The infamous AIG party

AIG logo

The outing in question, was the same type of company outing that many other American companies fund each year. There were perhaps a dozen AIG people in attendance.

Unfortunately, due to the timing, the issue has become a a silly media-driven frenzy. Even the White House couldn't resist criticism and CNN keeps blaring, "Spa treatments! Spa Treatments!"

If an insurance company employs a business model of selling through independent reps, it likely does something similar to reward and motivate top performers (Note: they are not employees).

These events are planned months, or years in advance. It has nothing to do with the loan program -- it wasn't even funded by the holding company. It is...a cost of doing business. Should AIG shut down incentives for independent sales agents?  If so, there's no incentive, ipso facto.

Disclaimer: I own shares of AIG, but even if I did not, my reaction to this storm would be the same.

I did not like the bailout. However, I reject some of this populist furor because it has painted the AIG event with the same brush used to condemn the Dennis Kozlowski Toga bash and his golden shower curtain.