An open message to Mr. Edward M. Liddy, Chairman and CEO of AIG

 

Last month the United States Government stepped in with taxpayer's money to save AIG. The bailout is costing the U.S. taxpayer Eighty Five Billion Dollars ($85,000,000,000.00) with the first request. 

In addition, AIG has requested an additional $37,800,000,000.00 in loans. In round numbers AIG is operating with over $100 billion dollars of taxpayer's money.

My concern is AIG is wasting my money and my fellow Americans money on excess and out of date practices in our challenging times. It's amazing that your company is so out of touch with the reality of the times. 

It's been widely reported that:  

There was an $86,000.00 hunting trip in England, and a taxpayer funded $440,000.00 weekend California retreat. 

That is over half a million on just two examples of excess spending by AGI. Is there more? 

The Board of Directors and the company's management is in charge of protecting the company's assets and the shareholders. My fellow American's and I are now shareholders, as a result of the bailout, and I would like to see our interests protected.

Sincerely,

Lou Ludwig

American Taxpayer

 

 
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9 Comments on An open message to Mr. Edward M. Liddy, Chairman and CEO of AIG

OCT
17
2008

Lou, I could not have said it better, you did, however forget to mention these Execs/Doard Members also went on an English hunting trip, probably at another large cost to us taxpayers? When is it going to stop?  
7:45am • #1
958,432 Points 24 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

In my small little world I believe that anyone in a company who has been given MY money, that earns over $250,000 should have no pay check until the debt has been paid back. They need to scale down and if that means selling one of their many homes or vehicles to live, then so be it!
7:50am • #2

Lou, more people should say this out loud!  THANKS for doing it! Trust me, I feel like every cent I earned goes to someone besides me and I am REALLY sick of it.
2:11pm • #3

I watched a C-span Video on YouTube with Elijah Cummings on this very topic and I thought it was funny, in a make me sick sort of way, how Eric Dinallo, Superintendent, New York State Insurance Department almost tried to justify the weekend California retreat as an idea to keep their employees & major traders happy during this difficult time so that they didn't run off and cause more of a problem....I would think a nice staff bbq would have been sufficient and a heck of a lot cheaper!  

 
3:43pm • #4
1,324,633 Points 37 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Tony

Thank you for your comments and insights on AIG, I did not realize that the execitives and the BOD were on the trip.

Lou Ludwig
7:41pm • #5
1,324,633 Points 37 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Ellie

Well said, the company needs to take control of their overhead, inprove thier management and eliminate the excesses and stop making excuses

Thanks for your comments

Lou Ludwig
7:49pm • #6
1,324,633 Points 37 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Cat

It time for Americans to start to speak up, a lot of good people are be harmed.

Thanks for your comments

Lou Ludwig
7:51pm • #7
1,738,067 Points 20 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Lou,

An extremely well-done and heartfelt expression of the sentiment many of us feel. As shareholders, when do we get to boot the rascals out? :)

Steve
7:53pm • #8
1,324,633 Points 37 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Danielle

There a lot of people around the AIG bail out that have not clue. There is an old saying "that cream rises to the top" in this case it's drift wood.

Thanks for your comments

Lou Ludwig
7:53pm • #9


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