Thread regarding AIG (American Intl Group Inc.) layoffs

AIG earnings, bravo!

Hey, AIG only lost almost $8 billion, yes billion. That’s not really too bad. We are well positioned to move forward and should continue to invest $20 million a year in BDs salary. Lol, wtf is the board doing!

Overall, AIG swung to a second-quarter loss of $7.94 billion, or $9.15 a share, from a profit of $1.1 billion, or $1.24 a share, a year earlier. AIG completed the sale of a 76.6% stake in Fortitude on June 2, in a move that Mr. Duperreault said “de-risks our balance sheet,” by reducing the company’s exposure to long-term liabilities in products it no longer sells. This so-called runoff business exposed AIG to interest-rate risk over a large number of years, as premiums are invested and reinvested over time before liabilities come due, among other reasons for its divestiture.

On an adjusted basis, profit fell to 66 cents a share from $1.43 a share a year earlier. Analysts surveyed by FactSet expected 50 cents a share.

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| 1851 views | | 12 replies (last August 6, 2020) | Reply
Post ID: @OP+16gxU8PR

12 replies (most recent on top)

Throwing something out here and see what sticks. Any reason why PZ waited to last second before quarterly earnings to announce our footprints in downtown NYC and Jersey City? How long are the leases for? Just curious. Employees in Tri-state area take stock.

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Post ID: @3dkp+16gxU8PR

I really do feel sorry for all of the employees who,are trying to save this floating t–d of a company. Senior Mgt. has failed all of you and will most likely hire more 26, 27, and higher salary grades at millions of dollars while simultaneously rif’ing all of the worker bees by the hundreds to pay for them. BD is over and even his turn around expertise is not working. PZ’s dazzling data mind and insight has done zero. In the 3 years they have been here, the stock price has dropped in half, still losing money even though the combined is under 100, RIF’s continue every month, top line continues to fall, moral still stinks, and they continue to steal money while screwing all of the employees. Stockholders should demand the board resign, fire BD and PZ, and sell the company to competent owners.

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Post ID: @3fie+16gxU8PR

BD is totally checked out.... did you hear him on the call? lol

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Post ID: @1ohq+16gxU8PR

regarding @1kwr+16gxU8PR...…..lol, BD is done. he is just raking in the final millions before jumping ship with upwards of $100 million for his tenure and AIG has nothing to show for it. Actually less than nothing because the stock is half of what it was before BD took over. He made a 3 year promise when he took the lead that by 2020 AIG would be the world insurance leader and the combined ratio would be in the 80's. He has failed on virtually every level as a CEO.

Don't worry though, PZ will turn this around. He just needs 3 more years and $1.3 billion dollars (AIG200) to make everything all better. LOL

A lot more rifs on the horizon now that AIG is bleeding money. We have to cut expenses! But, there's always room for more executives. Party on PZ, party on!!!!

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Post ID: @1jts+16gxU8PR

To @1kwr+16gxU8PR. No, Brian has been here 3 years. And he's not a doctor but looks like a cadaver. Time for him to retire immediately, which is happening soon. He looks like he's 90 instead of 70.

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Post ID: @1qvn+16gxU8PR

I am shocked it's still operatimg. This is the worst managed company I have ever seen. They sit on important decisions, never finish any initiative before starting something new, and their solution to fixing anything is offshore or sell. It. Haven't ever seen such a reliance on consultants to tell leaders what to do, either. E&Y, McKinsey, now Accenture, AIG is a client that keeps on giving.
Yes they will keep on firing people, especially in IT. I'd be scared to death if I had any money tied up with AIG. There will be RIFs nearly every month going forward in one area or another.

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Post ID: @1buf+16gxU8PR

BD is not a doctor or can he control the mob. We should be fair and give him another 3 years to turn this puppy around.

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Post ID: @1kwr+16gxU8PR

Such great earnings I think we will have an ENCORE!!!!

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Post ID: @1mkm+16gxU8PR

$65 to $35 in 3 years! BV at ~$76. BREAK IT UP.

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Post ID: @1mxu+16gxU8PR

This executive management team is second to Enron’s team in term of corruption and mismanagement. Nice job Peter! Way to lead the way.

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Post ID: @jhy+16gxU8PR

oh great. more deferred tax assets that AIG isn't profitable enough to benefit from.

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Post ID: @zvc+16gxU8PR

I told you guys....it was time to break it up! - Carl Icahn

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Post ID: @yrm+16gxU8PR

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