Posts Tagged “AIG”

Manchester Loses 4 to Pfftt…

"Football is an emotive sport..."

"Football is an emotive game..."

In an obvious snub to Manchester’s team sponsor, AIG, a referee issued a foul to an offensive player for “breaking wind” as a penalty was being taken.

The official deemed the act “ungentlemanly conduct” and booked the flatulent player. Chorlton Villa went on to win the match 6-4 against local rivals International Manchester FC at Turn Moss in Stretford, Manchester, last Sunday.

Chorlton manager; Ian Treadwell said his players’ behavior was “normally exemplary”.

“We are not a dirty team and we like to play football. While I won’t condone the actions of the players, it is an emotive game…”

Having their own sponsor woes, Treadwell went on saying; “this has come at a bad time in the season as we don’t have sponsor and we are looking for a new sponsor for next season.”

Pauline Riley, secretary and treasurer of International Manchester FC, said: “Both teams are very friendly. There’s no animosity. It was just hilarious.”

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DEAL WITH IT:

Gstaad, Switzerland: In a science way, the Losungen Institute of Lividity has defined stress as anything we didn’t ask for. Symptoms are always manifested by thoughts of “WTF,” or “this sucks.” It’s the mind’s way of rising to an occasion when you have no more fundage to throw at the challenge to make it go away.

Researchers at the Losungen Institute discuss funding issues.

Researchers at the Losungen Institute discuss funding issues.

Researchers in the eliomosinary branch of the Institute have discovered a link that takes you to the Trail of Destruction site where you can make movie clips of places you’d just as soon see included in the path of mayhem.

Whilst there, simply enter the desired location, and off it goes – just as I have here “destroyed” the AIG headquarters building in New York City.

SAY SAYONARA TO AIG at 60 WALL STREET, NYC:

This bit of fun is brought to you by some clever folks who hope to sell The Day the Earth Stood Still, two-for-one DVD’s.

Good show!

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Recession knows no bounds…

Typical Early 21st Century Mashardon style roof near Hungerford, UK

Typical Early 21st Century Manshardon style roof near Hungerford, UK

I know, I’m tired of my “my dick is bigger than your dick,” AIG executive bonus stories too, but this is a boner worthy of note, so indulge on. – the Editor.

Preface Conversation:

“Well-sir, you know, with an older roof  like yers, it could be most anything. You got yer blisterin’ problems, puddling, or rot. Blow-offs ain’t no good, and you might just have a bad case of yer billowin’ or seepage. But buddy, if ya ask me, I’d say it’s probably just not hung right.”

Oh, it’s hung right, alright, all 60 some odd feet of it

Turns out some teenager named Rory McInnes did what teenagers do, and painted a giant phallus on the roof of his parents’ West Berkshire, England mansion, apparently after watching a show about Google Earth.

So he says, and, uh huh – right. Want a cookie?

The lucky duck is riding all this out on a beach in Rio for a year, thanks to his doting dad, who can’t be blamed for not wanting this prick around the house. But, let me tell you this, there’s something deep-seeded, bad wrong with this kid, and I’m saying, the recession is to blame.

I remember reading a scientific piece about this type disorder years ago, and a Cornell University researcher by the name of Robb Willer proved that men tend to overcompensate when they get their macho miffed.

Willer, who overcompensates his first name – Rob, with two “b’s,” said in 2005; “I found that if you made men more insecure about their masculinity, they displayed more homophobic attitudes, tended to support the Iraq War more and would be more willing to purchase an SUV over another type of vehicle,” said Robb, a sociology doctoral candidate at Cornell.

Now, I didn’t follow-up to see if Robb got that degree, but, the way these go, he likely did, and got a government funded research grant to boot. After all, this would be a hard study to turn down.

The Cerne Abbas Giant, another UK penile projectorate dating back to the 17th century.

The Cerne Abbas Giant, another UK penile projectorate dating back to the 17th century.

Anyhow, as expected, our English buds across the US Ocean have long displayed issues with overcompensation, dating way back to the days of yon Oliver Cromwell.

The Cerne Abbas Giant, crop-like drawing thing here,  outside of Dorchester, England, is a legend and a popular spot of conjugation with tourists, doing what tourists have done forever, but usually at night, or so they say. I’ve not been, so, beats me.

This, however, just might afford some inherited, latent genetic explanation as to the overcompensation disorder surfacing among workers in the insurance and other US industries of late. You might wanna see if any of your peeps came over on the Mayflower or Pina. A case of overcompensation should should not be taken lightly.

Closing Giant Factoid:

During the Second World War, the Giant was altered a wee bit, in order to prevent the penetration of London by the German Luftwaffe. London survived, and the Giant was re-erected and has been visible since, getting mowed often, and a re-chalking every 25 years, or as desired by the National Trust.

Stiff upper lip, and cheeky, those Brits.

CLARENCE CARTER is STROKIN’

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RECESSION RE-BRANDING:

Years ago, somebody made Andre Agassi say; image is everything, and Nike sold a bunch of made in China sneakers. Little did they figure, Andre’s hair receded quickly, and then, that double-faulted that.

AIG becomes the new "419"

AIG becomes the new "419"

AIG and the country of Nigeria now share the same problem. Both are furiously pulling out their hair, trying to come up with anything to restore that group-hug endearment both once publicly garnered.

People don’t exactly hum “kumbaya” when you bring up the subject of the world’s biggest scamming company and/or country, and changing your name ain’t easy or cheap. Think all those road signs, ball fields, bic pens, squeezie-balls, flags, military uniforms and such – it adds up fast.

Remember Enron, WorldCom, Vivendi and East Germany, to name bomb a few brands? Each spent hundreds of millions on new monikers and, sometimes it works, and other times, well, when you’re dead, you really are – dead.

AIG is testing the marquee’s with “AIU Holdings, Ltd.,” whilst Nigeria is beating the bushes with “Nigeria: Good People, Great Country.” I say; bluh and re-bluh. Neither one of these is going to work, but, after a Eureka moment, I’ve come up with identy solutions for both, and it’s dirt cheap – my gift, perfect for a cash-strapped company and/or country.

Stay with me on this. Numbers are everywhere and tres trendy right now, but not big numbers. (Numbers Fashion Tip: avoid the faux pas of mixing digits and commas, lest you look  like a politician or a derivatives trader – so, 20th century in our new, hip, less is better, society). So, I’m saying AIG becomes the small number “419,” which is already widely known as the penal code section of Nigerian law covering spam scams and criminal activity. I mean, Nigeria won’t be needing this anymore, and 419 will easily fit on the AIG signs without commas, right? Genius.

Nigerian Embassy on M Street in Washington, DC undergoing - change.

Nigerian Embassy on M Street in Washington, DC showing it's aig.

For Nigeria, I’m thinking; “Nigeria, coming of AIG,” because “aig” sounds like “age,” if you pronounce it in European, and anything and everything European is a slam-Swedish meatball these days, n’est pas?

Yes, I realize Nigeria is not exactly in Europe, but that’s of no matter. Sacre bleu and wtf, it’s a small planet, and even the almost Vice President Sara Palin was clueless of the whereabouts of Africa for chrissakes, so what’s the diff? And besides, major bonus – talk about savings on signage, oy! I’ll betcha Ed Liddy will let that AIG alphabet trio go for a World Beat.

Gawd, I’m good!




Uzodinma Okpechi – “I Go Chop Your Dollar”

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SKIP THE “LEGACY ASSETS”

John F. Kennedy and tobacco executive at the Greenbrier, 1958

John F. Kennedy and tobacco executive at the Greenbrier, 1958

I don’t think my “buyer’s broker;” Treasury Secretary Tim Geithner, is  getting a mental picture of what it is I want to buy. He keeps pushing me about this low money down, 8 to 1 leveraged, great deal on something he calls “legacy assets,” which turns out to be nothing more than a bunch of non-performing residential real estate loans spread out in more places and with more weed overgrown yards then I could mow in a lifetime.

What’s up with that? Whilst he was hawking this plan, we totally missed out on a “legendary asset” plum of a property deal with a heck of a lot more curb appeal.

When I wasn’t looking, the Marriott people scarffed-up the Greenbrier Resort in White Sulfur Springs, West Virginia. Talk about your “legacy assets,” this place has has hosted royalty from the world over and 26 US presidents since opening in 1778, before we even had a president. Yes, George Washington “slept here,” but remember, he did not take office until 1789.

The Greenbrier Resort, Ehite Sulfur Springs, WV

The Greenbrier Resort, Ehite Sulfur Springs, WV

This deal includes 6,500 acres of pristine real estate tucked beautifully away in the Allegeheny Mountains, a historic, five diamond rated landmark hotel replete with 721 rooms, including 33 suites and 96 guest and estate houses. The Greenbrier has 10 lobbies, 40+ meeting rooms and a complete, state of the art, conference center facility. Guests enjoy over 50 recreational activities including 3 championship golf courses, indoor and outdoor tennis courts and a 40,000-square-foot spa.

The price for all this? Zero money down, and maybe as low as $60 million, not due for seven years. Need a deal sweetener? On top of the 100% seller financing, how’s about $50 million cash folding money from the seller paid over the first two years to spend as you need in taking care of the place. Whoa! Sorry Tim, I gotta get a better broker.

Also, consider this. Any real estate broker worth his legacy asset, will show you that during tough economic times, resort real estate is the last to go, and the first to bounce back. Go figure – might be a law, I don’t know.

But wait, there’s more! Deep beneath all this opulence, is concealed an underground, 110,000 square foot shelter/compound built in 1958, ostensibly to protect all members of Congress in the event of a nuclear tiff. A classified government secret until 1995, these “bonus rooms” are now open to any of the tourist class interested in a stroll down “atomic age-doomsday lane.”

Twenty-five ton steel "safety" door built by the Mosler Safe Company at the Greenbrier Resort

Twenty-five ton steel "safety" door built by the Mosler Safe Company at the Greenbrier Resort

A 25 ton blast door built by the Mosler Safe Company, swings open to reveal a dormitory of  bunk beds, a sterilized hospital, a radio/television broadcast station, an industrial kitchen and a cafeteria complete with 1960s vinyl chairs. Long corridors lead to the authentically replicated House of Representatives Chamber adorned with a full size American flag and speaker’s lectern.

Just imagine the glow on your guests and theme party possibilities in booking say, your second or third wedding reception here!

This secretly constructed, and taxpayer funded, bunker “wing” of the Greenbrier, of course, was never used, however, did get a “ready, set – maybe” wake-up call once during the Cuban Missile misunderstanding. Turn-down service, pillow mint, anybody?

Snapping back to the “real world,” it’s probably just as well that the government passed on buying The Greenbrier. Albeit great potential aside, selling me and my fellow taxpayers on spending more on a “shovel – already paid for that” project might test our already frazzled  nuclear nerves.

For complete and fascinating reading on the Greenbrier Bunker and ‘Atomic Tourism,’ head over to visit my friends at Conelrad. Journeyman Pictures of the UK has an excellent video presentation of the Greenbrier bunker available for your viewing pleasure by clicking HERE.

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CLAW FOR A CLAW:

“there ought to be a law…”

After a really bummed-out day, Senator Chris Dodd and Treasury Secretary Timmy Geitner enjoy "Seafood Nite" in the AIG executive dining room with host; Ed Liddy, CEO of AIG

After a really bummed-out day, Senator Chris Dodd and Treasury Secretary Timmy Geitner enjoy "Seafood Nite" in the AIG executive dining room with host; Ed Liddy, CEO of AIG

WASHINGTON  -  After earlier vehemently denying all knowledge whatsoever, Senate Banking Committee Chairman Chris Dodd admitted in a full reversal on Wednesday he was indeed responsible for a legislative loophole that let AIG pay executives $165 million in bonuses, adding that he acted at the behest of the Obama administration.

The back-peddle was; “We wrote the language in the bill to deal with bonuses, golden parachutes, excessive compensation — executive compensation, that was adopted unanimously by the United States Senate in the stimulus bill,” said Dodd, a Connecticut Democrat.

And so, the language worked as intended, and that’s that. This explains how and why the AIG Financial Products boys are entitled to their taxpayer funded $165 million in bonuses.

Senator Chris "The Claw" Dodd vows to push for return AIG bonuses using clawback methods

Senator Chris "The Claw" Dodd vows to push for return AIG bonuses using clawback methods

As a side dish, Chris Dodd  took in more than $103,000 in the 2008 election period from this same disaster division of AIG, based in Wilton, Connecticut. Dodd, serving since 1981, is the Senior Senator from the State of…Connecticut.

Not that it really matters, but it’s only fair to note that the Obama campaign too benefited from substantial AIG contributions.

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THE BUCK STOPS…NOWHERE:

Edward Liddy, CEO of AIG, thinking about what there is to think about.

Edward Liddy, CEO of AIG, thinking about what there is to think about.

Edward Liddy, CEO of AIG is rumored to testify on Wednesday at a U.S. congressional hearing on the bailout of the troubled insurer. Gee, it’s about time, don’t ya think?

No word on whether or not this one is going to be televised, but if even on pay-per-view, sign me up. Aside from the obvious questions about bonus pay and such, I really just want to hear what this guy has been doing since taking the “helm” of this barge, way back in June, 2008.

Separately, at a press conference yesterday in the White House East Room, in decrying the misdeeds AIG, President Barack Obama attempted a really lame joke:

“Excuse me,” he said Monday, after coughing into the microphone. “I am choked up with anger here.”

There is nothing remotely funny here, and this, do nothing, “I’m just as upset as you” attitude from Mr. Obama is an unnecessary waste of copious amounts of both time and money.

Let’s get clear on this. If the numbers from the government are to be believed, AIG has been bailed out three times thus far for $180 billion. The “deal” sold to the taxpayers, was to replace the AIG CEO with Liddy, and take a preferred ownership of 80% of firm’s equity. Liddy’s job was to, at a bear-bones minimum, protect the taxpayer’s “investment,” and hopefully make us a buck or two.

Ensuring the taxpayers interest at Insuror AIG's HQ in NYC

Ensuring the taxpayers interest at Insuror AIG's HQ in NYC

When you get a “clean-up” job like this, the first order of business is to find out what where the “dogs” are hiding, to avoid getting twice-bitten. It’s just that simple, and if this task is too grand, then you go get a new “dog catcher.” Mr. Obama – do something – this solvable problem is running ahead of what you were elected to do, and people are taking notice.

Edward Liddy, for whatever reason, is not doing his job. Perhaps he’s lost interest since dropping his million dollar salary down to a buck, but he’s no turnip when it comes to running a business.

Liddy is currently on the board of 3M and The Kroger Company. Prior to taking the AIG gig, Liddy had to resign his board position at Goldman Sachs to avoid conflicts in what is now becoming and yet, another taxpayer fed money eating, double-dipping “counterparty” dog to bite our AIG.

Liddy is also the former chairman, president, and CEO of Allstate Insurance. Before Allstate, he held the position of chief financial officer of G.D. Searle & Company, where former Defense Secretary Donald Rumsfeld held the CEO position. Additionally, he has recently become a partner at the private equity firm of  Clayton, Dubilier & Rice, which he joined in 2008. Educated at and with a degree from Catholic University of America, he also holds an MBA from George Washington University.

Suffice to say, the insurance business is not “over his head” or pay grade, so the question remains – what exactly has Mr. Liddy been doing at AIG since June 2008? If not too late already, maybe somebody will “man-up” and give us some answers – we deserve, and should settle for no less.

A man waits for...something. At the back door of AIG in NYC

A man waits for...something. At the back door of AIG in NYC

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