It's a balancing act. You can't just shut down all advertising and promotion because your business is hurting. That can take a business from "in trouble" down to "gone". Having said that, there's no way any of us can say whether or not this is justified becasue we don't know the back story on committments, advertising, etc. that go along with it.
the other side of that story (as i have pointed out in other threads) is that these businesses didnt start going south yesterday. BOA was hurting a long time ago, and when they started hemoraging money is when they should have started looking at "being prudent". but they didnt if they started planning a 10 mil superbowl party anyway. instead, they went on business as usual.
It's a no win situation. No one bothers to get all of the facts. AIG continues to catch flak for an alleged incident that never happened. A lot of the "watchdogs" out there are nothing more than meddling busybodies.
I suggest everyone go read that entire article and the few others available online. They didnt spend 10 million on a party. The 10 million is what they paid in sponsorship money for the right to be called the "Offical Bank of the NFL". Its totally separate from this so called party which is fact wasnt a party at all. This was an interactive gaming experience for football fans they charged admission to. There isnt anything in that article that says BOA "spends 10 million on super bowl parties". :rolleye33:
That isnt all the details, still doesnt matter the money went towards the Superbowl, I believe people should be uncomfortable with the amount.
Then why dont you enlighten us with the details? You title a topic "BankofAmerica Spends 10 Mill on Superbowl Parties" and there isnt a single quote in the article that says they spent 10 mil on parties or anything to even suggest they spent 10 million on parties. Talk about a colossal misrepresentation of whats contained in the article.
NBC got billions in ad revenue from the Superbowl. Giant corporations like Pepsi, Anheuser Busch, etc. spend hundreds of millions in advertising and sponsorships. It's part of doing business. From Wikipedia: Even post-bailout, you cannot go into a shell and hope your business thrives. I suspect, however, that Citi was locked into this for a while.
I was trying to keep this civil, but sense you insist on being an azz, then fine. I should have put in the title, Superbowl Festivities, not parties. Its still wasteful in my opinion and it should have been scaled back.
