The charges included close to 200,000 dollars for rooms -- which costbetween 425 and 1,200 dollars per night -- over 150,000 for meals and23,000 in spa charges

You know there has to be some sort of saying that fits the AIG executive post-bail out spa outing...

Maybe......

We live by the Golden Rule. Those who have the gold make the rules. ~Buzzie Bavasi

Maybe.....

Money is better than poverty, if only for financial reasons. ~Woody Allen

Maybe....

"We don't pay taxes. Only the little people pay taxes ..." credited to Leona Helmsley by a former employee. She was later convicted of federal income tax evasion.

But I digress....When all is said and done, bail out speaking, perhaps LAUREN SILVA and DWIGHT CASS summed up the spirit of how much hope AIG shareholders had to look forward to.... on Breakingviews.com

" Of course, A.I.G. would also still own the financial assets that have caused so much trouble. They have been written down heavily, but markets are still deteriorating. An upturn or the government’s rescue program could increase their worth. But right now there isn’t much value for shareholders to hang their hopes on. "

But off the shareholders and onto more fun things...like $23,000 worth of spa services.

While there isn't much hope of trickle down benefits... Tricke up is alive and well. Even a "Bush spokeswoman was outraged" [by the spending] - Granted, that statement screams OXYMORON and though it pains me, I have to agree with the Bush spokewoman.

Please read the AFP article while I go flail myself for the last statement.

Bush spokeswoman 'outraged' by AIG junket1 day agoWASHINGTON (AFP) — President George W. Bush's chief spokeswoman expressed outrage Wednesday at reports that AIG executives spent hundreds of thousands of dollars on a spa retreat after the US government rescued the firm."I understand why the American people would be outraged. I am. It's pretty despicable," Dana Perino told reporters.She spoke after US lawmakers were told that AIG spent more than 440,000 dollars for an executive getaway at a California beach resort just days after the insurance giant was rescued by an 85-billion-dollar US government loan.Bush lobbied for a 700-billion-dollar bailout package to help the US public, said Perino, who stressed: "He did not do that to help top executives and certainly not to help executives go to a spa."The US Federal Reserve stepped in to save American International Group from imminent collapse on September 16, with a loan that gave the US government a stake of 79.9 percent in the insurance behemoth in the deal."Less than one week later, AIG held a week-long retreat for company executives at the exclusive St. Regis resort in Monarch Beach, California," Democratic Congressman Henry Waxman told the House Committee on Oversight and Government Reform on Tuesday.Invoices showed that AIG paid the Pacific Ocean getaway resort more than 440,000 dollars, Waxman told the committee on its second day of hearings on the Wall Street economic crisis.The charges included close to 200,000 dollars for rooms -- which cost between 425 and 1,200 dollars per night -- over 150,000 for meals and 23,000 in spa charges, he said.


So what was AIG's explaination?

According to AIG spokesman Nicholas Ashooh "It's as basic as salary as a means to reward performance.”

Really? I never worked for a company that didn't decrease it's rewards during tough fiscal times...no matter how good the performance.

Also according to Christi L. Gibson, Executive Director of Recognition Professionals International, what AIG did on the retreat is not unusual because hundreds of thousands to multi-millions are spent by companies on employee recognition, rewards and appreciation. “And it is actually profitable,” says Gibson,

(I think that is going to turn into an unfortunate statement)

“and here’s why. Recognizing employees generates motivation which increases productivity which influences the bottom line.”

Um. Bottom line? If what Ms. Gibson says is correct (in relations to AIG) than why would the bottom line be.....Oh what was that quote?

"But right now there isn’t much value for shareholders to hang their hopes on."

Right. There isn't much for the shareholders. AIG did cancel the next employee recognition ...award. But to be honest, I don't think it was canceled due to any ethical remorse... But because the last one turned into a Public Relations Cluster F.... um..... Disaster.

Now, if you'll all excuse me I'm going to have some ramen noodles for dinner (they were on sale at riteaid for 9¢) and wash my hair with coconut suave shampoo (79 ¢ also at riteaid)