American International Group may be a shadow of its former self but for the second straight quarter it has posted a profit. AIG reported net income of $455 million. Third quarter 2009 adjusted net income was $1.9 billion, compared to …
The U.S. pay czar said Monday that he will determine “in the near future” how he will use his power to claw back pay at companies that have taken bailout money but is not currently in negotiations to do so. …
In a blow to businesses that contact drivers after car wrecks, Texas’ law enforcement and transportation agencies have agreed to drop telephone numbers from crash reports. The move is supported by the insurance industry, which says it will help prevent …
AIG, the insurer that received a huge government bail out, said on Friday it is paying $12.1 million in retention awards to some top executives after U.S. pay czar Kenneth Feinberg gave it the green light. In a regulatory filing, …
The top financial officer of insurance giant AIG defended the federal government’s $180 billion bailout of the company in a return to his alma mater. Chief financial officer David Herzog, appointed in October 2008 after several years as the company’s …
The U.S. pay czar Thursday slashed cash compensation for the top earners at seven companies that received massive taxpayer bailouts, while allowing for some increases to retain key talent. Kenneth Feinberg, charged with reworking pay contracts for the 25 highest-paid …
AIG Chief Executive Robert Benmosche has moved to assure employees that recently appointed U.S. pay czar Kenneth Feinberg will not attempt to claw back compensation. “It is important that all of you know that the Special Master’s jurisdiction is quite …
The U.S. Treasury Department is pushing American International Group to cut big pay incentives it claims were needed to keep staff, but which have stoked a controversy over pay at taxpayer-supported firms. Treasury’s “pay czar” has informed AIG management that …
American International Group is to sell its Taiwan life insurance unit for $2.15 billion, marking the largest disposal since a U.S. government bailout saved the insurer from collapse last year. The sale of Nan Shan Life on Tuesday was another …
American International Group Inc. is again hosting some of the top U.S. financial advisers and says that this time, the gathering at a California resort will cost it just $30,000. The insurer, sharply criticized for holding an executive retreat that …
