8 days in a luxury place, with sunshine and colleagues

When a chairman and its workers decide to take some fresh air, we think that they take fresh air to think about future strategy and how to increase profit. All incentives are very profitable for all the companies and the place is very important. When you choose a good resort with all services your workers can breathe and de-stress. But I have a funny story or an ironical one, depend on your point of view…

The 17 of September AIG has wangled an $85 billion emergency loan from the Fed (and directly from Amercican taxpayers). In return for the loan, the government received warrants to purchase up to 80% of AIG. 

10 days after, the world’s largest insurance company spent $400 000 on a lavish corporate retreat at one of the best California’s resorts ‘St Regis resort in Monarch Beach’.

The team spent $140,000 on rooms, $150,000 on meals and drinks, $25,000 on spa treatments and $6,939 on golf.

In the same time, American economy suffers, most of people are losing their jobs, homes and health insurance and all the central banks try to save the “world”.

To finish, the Federal Reserve Board has authorized the FED to borrow securities from certain regulated US insurance subsidiaries of AIG ($37.8 billion).

Most of people are less concerned by the crisis and arrive to take some fun…