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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: AIG

AIG stories: 200 news summaries

1 - 20 of 200 Stories | 1 2 3 4 5 ... 10 Next >>

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 Pay Czar Cuts 
 Bonuses, But 
 Boosts Salaries 

Feinberg beefs up base base to help firms retain talent

Oct 28, 09 1:24 AM CDT
(Newser) - Base pay will increase for the majority of top execs in the finance and auto firms supervised by federal pay czar Kenneth Feinberg. Salaries are being bumped up—by hundreds of thousands of dollars in some cases—as bonuses and other perks are slashed. Despite the salary hikes, all 136... More »

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Chrysler • Citigroup • executive compensation • Bank of America • General Motors • AIG • bonuses • executive bonuses • Kenneth Feinberg • pay czar

 Ousted AIG CEO 
 Builds AIG 2— 
 With AIG Talent 

Greenberg's new insurer poaches AIG employees at taxpayers' expense

Oct 27, 09 7:47 AM CDT
(Newser) - Hank Greenberg built AIG into a $1 trillion behemoth that needed the biggest bailout in history—but quietly, the former CEO has begun a new insurance company, CV Starr, that is poaching some of AIG's leading talent. He just got an unintended assist from the Treasury: Tough new pay rules... More »

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Iraq • executive compensation • insurance • AIG • Hank Greenberg • bailout • financial crisis

AIG Chief: Pay Czar's Authority 'Limited'

He tells employees they won't lose
salaries retroactively

Oct 22, 09 2:00 PM CDT
(Newser) - Ken Feinberg won’t take your money, AIG’s chief executive told his employees yesterday. Hours after reports broke that the pay czar would be targeting the troubled insurance firm with salary caps, CEO Robert Benmosche sent a memo reassuring employees that “the Special Master's jurisdiction is quite limited,... More »

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insurance • AIG • bonuses • Kenneth Feinberg • pay czar

 50% Pay Cuts 
 for Bailout Execs 
 Due Today 

Warren confirms cuts to 25 top earners at 7 companies

Oct 22, 09 9:40 AM CDT
(AP) - The Treasury Department today is expected to order seven companies that have not paid back last year's US government bailouts to halve their top executives' average compensation. The cuts apply to the 25 highest-paid executives at banks and other companies that received the most assistance, with salaries being slashed by... More »

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Chrysler • executive compensation • Bank of America • General Motors • Citibank • AIG • Treasury Department • Obama administration • Wall Street bailout • TARP • Elizabeth Warren • Kenneth Feinberg

Pay Czar Slashes Top Salaries at 7 Bailed-Out Firms

175 top earners will see pay cuts averaging 50%

Oct 21, 09 3:53 PM CDT
(Newser) - President Obama’s pay czar will cut compensation for the 25 highest-paid employees at seven companies that took large amounts of government aid. The 175 executives will face salary reductions of 90%, but with other compensation elements added in, the total reductions average 50%. Ken Feinberg also will require the... More »

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Chrysler • Citigroup • executive compensation • Bank of America • General Motors • AIG • compensation • bailout • GMAC • Wall Street bailout • pay czar

Pay Czar Going After
AIG Bonuses—Again

But legal hurdles loom for pre-bailout deals

Oct 14, 09 8:59 AM CDT
(Newser) - Pay czar Kenneth Feinberg is making another run at AIG’s bonus payouts—or trying to, with the help of a little arm twisting. Feinberg doesn’t have authority over the$198 million in bonuses promised to employees at the infamous trading unit because the contracts were created before the bailout.... More »

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AIG • Treasury Department • bonuses • TARP • executive bonuses • Kenneth Feinberg • financial products • pay czar

Volcker: Obama Plan May Lead
to More Bailouts

Former Fed chief
faults strategy
of 'too big to fail'

Sep 24, 09 5:27 PM CDT
(AP) - A top White House economic adviser says the Obama administration's proposed overhaul of financial rules preserves the policy of "too big to fail" and could lead to future bailouts. Former Fed chief Paul Volcker told Congress that by designating some companies as critical to the broader financial system, the... More »

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Wall Street • General Motors • Paul Volcker • AIG • bailout • bank regulation • Obama administration • Wall Street bailout

 New Speculator Fave: AIG Stock 

Day-traders flock to shares on the upswing

Sep 23, 09 11:59 AM CDT
(Newser) - AIG’s stock has become the hottest commodity on Wall Street in recent weeks, the Wall Street Journal reports. It’s not that anyone believes the insurer is on the verge of paying back the $80 billion it owes Uncle Sam. Rather, the stock has become the go-to casino... More »

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stock market • AIG • speculation • traders

GLOSSIES

8 Days That Shook the Financial World

James Stewart on the week that Lehman failed, and meltdown loomed

Sep 16, 09 9:35 PM CDT
(Newser) - James Stewart’s reconstruction of the 8 nail-biting days, a year ago, in which the federal government stepped in to stop the collapse of the world financial system—published in the New Yorker this week, just as Fed chief Ben Bernanke was declaring the recession officially over—makes riveting, tense... More »

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Ben Bernanke • New Yorker magazine • Goldman Sachs • Henry Paulson • Morgan Stanley • Bear Stearns • Merrill Lynch • Lehman Brothers • AIG • financial crisis • Timothy Geithner • James Stewart

MARKETS

 Dow Climbs 64 as 
 Investors Await Jobs Report 

Fear of Sept. stock pullback drives gold to 6-month high

Sep 3, 09 3:20 PM CDT
(Newser) - Stocks jumped today on the strength of blue-chip financials after mostly idling. Volume was low as investors waited for the government’s monthly employment report, due tomorrow, the Wall Street Journal reports. AIG and Citigroup rose, while safe-haven buying pushed gold to almost to $1,000 an ounce, a level... More »

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Citigroup • Dow Jones • Nasdaq • AIG • S&P 500 • gold prices • employment report

What Bailout? AIG CEO Prefers Making Wine

Under fire for blunt talk, Benmosche pursues real passion: grapes

Sep 3, 09 9:25 AM CDT
(Newser) - New AIG chief Robert Benmosche has garnered reams of bad coverage since taking over the train-wreck insurer—and nearly a month into the job, he's still at his holiday villa in Croatia. Reuters visited Benmosche at his coastal idyll and finds his true passion to be not finance but the... More »

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Croatia • Andrew Cuomo • AIG • bailout • financial crisis • Robert Benmosche

MARKETS

 Dow Plunges 186, 
 Biggest Fall in 2 Months 

Financials lead broad selloff

Sep 1, 09 3:16 PM CDT
(Newser) - Financials led stocks in a steep sell-off today that saw the Dow’s biggest decline in 2 months, the Wall Street Journal reports. AIG fell 20.9% on an analyst’s report that without government support, it would be worth a negative $6.4 billion. Fannie Mae, Freddie Mac, Citigroup,... More »

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Dow Jones • Nasdaq • AIG • S&P 500

MARKETS

 Dow Climbs 37 
 on Day 8 of Streak 

Eight-day winning stretch is first in 28 months

Aug 27, 09 3:19 PM CDT
(Newser) - Stocks closed up today as the Dow continued its modest winning streak for an eighth day—the longest period of gains in 28 months—though trading volume remained light, the Wall Street Journal reports. An auction of 7-year Treasury notes saw decent demand. AIG shares rose 28.8% on reports... More »

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Dow Jones • Nasdaq • AIG • Hank Greenberg • S&P 500 • Treasury bills • Treasury note

 New AIG CEO's Salary: $7M 

Figure makes a mockery of government's 'populist image': blogger

Aug 18, 09 10:05 AM CDT
(Newser) - The new CEO of AIG is bringing home $7 million a year to restore the bailed-out firm to health, Bloomberg reports. Robert Benmosche will receive $3 million in cash and $4 million in common stock, a regulatory filing notes. “The cash component had to be enough to attract a... More »

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CEO • salary • AIG • bailout • Obama administration • financial crisis • recession depression • Robert Benmosche

 AIG Mystery Haunts 
 Conn. Golf Course 

After bailout, taxpayers say they deserve to putt on it

Aug 17, 09 12:10 PM CDT
(Newser) - Locals rarely see anyone playing the pristine golf course that straddles the Connecticut-New York border, and no one’s quite sure who owns it—though most think it’s linked to insurance giant AIG, the New York Times reports. The mysterious Morefar Back O’Beyond course is rumored to have... More »

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golf • Connecticut • AIG • golf course • bailout

(Newser) - Robert Benmosche has been at the head of AIG for 48 hours now, so naturally it's time for a vacation. The new CEO of the four-times-bailed-out insurer is leaving for his 8,000-square foot villa on the Adriatic for the next two weeks. "It’s probably not a propitious... More »

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executive compensation • Croatia • vacation • AIG • bailout • financial crisis • Wall Street bailout • Robert Benmosche

Obama's Pay Czar Meets With Bailed-Out Firms

Must make tricky decision on how much top execs get paid

Aug 9, 09 12:34 PM CDT
(Newser) - Kenneth Feinberg has one of the hardest jobs in America: Filling in the amount on the paychecks of top execs at the seven firms that received the biggest government bailouts, the Washington Post reports. Feinberg has the power to set the pay for the 125 most highly paid employees at... More »

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Citigroup • executive compensation • Bank of America • AIG • GMAC • performance pay • Kenneth Feinberg

ANALYSIS

 Paulson Still Dogged 
 by Ethics Queries 

Ex-Goldman exec coddled firm as Treasury sec, critics say

Aug 9, 09 11:28 AM CDT
(Newser) - As a former Goldman Sachs exec, Henry Paulson vowed to avoid any potential conflicts of interest when he was appointed President Bush’s Treasury secretary. But seven months after he left office, the nagging questions surrounding Paulson’s tumultuous term in office suggest he may not have succeeded, Gretchen Morgenson... More »

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ethics • Wall Street • Goldman Sachs • Henry Paulson • AIG • Treasury Department • Lloyd Blankfein • bailout • conflict of interest • Wall Street bailout

MARKETS

 Jobs Lift Stocks; Dow Up 114 

Unemployment report fuels rally

Aug 7, 09 3:15 PM CDT
(Newser) - Good news about the labor market fueled a rally in stocks today, the Wall Street Journal reports. Slowing declines in payrolls and a 0.1% drop in unemployment—both figures beat expectations—elevated investor sentiment. AIG jumped 22.2% after reporting a $1.8 billion quarterly profit. The Dow gained... More »

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Dow Jones • unemployment • Nasdaq • AIG • payrolls • job market • S&P 500 • job

(Newser) - The SEC today simultaneously announced a complaint against former AIG chief Hank Greenberg and the resolution of the matter—a $15 million payment to settle the suit, the New York Times reports. Greenberg and a former AIG CFO were accused of “numerous improper accounting transactions” between 2000 and... More »

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insurance companies • accounting • AIG • Hank Greenberg • settlement • Federal government • Securities and Exchange Commission

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