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!"

Any other insurance company that employs a business model of selling through independent reps holds a similar conference 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 to sell their products, ipso facto.

I own shares of AIG, but even if I did not, my reaction to this storm would be the same and I did not like the bailout. However, I reject some of this populist furor because it paints the AIG event with the same brush used for the Dennis Kozlowski Toga bash. Different deal.