NationStates Jolt Archive

No one else seems to have posted this yet, so I thought I would. I'm really quite upset while my family and I work to conserve our money and spend less once again AIG goes ahead and spends our money that we're giving to them with our Bailout cash.

American International Group, the troubled insurer that has received billions in taxpayer funds, held a $343,000 conference last week at the Pointe Hilton Squaw Peak resort in Arizona. The company said sponsors picked up roughly 93% of the tab


What are your thoughts on this? Are you fed up? Should AIG's money be revoked and have their Heads fired and potentially imprisoned? To me it's downright theft.

Full article, it's only a few paragraphs of course:

http://blogs.usatoday.com/ondeadline/2008/11/aig-holds-anoth.html?csp=34

No I don't think the money should be revoked. If it is needed to help train executives then why not?

Being in the insurance industry you wouldnt believe some of the perks that come down from national insurance companies courting FMO's (Field Marketing Orginization) such as myself and ICA's (Independent Career Agents). However I will say this helps them in developing new business. There is a ton of workshops that go on in these retreats. Trust me when I say insurance workshops are extremely boring. You need something to break up this. So I believe these retreats are needed.

Also to court the above groups an insurer needs to do these things to develop their bottom line. For example FMO's and ICA's do not have to sell a particular insurance product if they dont want to. They need to be attractive to sell. One of the things that attracts agents to an insurance co's product is pay and perks. Simple as that really.

Many companies would die without courting the above mentioned groups.