Sorry but this party is over. Share buybacks should not increase market cap and should only increase pps. All AIG is doing is throwing away cash on share buybacks at high prices. ADT did the same thing and look how great it worked out for them. AIG would be better off using the funds to increase actual net earnigs because their revenue is on a severe decline.
If the CEO gets another 40% boost in pay while this company makes less money you will see a big selloff from shareholders. The board does not have the companies best interest in mind imho.
The party is over? Was AIG was ever easy money? The mission of the company is to maximize return to shareholders (consistent with good corporate citizenship, of course). That 10% return on book (excluding AOCI) is due in large measure to those buy backs. AIG has a viable growth strategy. But growth for its own sake is reckless and wasteful. As long as the market is selling AIG for 75 cents on the dollar, I'm willing to own a business that is shrinking its float faster than its revenues. If you owned a significant stake in this company, you'd likely feel the same.