Posted On: October 11, 2008, 8:53 am CDT

Posted By: producer

Bob,

Bullseye. as I've referenced, bitter and uninformed are the majority of the posters, I've read them all and am amazed, but keeping in mind that the media controls public perception, the way this trip was spun, an uninformed person would most likely have this attitude. $440K is nothing. Four and Five Star resorts have similarly sized groups in and out weekly on three day events and generally account for about 80% of the average week day occupancy and they are not all insurance groups, just sales incentive groups,so this is standard everyday business. The Half Moon Bay event is a very nice meeting/incentive event. I understand the cancellation of the Half Moon Bay event as a PR move but also know the biggest irony with the cancellation is AIG still being responsible for room, tax and gratuities for all room nights, projected banquet revenues, including gratuities and even though transportation costs were not included, most likely non refundable airline costs for attendees due to the cancellation AIG will pay for the event without the benefit of the good will it was intended to provided. Everybody involved looses, but in the public's eye, the public has won because they believe that AIG was caught red handed spending the publics money six days after they got a government loan. yea they got the government money thought lets get our executives together, go to Southern California and spend $440K on ourselves at a resort. They had such a blast, they booked another executive junket up to Northern California a few weeks latter but caught this time. LOL