The year that stole jobs and Christmas parties
Christmas will never be the same for the staff at American International Underwriters, a unit of AIG.
For the first time in 77 years, the firm has had to cancel its Christmas party, disappointing more than 200 employees.
It has forfeited its booking deposit at the Conrad hotel following an edict from AIG chief executive Edward Liddy last month to cut back on all non-essential conferences and meetings.
Mr Liddy, appointed by the government in September after the US$85 billion bailout of AIG, is under pressure to see that the money is used wisely, especially after last month's embarrassing revelation that senior executives had blown more than US$400,000 on a jolly to the extremely upmarket St Regis resort in California.
At least he is leading by example, agreeing to accept a salary of US$1 for this year and next.