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American International Group, Inc. Message Board

  • noshortstocking noshortstocking Nov 9, 2008 10:35 AM Flag

    Anyone see this AIG news link

    AIG sales advancing. AIG's (AIG) asset sales are finally beginning to pick up some momentum. Sources say the struggling insurer is expected to reach deals by the end of the year to sell an equipment insurer and its U.S. personal lines unit, potentially valued between $5-7B. It's also making progress on the sale of a smaller business, Hartford Steam Boiler Inspection and Insurance Co. AIG has previously said it plans to keep its U.S. property-casualty, foreign general insurance businesses and an ownership interest in its foreign life operations but sell the rest.
    Fed may restructure AIG loan. Federal officials are looking into options to ease the financial strain on AIG (AIG), including changing the terms of its $85B government loan. Sources say officials may reduce the interest rate on AIG's loan or extend the duration of the two-year facility, or may choose to backstop AIG's credit-default swaps contracts. AIG's current loan terms are fairly steep at 8.5% on money it isn't borrowing and 8.5% plus three-month Libor (currently 2.39%) on money it draws down, especially compared to the 5% interest charged to banks and firms covered by the $700B TARP program.

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    • If we can break the 50 Day Moving Average watch out.

      Anyone see this AIG news link 29 minutes ago
      AIG sales advancing. AIG's (AIG) asset sales are finally beginning to pick up some momentum. Sources say the struggling insurer is expected to reach deals by the end of the year to sell an equipment insurer and its U.S. personal lines unit, potentially valued between $5-7B. It's also making progress on the sale of a smaller business, Hartford Steam Boiler Inspection and Insurance Co. AIG has previously said it plans to keep its U.S. property-casualty, foreign general insurance businesses and an ownership interest in its foreign life operations but sell the rest.
      Fed may restructure AIG loan. Federal officials are looking into options to ease the financial strain on AIG (AIG), including changing the terms of its $85B government loan. Sources say officials may reduce the interest rate on AIG's loan or extend the duration of the two-year facility, or may choose to backstop AIG's credit-default swaps contracts. AIG's current loan terms are fairly steep at 8.5% on money it isn't borrowing and 8.5% plus three-month Libor (currently 2.39%) on money it draws down, especially compared to the 5% interest charged to banks and firms covered by the $700B TARP program.

    • Why dont the NY voters get on their 2 senators to push the Secy. Tr. to include AIG in to the TARP Plan same as the big banks after all the NY retirement prog. ownes 10 mabe 15 mill shares of AIG also if AIG goes BK that will put many NY people out of work > Look at the NY loss of rev. You NY ers need to get on your reps

    • If deal made with FED to backstop CDOs, asset sales will be unnecessary. Would be best scenerio.

 
AIG
54.02-0.15(-0.28%)Sep 30 4:00 PMEDT

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