The media has uncovered yet another American International Group (AIG) frolic for executives at a resort — and efforts to conceal the event from the public (already outraged over past publicly financed parties for disgraced executives). AIG reportedly blocked any mention of its name on signs or even in conversations among resort employees.
The past controversy over AIG frolics did not prevent the company from holding $343,000 conference last week at the tony Pointe Hilton Squaw Peak resort in Arizona. AIG reportedly had any signs removed with its name to conceal the involvement and later insisted that sponsors picked up roughly 93% of the tab for the Nov. 5-7 conference. If you are wondering how executive could ruin a profitable company through bone-headed decisions, consider the steep learning curve for these executives in throwing events at resorts while they are begging for public money.
My favorite part of this story is the spin by our publicly sponsored spokesperson at AIG on why no signs were allowed to mention AIG: it was to “minimize signage costs.” Now, that is responsible business judgment. The $343,000 bill at the resort was modest because it did not include $5 worth of signs in the lobby. However, the company also appears to have saved on oral expressions. Like Lord Voldemort, employees were told not to even utter “AIG.” A hotel employee told the local ABC affiliate, “We can’t even say the word [AIG].”
A hotel employee told ABC15, “We can’t even say the word [AIG].”
The concealment efforts did not work. Media confronted the well feted executives at the airport, here.
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