Tag Archives: AIG

The Taliban and Pakistan: An Unholy Alliance


With our economy in shambles, unemployment growing, AIG taking more in bonuses than already announced, automakers going bankrupt, troops going into Afghanistan, so much debate about torture in the last administration, there seems to be little focus in Congress on a true national security crisis: the growing relationship between the Taliban and the government of Pakistan. An odd relationship, one where I imagine each side wants to be rid of the other, but where each is equally co-dependently dysfunctionally relient on the other, like a cancer to its host.   To learn more, just read this excellent article in this week’s Newsweek by Fareed Zakaria, which can be found here: http://www.newsweek.com/id/173014. Until we can understand the problem, we’re just helping the cancer spread, and ironically, it may affect us. Congress needs to immediately stop all military assistance to Pakistan, and then pass the Biden-Lugar bill. — Jeff

Advertisements

Episode 31 – GM Driven to the Brink


cropped-politalk-banner-770x140.jpg

What we have in GM and its bailout is a failure of imagination, a failure to communicate and a failure of execution. At PoliTalk, we keep our egos in check, but we take pride in bringing our substantial experience in politics and business to bear in communicating what’s really going on in Washington, and what it means for us. To this end, kudos to Glenn for predicting exactly what happened this weekend with GM months ago. In this episode, Glenn continues to call for GM to go into bankruptcy. Jeff and Glenn also speak passionately about the double standard being applied, where auto execs get fired and workers are asked to renegotiate their contracts, but financial services execs keep their jobs, and their bonuses, and we’re told their employees get to keep their bonuses because they were under contract. They also explain why Alberto Gonzolez won’t be traveling to Spain anytime soon, and why Sarah Palin may not be including John McCain on her Christmas Card list. Get the real scoop here on PoliTalk: the place where political insiders come to get the outside the beltway view on how their politics and policy gets traction, and where those on the outside come to get a real inside view on politics and policy in Washington. Always informative, entertaining and authentic, it’s  PoliTalk, featuring Glenn Gaudet and Jeff Kimball — two seasoned political and business pros.

Listen to the current installment of PoliTalk and get yourself informed, inspired, entertained and ready for the day… spread the word… tell two friends, and so on and so on…

You can get the PoliTalk Podcast from Podcast.com and iTunes.

Episode 29 – PoliTalk vs. AIG & Big Media


cropped-politalk-banner-770x140.jpg

Is there anyone Glenn and Jeff don’t take on in what might be the most spirited episode of PoliTalk. The boys of PoliTalk dig deeper than the alluring media headlines about the AIG bonus, explaining exactly what happened, and the systemic issues that need to be addressed to avoid another AIG type problem. Then they turn their fire on some in the media, who have failed to live up to the high journalistic standards set by… Comedy Central’s Jon Stewart (yes, that’s right). They ask the interesting question of how Dick Cheney’s recent interview would go had Jon Stewart conducted the interview, and wonder why there isn’t more true investigative reporting anymore?  It’s refreshingly honest, informative and always entertaining. It’s PoliTalk — your weekly source for political news and current events.

Listen to the current installment of PoliTalk and get yourself informed, inspired, entertained and ready for the day… spread the word… tell two friends, and so on and so on…

You can get the PoliTalk Podcast from Podcast.com and iTunes.

AIG Spends $86,000 for a Hunting Trip in England


Despite what AIG said to this very blog on October 9… and I quote:

A short time ago, our Chairman and CEO Ed Liddy said that he has ordered the immediate cancellation of all outside meetings, conferences, and recognition events across AIG, except those that are required by law or that are deemed absolutely critical to sustain our ongoing business needs.

AIG now finds itself justifying yet another extravagant expenditure. This time it is $86,000 for an executive hunting trip in England. Company spokesman Peter Tulupman responded Wednesday morning by saying,

This was an annual event for customers of the AIG property casualty insurance companies in the U.K. and Europe, and planned months before the Federal Reserve Bank of New York’s loan to AIG.

According to the Associated Press:

AIG officials declined to say which AIG executives attended the trip, which reports have said racked up an $86,000 tab. News of the hunting trip surfaced just days after AIG received an additional $37.8 billion loan from the Federal Reserve, on top of a previous $85 billion emergency loan granted last month.

Apparently, this “outside meeting” is deemed absolutely critical to sustain their ongoing business needs.

Hey AIG… I want my $122.5 billion bailout back!!!!!

AIG Responds to PoliTalk on Executive Retreat Controversy


Today, AIG responded to us on the coverage of the recent expenditure of $440,000 on an executive retreat that we posted to the PoliTalk blog.

AIG states:

Earlier today, AIG announced an important policy change – one that we wanted to be sure you knew about.

A short time ago, our Chairman and CEO Ed Liddy said that he has ordered the immediate cancellation of all outside meetings, conferences, and recognition events across AIG, except those that are required by law or that are deemed absolutely critical to sustain our ongoing business needs.

Given AIG’s commitment to our customers, business partners, regulators, and American taxpayers, coupled with the new and very different challenges our company now faces, we take these responsibilities extremely seriously. Their trust is critical to our success. We recognize the need to be sensitive about all company expenditures.

As we move forward, we will continue to focus our efforts to pay back the $85 billion loan from the Federal Reserve Bank of New York as quickly as possible.

I applaud their acknowledgment of the need for serious policy changes in terms of how they are doing business. I can only wonder if these changes would have come about without the spotlight of public scrutiny.

AIG Blows $440,000 for a Corporate Retreat After Bailout


According to FOX Business, after getting a financial bailout from US Taxpayers of $85 billion, insurance giant AIG spent $440,000 for a corporate retreat at the St. Regis Monarch Beach resort in Los Angeles, California. FOX Business goes on to say:

According to the receipt from the St. Regis, the eight-day company retreat was a lavish one — $139,000 was spent on hotel rooms, while even more money — $147,301 — was spent on banquets. Another $23,380 was spent on undisclosed spa treatments and another $6,939 was spent on golf. A full $9,980 was spent on room service and food and cocktails at the hotel lounge.

Fellow taxpayers… have you had enough yet?