Last week, about 70 of the company’s top performers were rewarded with a week-long stay at the luxury St. Regis Resort in Monarch Beach, Calif., where they ran up a tab of $440,000. For some people at AIG, the insurance giant rescued last month with an $85 billion federal bailout, the good times keep rolling Joseph Cassano, the financial products manager whose complex investments led to American International Group’s near collapse, is receiving $1 million a month in consulting fees. Former chief executive Martin J. Sullivan, whose three-year tenure coincided with much of the company’s ill-fated risk-taking, is receiving a $5 million performance bonus. :nope:
Source? 1. Spending money is good 2. You can't get everything right in business, Cassano screwed up apparently, life goes on. If $1 million is a large tab for you and you don't trust this guy, don't go to him for consulting 3. Well... Sullivan must of done something right then :| My attempt at justification
lets get some numbers going here: 440,000 is .0005% of 85 billion, to put that in perspective thats like if you loan your friend 100$, .0005% of that loan would be 1/20th of a cent. 1 million$ would be .0012% and 5 million$ would be .0059%... I know the economy is falling apart all around us, but who cares about the "small" spending's of random rich executives.... Who gives a sh*t... The news these days in the US is pathetic.
I give a f@#$ing big sh%t because I freaking lost a crapload of my investments -_- I've given up checking my stocks. I've lost frigging thousands >,<
Exactly, and you somehow would have made/kept more of your money if the rich execs didnt enjoy themselves as everyone else suffered?... Somehow that money would have transferred to u?.. no it wouldn't. The fact that you lost money has almost nothing to do with these people, Americans just like to blame rich people who aren't as affected by bad times when their money flies out the door. (yes im an American too), but rather, I put all my money into gold and silver because I dont trust our government/market.. Soooo I'm actually profiting from all of this and couldn't be happier.
Well said Adam. But that's not to say that I agree with the "wasteful" spending, but I'm not blaming anyone for it. And ouch, you lost thousands in the stock market Tofurky? Very tough luck =/
well u could call it wasteful, but you could also compare it to this: When lawyers get together and do a lawyers retreat, its always ran by the florida bar at a ritz carlton... My dad was the chairman of it one year and they spend anywhere btw 100-200,000$... This is just lawyers with 99% earning less than 500,000$... now lets compare that to gazillionaire CEOs... a few hundred thousand at a hotel is hardly unreasonable in my eyes, but obviously everyones welcome to denounce their actions if theyd like, I just wont