And with Adidas standing for "all day I dream about sex" we have a complete paragraph.
What annoys me is the fact that AIG probably wouldn't even exist today if it hadn't been for US taxpayers saving their sorry arses. And now that the US government has sold the ownership stake it took when it bailed the company out, AIG seemingly is not going to be any better regulated than it was before:
The US Treasury still has a 15.9% stake in AIG and the US$182 billion loan was only repaid last month http://www.treasury.gov/connect/blog/Pages/aig-182-billion.aspx
In other words AIG was negotiating with the NZRU whilst it was majority owned by the Federal government and had not repaid its loans. I can only conclude that the NZRU (a) didn't care & (b) is so broke that they had no option. To borrow a phrase "The All Blacks are Lions managed by donkeys"
In other words AIG was negotiating with the NZRU whilst it was majority owned by the Federal government and had not repaid its loans.
I'm not sure why that is a problem?
_I’m not sure why that is a problem?_
Maybe a suggested headline might help "Bailout recipient blows Federal Cash on sports sponsorship"
A lot of Americans are doing it tough right now as a result of the GFC induced recession of which AIG was a colossal casualty receiving a massive loan and being sold to the US Treasury. In that context looking to spend cash its been lent to keep it alive whilst millions have given up looking for work or run out of unemployment benefits is a wee bit near the knuckle I'd say.
Given that sponsorship is a normal part of business, it would seem strange if the various recipients of bailouts stopped doing it. It's just a form of advertising after all.
To be fair to AIG I can see your point Kyle. It is IMO a good deal for them as part of their rehabiltation (for want of a better word). I just think it is a very poor call by the NZRU.
a good deal for them as part of their rehabilitation
out of the red
and onto the black...