AIG Hosts Seminar While Seeking Additional Federal Aid

By: Associated Press
By: Associated Press

American International Group is defending a sales meeting it held at a luxury resort in Arizona, saying it was a necessary training tool.

ABC News initially reported on the Phoenix meeting hours after the Federal Reserve and Treasury Department announced an infusion of another $40 billion into the ailing insurance giant.

AIG officials maintain the meeting held last week was a legitimate event that helped train about 150 independent financial advisers.

A spokesman adds that while some previous AIG-sponsored events may have been questionable, this one was needed to help the company move forward in paying back taxpayers backing the government-sponsored bailout package.

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  • by Stephanie Location: Colorado Springs on Nov 11, 2008 at 12:34 PM
    Yeah, training seminars are necessary, but not at "resorts" or any place like that. Rent a high school gym or something! It's that kind of spending that got them into this mess to begin with and now we're paying for it. Way to go!
  • by A Location: COS on Nov 11, 2008 at 11:53 AM
    Um....Hello.....Resort in Arizona? Why weren't we invited? It was our money you spent!
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