When longtime AOL executive Ted Leonsis got a holiday gift from his insurance company, American International Group Inc. (NYSE: AIG), of a Tiffany box with two champagne glasses, he got angry.
"Arrgghhh! Are you kidding me?" wrote the owner of the Washington Capitals hockey team on his blog. "Please! Save the money and keep some people employed. Give the money to charity. Take less money from the taxpayers. Why do I need two more champagne glasses? Dumbest thing I have seen this week."
Leonsis is, of course, right. The last thing AIG needs to be caught doing is wasting money on stupid crap like corporate junkets or buying rich people stuff they do not need. By the way, the most expensive Tiffany champagne glass I saw retails for $55. This underscores that the insurance company's management team does not get it.
When a company gets a multi-billion bailout from the federal government, it means things went horribly wrong. The same thinking that got them into this mess can't get them out of it. Limiting executive pay is a good first step, but more needs to be done.
Let us know if you got an expensive gift from a failed bank.
"Arrgghhh! Are you kidding me?" wrote the owner of the Washington Capitals hockey team on his blog. "Please! Save the money and keep some people employed. Give the money to charity. Take less money from the taxpayers. Why do I need two more champagne glasses? Dumbest thing I have seen this week."
Leonsis is, of course, right. The last thing AIG needs to be caught doing is wasting money on stupid crap like corporate junkets or buying rich people stuff they do not need. By the way, the most expensive Tiffany champagne glass I saw retails for $55. This underscores that the insurance company's management team does not get it.
When a company gets a multi-billion bailout from the federal government, it means things went horribly wrong. The same thinking that got them into this mess can't get them out of it. Limiting executive pay is a good first step, but more needs to be done.
Let us know if you got an expensive gift from a failed bank.
According to a story in 
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