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AIG Pays Former CEO Sullivan $47 Million Severance Package
American International Group Inc. said it paid a $47 million severance package to former Chief Executive Martin J. Sullivan, whose resignation took effect Tuesday.
AIG Absorbing $5 Billion in LossesLoading...
June 27, 2008 Friday 09:32 AM EST SECTION: NEWS & ANALYSIS; Insurance LENGTH: 129 words HEADLINE: AIG Absorbing $5 Billion in Losses BYLINE: TSC Staff.
Charges Against Ex-A.I.G. Executive Dropped
Federal prosecutors have dropped criminal charges against a former executive at AIG Global Investment in connection with a supposed scheme to bribe Azerbaijan officials over the privatization of the State Oil ...
Dow's bear market run spells trouble for Wall St.
Dow's bear market run spells trouble for Wall St. COMMENT By Ellis Mnyandu Reuters Wednesday, July 2, 2008; 6:49 PM NEW YORK - With the Dow sliding into a bear market on Wednesday, the dark days on Wall Street ...
The bill for securitization of credit and the meltdown of subprime mortgages and other collateralized debt obligations ratchets up to $500 billion.
The San Francisco Business Times
UTStarcom to sell handset business to AIG for $240 million
UTStarcom Inc. agreed to sell its "personal communications" division, which sells phone handsets, to a unit of AIG Investments for about $240 million.
Energy sector leads stocks up as oil hits record
Stocks rose on Monday as record crude oil prices lifted energy shares on the final trading day of the month and the second quarter, offsetting a financial sector sell-off on fears of further credit losses.
Dow Suffers Worst First Half Since the 70s
The Dow and S&P 500 were little changed on Monday on the final trading day of the second quarter as record oil boosted energy shares, offsetting weak financial stocks amid nagging concerns of further credit ...
Mish's Global Economic Trend Analysis
AIG Absorbs $5 Billion Securities Lending Loss
Repeating a pattern of larger than previously announced writeoffs prevalent in the entire financial sector, AIG to Absorb $5 Billion Loss on Securities Lending .
AIG set to assume US$5b in losses
AMERICAN International Group Inc plans to absorb losses for a dozen insurance units after their securities-lending accounts suffered US$13 billion of writedowns tied to the subprime-mortgage collapse during the ...
Report: AIG sees up to $5 billion in losses on securities lending
American International Group Inc. could assume as much as $5 billion in losses on the sale of assets its subsidiaries purchased with collateral obtained from securities lending, Bloomberg News reported June 27, ...
AIG Won't Sell Off Aircraft-Leasing Business as It Reviews All Operations
American International Group Inc., the world's largest insurer by assets, said its aircraft-leasing unit won't be sold off as the parent company tries to recover from back-to-back quarterly losses.
GMR acquires 50 percent in Dutch firm for USD 1 bn
New Delhi, June 25 : Infrastructure developer GMR Wednesday announced it has acquired a 50 percent stake in Dutch power utility InterGen NV for $1.1 billion.
Analysts Backtrack on Banking Stocks Two Weeks After Saying Worst Is Over
Wall Street analysts who only weeks ago were telling investors to buy bank stocks because the worst of the credit crisis was over are now flip-flopping. Goldman Sachs Group Inc.
Stocks were expected to open lower Monday as the price of oil spiked higher again, and the financial crisis created more headlines to worry investors.
BestWeek: After the Fall, Fence Mending at AIG
Willumstad confirmed through a spokesman that he met with Greenberg on June 19, and described the meeting as "positive," but declined to comment further.
CEOs pay price for corporate failures
RUNNING an insurance company turns out to be at least as hard as managing a securities firm.
Insurers Broaden Coverage for Climate Change Risks
Insurers are developing new ways to help commercial customers adapt to emerging climate change risks, a panel of experts said today.
AIG's Chief Willumstad Seeks Better Ties With Ex-CEO Greenberg at Meeting
American International Group Inc. 's new leader Robert Willumstad is scheduled to meet today with Maurice ``Hank'' Greenberg , who built AIG into the world's largest insurer and helped force out Willumstad's ...
Market flat on weak factory data, but AIG up
Stocks were little changed on Thursday, with the Dow hovering around the 12,000 level, after a regional report on factory activity fell more than expected, raising doubts about the economy's health.