG needed them... That doesn't make it any better, and I'm still pissed, but at least it's going to 100+ people instead of 5 or whatever haha

~ Mark

still dont understand it, why send such people on vacation they have to be top level in the company so why do they go on vacation while they should be working hard to get their messed up company back up and running(healthy)

[tekless]

still dont understand it, why send such people on vacation they have to be top level in the company so why do they go on vacation while they should be working hard to get their messed up company back up and running(healthy)

thats what we are all wondering...

[BigJRancid]

and for AIG going on vaca i think those exuctives should get fired end of discussion!!

and who's gonna fire them, themselves? it was the CEO and board of directors going on a trip to "clear their heads and brainstorm"

[wangsta_thug]

....let me tell you how politicians and news media are distorting this for political gain. Agree with my opinion or not...but you should at least know how it works.

That is a convention they have done for decades. When someone I know started with a great Midwest company (Franklin Life) over 29 years ago, if you sold enough premium...you go on a convention. It used to be billed as their "million dollar" convention even as far back as the 80's. When American General acquired Franklin Life, they kept with the tradition with this group. In fact many times, enough people qualified to warrant two separate conventions. I can tell you it started costing quite a bit more than $1,000,000. But hey, they spent $$$$ b/c their salesman made them $$$$$.

These trips are planned and paid for over a year in advance. You don't just plan these kind of things overnight for 1,000 couples. You get two events, along with meals, included in your trip. Most people golf twice but many go to a spa or some type of guided tour. Half the time is spent in meetings and hearing different speakers.

When AIG bought American General around '98, things changed just a bit. They were first referred as the agency building group and now they call them the AIG Independent Agency group. Qualifications were raised every year and it has since been changed to an 18 month deal instead of annually. Many of the agents in the group have moved to other companies. Convention qualification changes are only part of the reason. The biggest cause has been their products just are not competitive anymore. They have to eat first and their clients are not going to buy crap. They are independent as our group name states, after all. So sales #'s have gone down as a result for AIG. So in fact they are spending quite a bit less now, and in turn have fewer qualifiers.

The stories saying it was for AIG executives is exaggerated. Not one AIG executive went to their convention. In fact they treated them like red headed step children, even though they were a profitable small chunk of AIG. Only two executives, outside of the group, from American General bothered to show up at the convention in West Palm.

They are not doing anything different than any other large insurance carrier. Are they nice trips? You bet your ass they are, but their employees worked their asses off to qualify for them. Would it make sense for them to cancel a trip planned and paid for a year in advance? Nope. These trips are extra incentives for their employees to make goals. Take them away and sales go down (remember what I said earlier about qualification changes). Is it bad PR for AIG? Sure it is b/c Joe Six-pack will believe anything a talking heads on TV will say. Should AIG have gotten the $85 billion loan to give them liquidity (which will ironically make them sell American General's branch that made this story)? I say no, but that Pandora's box was opened a long time ago with Chrysler.

I have said my peace...

[tekless]

....let me tell you how politicians and news media are distorting this for political gain. Agree with my opinion or not...but you should at least know how it works.

That is a convention they have done for decades. When someone I know started with a great Midwest company (Franklin Life) over 29 years ago, if you sold enough premium...you go on a convention. It used to be billed as their "million dollar" convention even as far back as the 80's. When American General acquired Franklin Life, they kept with the tradition with this group. In fact many times, enough people qualified to warrant two separate conventions. I can tell you it started costing quite a bit more than $1,000,000. But hey, they spent $$$$ b/c their salesman made them $$$$$.

These trips are planned and paid for over a year in advance. You don't just plan these kind of things overnight for 1,000 couples. You get two events, along with meals, included in your trip. Most people golf twice but many go to a spa or some type of guided tour. Half the time is spent in meetings and hearing different speakers.

When AIG bought American General around '98, things changed just a bit. They were first referred as the agency building group and now they call them the AIG Independent Agency group. Qualifications were raised every year and it has since been changed to an 18 month deal instead of annually. Many of the agents in the group have moved to other companies. Convention qualification changes are only part of the reason. The biggest cause has been their products just are not competitive anymore. They have to eat first and their clients are not going to buy crap. They are independent as our group name states, after all. So sales #'s have gone down as a result for AIG. So in fact they are spending quite a bit less now, and in turn have fewer qualifiers.

The stories saying it was for AIG executives is exaggerated. Not one AIG executive went to their convention. In fact they treated them like red headed step children, even though they were a profitable small chunk of AIG. Only two executives, outside of the group, from American General bothered to show up at the convention in West Palm.

They are not doing anything different than any other large insurance carrier. Are they nice trips? You bet your ass they are, but their employees worked their asses off to qualify for them. Would it make sense for them to cancel a trip planned and paid for a year in advance? Nope. These trips are extra incentives for their employees to make goals. Take them away and sales go down (remember what I said earlier about qualification changes). Is it bad PR for AIG? Sure it is b/c Joe Six-pack will believe anything a talking heads on TV will say. Should AIG have gotten the $85 billion loan to give them liquidity (which will ironically make them sell American General's branch that made this story)? I say no, but that Pandora's box was opened a long time ago with Chrysler.

I have said my peace...

yea i guess i'd believe that. i'd have to do some research but i'm too lazy. and media does distort everything.