Insurer AIG posts second consecutive profit
Filed under: Company News, Earnings, American International Group, INC.
AIG (AIG) says it was profitable for the second straight quarter as its core insurance operations continue to stabilize after being bailed out by the government last year.But investors' initial reaction to the report is negative, as AIG shares are down about 6 percent in premarket trading.
The insurance giant on Friday said its profit available to common shareholders totaled $92 million, or 68 cents per share. AIG lost $24.47 billion, or $181.02 per share, during the year-ago quarter when it was rescued from near collapse by the government.
AIG was bailed out by the government in September 2008 at the peak of the credit crisis. It has since received aid packages with a total value of more than $182 billion.
It has been working for the past year to sell assets and streamline operations to repay that debt.
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Reader Comments (Page 1 of 1)
11-06-2009 @ 9:44AM
Jerry said...
What BS, How much do they owe in Credit Default Swaps
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11-06-2009 @ 10:55AM
Kate said...
AIG was (is) one of Obama's biggest financial supporters when he ran for Senator and President. The top members of Obama's team working on health care are also the beneficiaries of millions of dollars from insurance companies in the form of kick backs or political donations. Our government is still the best there is... but it's corrupted by greed and it's bought and paid for by the highest bidder. We need to shorten the terms of Senators and Congressmen, so that new "public service" individuals take the helm every couple of years and kick the old dogs to the curb. Those old dogs that have been come fat by passing bills for corporations that stuff their check books. Anyone else think we should ban lobbyist?
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11-06-2009 @ 12:10PM
Bill said...
I agree with you on shorter terms for congress. In my opinion they should only be two years. If that person is any good they will be re-elected. If not they are out of there. States should enact laws that if a representive run on a party ticket then they should remain on that party. If not then they should be forced to resign and a same party representive be pick to fufill the seat. As for lobbiest they do not belong in congress but you and I know they would just change their names like ACORN has and get away with it. Congress has lost touch with what their jobs are. They have become power hungry idiots. They have no regards to the United States Constitution and what it stands for. There needs to be a day of reckoning in November of 2010. The people need to be heard once again. Not to be called astro-tuff traitors by congress when they voice their opinion. One other thing that really irritates me is the arrogant attitude of these elected officials. They work for us, we pay their wages, or I should say overpay their wages. When is the government going to put a cap on their wages? They robbed from our seniors, but still gave themselves a raise. This is a mockery and a insult to the American tax-payers. Government is the most nonproductive institution in our country and it needs to be decreased in size and power.
11-06-2009 @ 12:24PM
the man with a plan said...
how can their be a profit when it says they lost big and now wants 15 billion more from the tax payers , i hope they go under and obama needs to give me back all my taxes i paid in my life time i dont want a single penny of my taxes going to thease bastereds . what would they do if all americans stop paying taxes on things and not file . i wander if they would lock up millions of people how or ware would they put us all,,,,
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11-06-2009 @ 1:55PM
dang1067 said...
Funny how OAL headlines keeps being inconsistent... Yesterday, AOL posted a headline of $19-Billion AIG loss and asking the FED for another $15-Billion, and now a day after here we have AIG posting profits???? Does that make any sense????
This is just one subject of how the news media waves are OUT-OF-Whack!!! Spreading concocted waves of propagandas for to persuades the IDIOTS!!! Much like those CON-ARTISTS who used to sell snake oils!!!
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