After all the bad decisions made by the leadership - if you can even call them that - the company is still standing. I sometimes wonder if it's true that some businesses have grown enough they're too big to fail. No matter what happens, the company stays afloat. I'm not advocating for AIG to go under, that would mean losing my job. I'm just shocked that this incompetent leadership hasn't managed to find a way to destroy us completely, despite trying really hard.
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No , AIG will not be saved, imagine only banks would be saved by government in this economy
Kudos to the poster making the AIG/Sears analogy. For our grandparents/parents, Sears WAS Amazon and look where Lampert took it. AIG? Who knows?
Excellent analogy. I was there until about 3 years ago and started under Greenberg.
A once great company will follow another. Sad.
Retail is a much less complicated business than the financial industry so not apples to apples but consider the story of Sears. An iconic brand that was bigger than Amazon until the early 2000's. It has taken 20 plus years to get to the point where the doors will be closing for good.
In 2017 Sears sold their signature money making brand Craftsman. Five years later they are on the verge of closing for good.
L&R is the AIG version of Craftsman. L&R is AIG's money making signature business and it is being sold. Eddie Lampert, hedge fund billionaire, rode Sears to the very end. He layed off thousands of employees, sold Sears real estate holdings and gutted the company. The whole way he insisted that Sears would return better and stronger than ever. That didn't happen at Sears and it wont happen at AIG. PZ and crew are riding the money train to liquidation. AIG has been downsizing since the bailout. It is down to it's signature brands now and there is no stopping in sight.
You can believe the hype about making AIG the world leader in insurance if it makes you feel better, but history paints a better picture of what is in store for AIG.
Not too big to fail, but big enough for PZ and crew to loot the company for tens of millions each on their way out…
AIG is no longer too big to fail. It is failing slowly. The company is winding down. It will be sold or run off piece by piece in the coming years. It is a slow painful process for those who stay, but that is your decision.