The article is misleading. The $60B 5 year loan is a revision of the previous facility. The only money added was the previously mentioned $40B purchase of preferred stock. As of today, the only amount of money owed to the Feds is $21B plus the buy back of the $40B in stock if they so choose. The ex-CEO has an ax to grind. He got caught cooking the books and was booted out on his ass. He's trying to form a rival company and he needs AIG to go down. He's a bitter old man.
Exactly. But it should be remembered that large seminars require large hotels with big meeting rooms, preferably near an airport. Not every Holiday Inn will do. Large hotels tend to be plush hotels. Plus, while AIG may have had to severely curtail their former freewheeling corporate style, the people that they do business with don't have to do so at all. SF may be biased, but it's his hide that could be nailed up on the barn. He knows how AIG works a hell of a lot better than the rest of us. I take some of it with a grain of salt . . . but I take it. Tastes better with salt anyway.
Spot on, Red. I agree that perception is reality and AIG is extremely sensitive about appearances right now. Many, many meetings have been cancelled, some (IMO) to the detriment of the bottom line. But, it is exactly because of shills like Brian Ross that we must play the game. Also, gullible fools like Rex are eager to pounce on any little rumor and run it up the flagpole, truth be damned. AIG is doing a very good job of keeping it's employees informed and I am privy to a lot of information that cannot be disseminated. I am not trying to paint a pretty picture just because I work for them, but I will try to correct distortions.
How much is your salary? Maybe they can give that amount of the bailout money back and let you go. All you do is play around on the internet anyway. :hihi::hihi::hihi:
The guy has a broadband card on his laptop and can surf while running through airports. I'm getting one when I grow up . . .
Sabanfan, im getting alot of conflicting reports on AIG, the media has it in for you guys. Because I was listening to NPR yesterday and they usually dont have a bias. However, they say that AIG is constantly bleeding money as a result from the CDSs they bought. Thats why they needed a new loan from the govt. Although I know its not a loan, the govt bought preferred shares with the new money.
Last night Cramer responded to a question about buying AIG now when it is cheap. He really hem-hawed and was trying to be careful what he said but admitted that he thought the CEO didn't have his hands around the problems yet. But he didn't really advise anyone to run away . . . I get the feeling he thinks AIG will go back up but he's watching how the management of the company goes and he's skeptical of its current leadership.
Gullible. You are the one drinking the AIG KoolAid. Your socialist views for your socialist company.. If AIG is that great and never does wrong lets just take our money back since they don't apparently need it
