Amid Outrage, AIG Revises Get-Together Policy

Facing sharp criticism for organizing an expensive outing to the St. Regis resort shortly after the government gave it a massive bailout, insurance giant AIG has revised its get-together policy.

From AIG:

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.