Jensen,

I've been following this story as well. The issue which is confusing to me is whether those who went on this junket were actual AIG employees.  From the report I heard, the attendees were independent insurance agents who had performed exceptionally well for the year.  In other words, they were more or less independent contractors. If they were AIG empl;oyees, I think the money should be repaid and the executives fired.

Regardless of the employment status of these agents, it was still a stupid executive decision. It's a public relations nightmare to say the least.:)

Here is a link in case anybody would like to Party Like an AIG Executive.

Party like rock star:

http://www.starwoodhotels.com/stregis/property/overview/index.html?propertyID=1361

Frankly, I couldn't tell either, sensei.  It does appear that it was a conference involving the life insurance side of aig and it is possible there were many independent contractors there as an incentive.  Insurance companies provide these types of perks to sales execs based on sales, as do other corporations.  Of course, imo this does not negate the terrible example given here.

 Almost half a million dollars?  Good god.  And, manicures?