AIG May Rethink Strategy of Asset Sales in Tough Markets

February 25, 2009

  • February 25, 2009 at 7:08 am
    A priest walks into a bar... says:
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    Read: We have decided that we will just hang on to the billions of tax payer dollars that we have been given and use this as leverage to run up the price of assets that the market dictates should be low. Management at AIG recognizes that this is a where capitalism and socialism meet but they do not care because they have been and will continue to be greedy. (((wake up! manage your business or it will have no value!!! you are the problem – you are not even attempting to become part of the solution!!)))

  • February 25, 2009 at 7:20 am
    common sense says:
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    Enough of this BS. Just start selling pieces of the pie and give the US taxpayers their money back. Even at a fire sale at least we can get something before all they are worth is the furniture & fixtures. How ya living Hank?

  • February 25, 2009 at 9:07 am
    Darwin says:
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    To use the baseball term – strike three you’re out!

    No more bailout, no more money, put them down, and move on. AIG is not worth saving!

  • February 25, 2009 at 9:37 am
    An agent from Arizona says:
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    I have no doubt that the business AIG has on the books can easily be absorbed by insurance companies who know how to manage risk and money. In my opinion it is too late with too many mistakes to try and save this terminally ill company. I hope our government is merciful and pulls the plug, because all of their vital signs are gone. They are simply existing and they are not coming back to life.

  • February 25, 2009 at 12:05 pm
    Sal Maroni says:
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    From one professional to another…if your looking to scare someone, pick a better spot.

  • February 25, 2009 at 12:28 pm
    concerned says:
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    WHY ARE THEY RATED ANYTHING BUT junk,

  • February 25, 2009 at 12:58 pm
    Mario says:
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    AIG exec’s just sell off the the units for whatever price you can get. Holding out is not an option for you at this point. I want to get paid back for the loans you took from the taxpayers. AIG will be a memory very shortly.

    Take Care

  • February 25, 2009 at 2:01 am
    An agent from Arizona says:
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    The day AIG decided to get the government involved they lost their option to be in charge. The government owns a large share of AIG. More and more agents are finding themselves competing with the government. We already compete with the State Fund for marketing workers compensation in Arizona, we are now competing as agents with the worlds largest insurance company owned by the government.How do you feel as agents in the private sector feel about competing with the governemt for insurance products?

  • February 26, 2009 at 2:15 am
    MS says:
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    how about an $11 blln sale?

  • February 25, 2009 at 2:39 am
    Govt. Pimp says:
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    I find it ridiculous that AIG has any say at all in when/who they sell these assets to. What ever happened to beggers can’t be choosers?

  • February 25, 2009 at 2:54 am
    Peon Agent says:
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    Look back …I told you we weren’t finished pouring money down this black hole. The argument is going to be, we already sunk $150 billion, if another $60 billion will make it work, then we need to do it. And, guess what, that same story will be repeated yet again if and when they do.

    This has been, and continues to be pure insanity. I realize that’s par for the course now that the “have nots” have figured out how to vote themselves some money. There is nobody in their right mind that believes the government is going to say, “Oops, we made a mistake in September”. There is no way they are not going to loan this next round of requested ridiculousness. Our legislators are currently drunk on printed money and delirious with the notion they need to FIX a system they can’t. So, get ready, more money is on its way and the folks at AIG know it as sure as they know where the keys are to their German-made Benz’s. And, they know the next request will be honored just as assuredly. So the taxpayers, like the crab in the slowly boiling water, will just sit back and hope for the best.

    I have no business axe to grind with AIG. I do have a core belief that the government should not be involved in things that weren’t established by the constitution. If you want to look at other societies where the State owned industry and business, look no further than the great Soviet Union.

    Where did that end? In a big bank at Chernobyl, which led to the fall of their system – a system that too many people in our country would seemingly embrace? Guess what? All the government oversight that a over regulated/owned system could muster, didn’t prevent disasters either. But, people of that ilk don’t care about the facts, instead, they’ve just intensified the calling on our government to oversee and overbear even more. And, if they can’t regulate it enough, just own it instead.

    Great plan!

    Here’s a fact. People are fallible no matter if they work for the Government or the Private Sector. The difference is, under one system the people have Freedom, under the other, they suffer in servitude. I’ll take imperfect Freedom any time.

    AIG needs to be allowed to fail if they cannot compete. They have proven to be weak, and now must live or die with their consequences. Stop using my tax money to prop up the stooges in life. Our system will survive their crash. Other companies will pick up the slack that’s left.

    This notion that they are going to trade more worthless assets to the government in exchange for $60 Billion …bunk! Dream on dreamers! To those of you that thought you had this all thought through so well, you folks with worthless diplomas and monograms on your cuffs to make you feel important, what are your great thoughts today. Those of you that vociferously argued that the government was getting such a great deal because “we” now had “ownership” in the AIG, how do you feel now?

    I’ll tell you how you are going to feel very soon – just like those Enron employees that invested all of their 401K’s back into the company. They felt like kings when the stock was peaked, but it didn’t take long to realize they were actually paupers in the end.

    When will the madness stop?

  • February 25, 2009 at 3:05 am
    Col. Kurtz says:
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    I could not agree more. WE are presently watching the entire financial system struggle. If we let the weak fail and the stong prosper in their wake a few lose and many benefit. Spreading the failure out to everyone does not seem right.

  • February 25, 2009 at 3:56 am
    Just Vomited...Again says:
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    AIG’s way of doing biz is as follows…

    1. Treat employees like garbage and watch productivity go down the tubes because of turnover
    2. Watch business strategy and implementation fail, but continue to tell everyone you are the best
    3. When it finally becomes common knowledge that you suck far more than your competitors, continue to tell your clients that you are better and that they should bind coverage with you because you deserve it

    Is it any wonder they are asking for more bailout money or that they think they can take their sweet time deciding who gets to buy what during a time they should be begging for buyers? But they DESERVE more bailout money. And they shouldn’t have to beg for buyers because they are just THE BEST.

  • February 25, 2009 at 3:59 am
    just one thing to add.... says:
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    …you forgot to add…..

    -after each subsequent bailout, they slash their prices even more to maintain market share.

    -they also call their insureds begging them “please what do we have to do to keep your business”

  • February 25, 2009 at 3:59 am
    Peon Agent says:
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    Oh yeah, I missed some of my cut and paste. I meant to finish with:

    When AIG finally bankrupts out, about $250 Billion later I’m guessing, the worthless paper is going to do our children and grandchildren wonders while we’re rotting away in government owned old-age greenhouses waiting for our body parts to be divided out to the next group of failures.

    Feeling great yet?

  • February 26, 2009 at 1:26 am
    ER says:
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    I agree with Agent from AZ. There are plenty of hungry insurance comapnies that would gladly take AIG’s insureds mid-term. Wish we could take all of AIG’s assets, reserves, etc, return premium to all policy holders and then they can go and purchase insurance elsewehere. I know that probably sounds idealistic, but I’m a dreamer….And if the governemnt owns AIG, why can’t they do something other than just sit there and let AIG continue to call all the shots?



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