Stick a fork in AIG already, they’re done. DBG is underwater and has been for years. Very very soon we will all see the real mess AIG is in. Wait until the due diligence is completed on the P&C operations, including Lex. It will be a fire sale if any buyer surfaces. With grossly underpriced business, broad coverage terms and reserves that are a joke this house of cards will be nothing more than a halloween ghost.
The same Paula Reynolds that just received $20M for selling off Safeco????? Guess she didn’t read about AIG cutting big exec. packages………. or did they???
I was just going to look her up myself and see why she left Safeco. Well that explains it. You take it down and then sell it off and make millions. I guess she would be the person to bring on board to sell off a company. lol
AIG needs to renagotiate with the goverment on the stock. By doing this it would stop the fire sale of the assets and make the stock rise.It is sad to watch this national asset be hawked off by a bunch of hacks.
the chick from safeco used to work for a large utility company. her approach to safeco was like that of every other utility company – lower expenses (lay-offs), bigger dividends for those poor widowed stock holders, and then sell of whats left after all the downsizing and make a tidy profit off other’s misfortunes. she’ll fit in with at AIG, i’m just so tired of paying for everyone else’s greed.
I’m so tired of AIG limping around like Oliver Twist asking for more… $70 billion wasn’t enough biscuts for them so they got another $40 billion… now they might need more? No… absolutely not… not until they demonstrate they have a plan to restructure in such a way that will save jobs at or near current levels, cut executive bonuses and payouts, and pay back 100% of any money they “borrow”.
No matter what they do with the divisions they plan to liquidate there’s almost guaranteed to be massive lay-offs, site closures, etc. What exactly are we buying here, where’s the payoff?
This whole thing stinks… it’s not floating a loan to a somewhat sound company to keep them afloat (like the auto manufacturers in the 1980’s)… this is just throwing money at a problem and hoping it all works out.
AIG, as my mom told me when I turned 18… “You’re cut off, better get a job ans start supporting yourself.”
And since Liberty Mutual just bought Safeco, it’s obvious they didn’t feel she was worth keeping and that’s why she was looking for a job. She landed this one because she knew somebody somewhere who recommended her. I didn’t see it posted on Monster.
I think that you can always call on Paula the “Grim Reaper” whenever you need to put lipstick on the pig. Wonder what poor carrier she’ll break apart next after she gets done dismantling AIG?
We have wasted way to much Taxpayer money on this. All of AIG needs to be sold off to the highest bidder and let the Taxpayer regain their investments. The last thing we need is the US Goverment trying to operate an insurance company. Who cares if AIG survives or not? Why should they? NO diffrent than just another company like the Home ,USFG, ST Paul, Safeco and others . This is total BS and all of AIG needs to go on the Block now let’s get what tax money we can back and move on.
Remember this “money down a rat hole” when you vote. There is a Socialist on the ballet who wants to “redistribute” your money for you, and a US Constitutionalist who at least understands a free market and respects your ability to handle your own money.
If a company with $85 billion in surplus (net worth) needs $120 billion in loans, the math tells me they are bankrupt. Also, since borrowed money is a liability not an asset, how has AM Best been able to provide a “secure” rating. AIG cannot sell off its parts fast enough to get ahead of the 10% interst and make much of a dent in the principal. Astronemer have classified this condition as a black hole. Food for thought…..
Interesting world in which we live, to wit: EX-Safeco sell-out specialist Paula Reynolds gets hired to do some of her handiwork at AIG after leaving Safeco with millions(maybe she can loan AIG some). Only question remaining is if she is going to take with her, one of her prominent board menbers at Safeco,Kerry Killinger, CEO of Wash Mutual, who used his vast knowledge to take down the largest S & L in the country. He’d have a lot of experience allowing him to explain why you get to make a bunch of money as you bankrupt your company.
We want Hank back!!
Didn’t most of these transactions occur on his watch ?- my guess is yes.
Stick a fork in AIG already, they’re done. DBG is underwater and has been for years. Very very soon we will all see the real mess AIG is in. Wait until the due diligence is completed on the P&C operations, including Lex. It will be a fire sale if any buyer surfaces. With grossly underpriced business, broad coverage terms and reserves that are a joke this house of cards will be nothing more than a halloween ghost.
Truer words were never spoken.
The same Paula Reynolds that just received $20M for selling off Safeco????? Guess she didn’t read about AIG cutting big exec. packages………. or did they???
OMG, enough already with the bailout money – we are pouring billions and billions into the black AIG hole
I was just going to look her up myself and see why she left Safeco. Well that explains it. You take it down and then sell it off and make millions. I guess she would be the person to bring on board to sell off a company. lol
AIG needs to renagotiate with the goverment on the stock. By doing this it would stop the fire sale of the assets and make the stock rise.It is sad to watch this national asset be hawked off by a bunch of hacks.
the chick from safeco used to work for a large utility company. her approach to safeco was like that of every other utility company – lower expenses (lay-offs), bigger dividends for those poor widowed stock holders, and then sell of whats left after all the downsizing and make a tidy profit off other’s misfortunes. she’ll fit in with at AIG, i’m just so tired of paying for everyone else’s greed.
I’m so tired of AIG limping around like Oliver Twist asking for more… $70 billion wasn’t enough biscuts for them so they got another $40 billion… now they might need more? No… absolutely not… not until they demonstrate they have a plan to restructure in such a way that will save jobs at or near current levels, cut executive bonuses and payouts, and pay back 100% of any money they “borrow”.
No matter what they do with the divisions they plan to liquidate there’s almost guaranteed to be massive lay-offs, site closures, etc. What exactly are we buying here, where’s the payoff?
This whole thing stinks… it’s not floating a loan to a somewhat sound company to keep them afloat (like the auto manufacturers in the 1980’s)… this is just throwing money at a problem and hoping it all works out.
AIG, as my mom told me when I turned 18… “You’re cut off, better get a job ans start supporting yourself.”
It’s unfortunate that employees let go for cause often are the most bitter.
“May need” really means “Desparately need.”
Unfortunately, the winds are all blowing at gale force for AIG…in the wrong direction.
Just remember it was a former AIG executive that brought down Kemper. NO MORE BAILOUT MONEY! When will America wake up?
And since Liberty Mutual just bought Safeco, it’s obvious they didn’t feel she was worth keeping and that’s why she was looking for a job. She landed this one because she knew somebody somewhere who recommended her. I didn’t see it posted on Monster.
I think that you can always call on Paula the “Grim Reaper” whenever you need to put lipstick on the pig. Wonder what poor carrier she’ll break apart next after she gets done dismantling AIG?
We have wasted way to much Taxpayer money on this. All of AIG needs to be sold off to the highest bidder and let the Taxpayer regain their investments. The last thing we need is the US Goverment trying to operate an insurance company. Who cares if AIG survives or not? Why should they? NO diffrent than just another company like the Home ,USFG, ST Paul, Safeco and others . This is total BS and all of AIG needs to go on the Block now let’s get what tax money we can back and move on.
You are too funny!!! I couldn’t of said it better myself.
Remember this “money down a rat hole” when you vote. There is a Socialist on the ballet who wants to “redistribute” your money for you, and a US Constitutionalist who at least understands a free market and respects your ability to handle your own money.
As the old Stones Album was titled: “Let It Bleed.”
If a company with $85 billion in surplus (net worth) needs $120 billion in loans, the math tells me they are bankrupt. Also, since borrowed money is a liability not an asset, how has AM Best been able to provide a “secure” rating. AIG cannot sell off its parts fast enough to get ahead of the 10% interst and make much of a dent in the principal. Astronemer have classified this condition as a black hole. Food for thought…..
Interesting world in which we live, to wit: EX-Safeco sell-out specialist Paula Reynolds gets hired to do some of her handiwork at AIG after leaving Safeco with millions(maybe she can loan AIG some). Only question remaining is if she is going to take with her, one of her prominent board menbers at Safeco,Kerry Killinger, CEO of Wash Mutual, who used his vast knowledge to take down the largest S & L in the country. He’d have a lot of experience allowing him to explain why you get to make a bunch of money as you bankrupt your company.
NO you dont want Hank back there. All these transactions happened in his watch………..his 2 sons cant even stand him.