AIG Executives Pampered at California Spa After Bankruptcy
October 8th, 2008Via: Los Angeles Times:
When the going gets tough, the tough get pedicures.
Just days after the federal government committed $85 billion of taxpayers’ money to a bailout of insurance giant AIG last month, senior execs from the troubled company headed to Southern California’s ultra-swanky St. Regis Resort in Monarch Beach for a week of wining and dining top salespeople.
“They had a conference here,” resort spokeswoman Kristi Turek confirmed Tuesday, “but we don’t get into details of what they did during that time.”
As it happens, congressional investigators released AIG documents earlier in the day showing that the company paid more than $440,000 for the event, including nearly $200,000 for rooms, $150,000 for meals, $23,000 in spa charges and almost $7,000 for golf outings.
The post-bailout getaway for American International Group execs is just one of a series of jaw-dropping revelations to emerge this week about the behavior of some of the companies involved in the financial crisis.
