AIG has canceled a retreat it had planned for salespeople for next week at the Ritz-Carlton Resort in Half Moon Bay, California, probably because some Representative from Maryland made them justify thousands of dollars worth of manicures, pedicures and facials. This is a major crock of shit.
As stated by Eric Dinallo, vacays like the ones taken the week after the $85 billion bailout are not "crazy corporate decisions," but rather rationally thought out and much needed pick me ups for employees down in the dumps. And we shouldn't have to defend them to you, Harry Waxman Witch Hunt, or anyone else. Now, more than ever, troubled, or sort of troubled or quasi troubled companies should be ramping up the retreats, or, at the very least, the spa treatments. Think about all the pussies you know working in finance. They need to be coddled and told "you can get through this," and "hey, I know what would make you feel better, how 'bout a pedicure, it's not gay." The collapse of Lehman, some say, triggered some other troubles. Dollars to donuts, if Dick Fuld and the Fuldettes had received some well-timed pampering, including but certainly not limited to Swedish massages, pore cleansing facials, and--in the case of executives lying about how things were really going at 745--colonics, we would not be where we are today.
Update Just got this maybe BS e-mail, from an AIG address:
Earlier today, AIG announced an important policy change - one that we wanted to be sure you knew about.
A short time ago, our Chairman and CEO Ed Liddy said that he has ordered the immediate cancellation of all outside meetings, conferences, and recognition events across AIG, except those that are required by law or that are deemed absolutely critical to sustain our ongoing business needs.
Given AIG's commitment to our customers, business partners, regulators, and American taxpayers, coupled with the new and very different challenges our company now faces, we take these responsibilities extremely seriously. Their trust is critical to our success. We recognize the need to be sensitive about all company expenditures.
As we move forward, we will continue our focus our efforts to pay back the $85 billion loan from the Federal Reserve Bank of New York as quickly as possible.
We appreciate your blog's efforts to share this information with your readers.