It may not be Christmas yet, but AOL CEO Randy Falco is feeling downright jolly despite the company's recent layoffs of thousands of employees. At a roast held in his honor by the Center for Communication, Falco traded quips with execs from NBC Universal, where he worked before joining AOL. After his former colleagues made fun of laid-off AOLers, Falco proceeded to play an audio recording of a call where he supposedly pitched incoming Time Warner CEO Jeff Bewkes on switching AOL from a subscription business to advertising. One small problem: Former AOL CEO Jonathan Miller, the man whom Falco replaced, actually came up with that idea. So, to review:

Not only does Falco redirect the corporate jet for his own convenience and move the company headquarters closer to home. He also takes credit for others' accomplishments, and approves of mocking people who just lost their jobs. No wonder rumor is that he's got a bright future ahead of him at Time Warner.

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