"AIG is in crisis,"

uscitizen

uscitizen

Villified User
Former CEO asks AIG to postpone annual meeting

Monday May 12, 7:29 PM EDT

NEW YORK (AP) — Maurice R. Greenberg, the former chief executive and largest individual shareholder of AIG, is urging the insurer to postpone its annual meeting in the wake of its massive first-quarter loss, according to regulatory filing Monday.

American International Group Inc., the world's largest insurance company, said Friday it lost $7.81 billion, or $3.09 per share, in the first quarter. AIG also announced plans to raise $12.5 billion in the coming months to shore up its capital base.

In a letter to the board dated Sunday, Greenberg said he and other top shareholders are deeply concerned "about the persistent and seemingly endless destruction of value at AIG." He said the company's leadership has also lost credibility with the investment community.

"AIG is in crisis," Greenberg wrote.

"The company's problems are more than financial and extend far beyond its subprime credit exposure or approach to capital management," he said in the letter. "Core businesses are also deteriorating."

Greenberg said New York-based AIG has not explained why it chose to raise $12.5 billion in the capital markets rather than pursuing other options, such as divesting noncore assets or seeking other sources of funding.

http://finance.myway.com/jsp/nw/nwdt_rt.jsp?section=news&feed=ap&src=601&news_id=ap-d90kd7c80&date=20080512
 
AIG sponsor the English Premier League team Manchester Uniteds.

I realise that it would probably be extremely petty and small minded of me to wish a cuddly global corporation, such as this, to crash and burn in a spectacular fireball fuelled with pure football-based animosity.

However, as i am extremely petty and small minded, could i enquire as to whether anyone would be so kind as to lend me a match?
 
Diuretic said:
They're all French, who cares :(
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French, eh?

Someone must have taken you up the Arse, so to speak. ;)

Still, some of us are still fighting it out for promotion by hammering Dirty Leeds Uniteds 2-1 at Elland Road, this Monday gone, and looking forward to walloping* them again on Thursday.
 
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I am nervous because they are stonewalling any claims. They are refusing to pay even the best of claims. I am setting all of there cases for trial. I hope to get a resolution before they go bankrupt.
 
having worked in two separate insurance companies and with pretty good knowledge of how they operate. (did activity based costing in both)... I can only venture to guess the treasurers were investing the residuals and premiums into things they should not have been aka sub prime finance and other risky investments and then got burnt when the claims came due.
 
Chapdog said:
having worked in two separate insurance companies and with pretty good knowledge of how they operate. (did activity based costing in both)... I can only venture to guess the treasurers were investing the residuals and premiums into things they should not have been aka sub prime finance and other risky investments and then got burnt when the claims came due.
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They will scream tort reform!
 
Damocles said:
Why would you do that? The French can't get their timing right. At least they aren't floppers like the Italians...
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I'm disillusioned. My great uncle played for my team years ago (the first time they wore baggy shorts) and now they moved the frigging stadium, they have half of France playing for them and they couldn't beat Manure Ltd or Chelski. I'm no fairweather friend, I used to go up there when the Doc played for them (many years ago) and they were getting their arses kicked even by the Witches but I have to admit to being a bit disappointed.
 
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charver said:
French, eh?

Someone must have taken you up the Arse, so to speak. ;)

Still, some of us are still fighting it out for promotion by hammering Dirty Leeds Uniteds 2-1 at Elland Road, this Monday gone, and looking forward to walloping* them again on Thursday.
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And not a bit of Vaseline either, bastards.

When I was a little kid I used to play on the original ground, used the original change rooms (they still had gas lighting, we used to eff around with it when we'd finished showering, little bastards we were) and had a family affiliation.

Carlisle Utd? Good effort doing Leeds over. Good to see a bit of a change in things. I was reading the other day someone was saying the Premier League is down to four clubs and the others. That's a shame.
 
We'll get a Semi-final game here in Denver if the US beats out one of their earlier opponents that they are expected to beat. I can't remember who at the moment. I'll be going to see the US play if I can.
 
Diuretic said:
And not a bit of Vaseline either, bastards.

When I was a little kid I used to play on the original ground, used the original change rooms (they still had gas lighting, we used to eff around with it when we'd finished showering, little bastards we were) and had a family affiliation.

Carlisle Utd? Good effort doing Leeds over. Good to see a bit of a change in things. I was reading the other day someone was saying the Premier League is down to four clubs and the others. That's a shame.
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With Carlisle spending most of their time in the lower leagues, in recent years, i never had the chance to visit Highbury but it was a proper ground with proper history. Nowadays most of the new stadia/stadiums (whatever the hell you're supposed to call more than one of them) are soulless affairs; all corporate boxes and Mechano, named after the highest paying multinational sponsor.

Whatever happened to football grounds being named after the road they were on? Emirates Stadium, indeed. I think they are in the process of turning Highbury into luxury flats now. It's a terrible shame.

Sadly, the Premier League is just a procession of the "Big 4", with Spurs, Everton and Villa fighting it out for the leftovers. With the same 4 qualifying for the Champions League every year that gap is getting bigger and bigger. Still, some new faces, either Hull City or Bristol City, are going to be there next season after reaching the play-off final.

Hopefully Carlisle will be back in the second tier, for the first time since 1985, if we hold on against dirty Leeds tonight, and win one last match at Wembley.
 
charver said:
With Carlisle spending most of their time in the lower leagues, in recent years, i never had the chance to visit Highbury but it was a proper ground with proper history. Nowadays most of the new stadia/stadiums (whatever the hell you're supposed to call more than one of them) are soulless affairs; all corporate boxes and Mechano, named after the highest paying multinational sponsor.

Whatever happened to football grounds being named after the road they were on? Emirates Stadium, indeed. I think they are in the process of turning Highbury into luxury flats now. It's a terrible shame.

Sadly, the Premier League is just a procession of the "Big 4", with Spurs, Everton and Villa fighting it out for the leftovers. With the same 4 qualifying for the Champions League every year that gap is getting bigger and bigger. Still, some new faces, either Hull City or Bristol City, are going to be there next season after reaching the play-off final.

Hopefully Carlisle will be back in the second tier, for the first time since 1985, if we hold on against dirty Leeds tonight, and win one last match at Wembley.
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Yep, I could just about bloody weep. I remember as a kid watching a doco about Sir Stanley Matthews. The scene that comes vividly to mind was him going to a game. Yes, the bus pulled up and Sir Stanley jumped off with his boots in his hands.

If I couldn't afford to get to Highbury I'd go down to the Valley and watch Charlton (short bus ride), but the passion was the same as at Highbury and Charlton were in the Second Division back then (this was when there were on the First to Fourth). I don't know if they've done it up but I suppose they have.

Best of luck to Carlisle, good to see a change.
 
Damocles said:
We'll get a Semi-final game here in Denver if the US beats out one of their earlier opponents that they are expected to beat. I can't remember who at the moment. I'll be going to see the US play if I can.
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Is that a World Cup fixture Damo? I'm not sure how it works there I'm afraid.
 
I tried to figure out who the US was playing and i have to say it seems very complicated, or at least every website makes it look that way. I think it's either Saint Lucia or Guatemala.

Damo, have i read this right that the game in Colorado is to be played at the fantastically named - "Dick's Sporting Goods Park"?

Oh, and Carlisle's promotion charge went tits up last night (lost 3-2 on aggregate) :(

But we would have come straight back down and, besides, the prices would have gone up anyway so i'm not too suicidal today :D
 
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charver said:
I tried to figure out who the US was playing and i have to say it seems very complicated, or at least every website makes it look that way. I think it's either Saint Lucia or Guatemala.

Damo, have i read this right that the game in Colorado is to be played at the fantastically named - "Dick's Sporting Goods Park"?

Oh, and Carlisle's promotion charge went tits up last night (lost 3-2 on aggregate) :(

But we would have come straight back down and, besides, the prices would have gone up anyway so i'm not too suicidal today :D
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I do know that they are fully expected to beat whomever they are. I still can't fricking remember and it's starting to drive me a bit loony.

Yes, Dick's Sporting Goods went and bought the name for the Stadium, at least it is comical.
 
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