AIG Helps Support California Tourism
October 8, 2008 | Uncategorized
I think it’s awful how people are complaining about the government bailout of the financial industry. It’s obvious that most Americans just do not understand how the U.S. financial industry is trying to bolster the American economy in this time of crisis.
What the industry needs is a good pr agency to get the message out, to put a shine on the industry’s tarnished image. The industry needs to start waving its own flag and let all Americans know about the good things many companies are doing to help you and me.
For example, look at what AIG, the big insurance company that just received an $85 billion bailout from the U.S. government, has done to help the Californian tourism industry.
Just a week after the money was committed to AIG these guys didn’t go back to their offices and start spending the money on far-flung projects in Europe, the mid-east and Asia. No siree. They started spending their new-found money right here in the good old USA. in southern California, spreading money around to help the local economy.
Don’t believe me? Come on, don’t you read the papers? Last week AIG executives went on an executive retreat at the exclusive St. Regis Monarch Beach, situated high on a bluff overlooking the majestic Pacific Ocean between Los Angeles and San Diego, says its website. The tab they ran up: $443,343.71.
We have become aware of the generosity of these executives because of statements made by Rep. Elijah Cummings during hearings of the Committee on Oversight and Government Reform which were publicized by the blog of Joe Sharkey and The Huffington Post.
Isn’t that fantastic? I’m certain, of course, that AIG was throwing all our moolah around because they understood better than most people the trickle-down impact it would have. And let me tell you, after reading yesterday about Gov. Shwartzeneger saying he needed a $7 billion loan from the U.S. Treasury, we should thank these guys for trying to do so much to help the Californian economy.
Still a bit skeptical? Well, just look at trickle-down effect.
During their one week stay these guys spent $139,375.30 on their rooms (they also received $2,478.60 in comp rooms). Just think of all the housekeeping people they kept busy. And the $2,949 they billed as gratuities! And it gets even better!
Think of all the chefs, waiters, busboys, cocktail hostesses, etc. who receive their pay from the $147,30.71 they spent on a big banquet, the $3,064.71 spent on room service and in the lobby lounge, and the $5,016.32 spent boozing it up at the StoneHill Tavern and Monarch Bayclub (the latter an additional $1,900.99). So there, some of it trickled down to the bartenders, as well.
But no, these guys, these angels of the economy, out of the goodness of their hearts went even further: they spent almost an additional $25,000 in the spa and Salon Vogue . “They were getting manicures, facials, pedicures and massages while American people were footing the bill,” says Rep. Cummings.
And talk about being environmentally minded — they spent almost $7,000 on golf! Thank goodness someone is doing something to keep the California grass green and growing.
God bless these guys for taking care of so many people. Don’t you wish there were more people like this?
But wait, isn’t the bailout package supposed to be $700 billion? So this is really great — there will be many more companies getting money so they can do the same thing.
America truly is the land of opportunity.
