AIG posts
FeedPosted Jan 13th 2010 12:00PM by Tom Johansmeyer (RSS feed)
Filed under: Good news, General Motors (GM), JPMorgan Chase (JPM), Amer Intl Group (AIG), Federal Reserve

The Federal Reserve picked up a $52.1 billion profit last year, a record for the organization. The result is due largely to its 2009 bailout efforts. Of the profit generated, $46.1 billion will be handed over to the Treasury Department -- the largest profit payment made since records began back in 1914. The previous record was $34.6 billion, in 2007. Last year, the Fed turned $31.7 billion over to the Treasury Department.
According to the Associated Press, the profit didn't come from the $700 billion lent to financial institutions -- and then to auto companies like General Motors. Rather, it was the result of earnings from the securities it had in its portfolio last year. Several investment programs were launched last year to help kickstart the U.S. economy and drive down rates on mortgages and consumer debt. Through the programs, the Fed bought $300 billion in government debt, and under another, it's on a trajectory to buy $1.25 trillion in Freddie Mac and Fannie Mae mortgage securities.
Continue reading Fed Profit Tops $50 Billion
Posted Jan 8th 2010 8:20AM by David Schepp (RSS feed)
Filed under: Before the Bell, International Markets, Commodities, Oil

Stock futures on Wall Street were modestly higher ahead of a much-anticipated report on December employment, due at 8:30 a.m. Eastern time. The Dow Jones industrial average was higher by 6 points to 10,551, while the Nasdaq ticked up 2 points to 1,879.50 and the S&P 500 was up slightly to 1,137.60.
Friday's latest Employment Situation Report from the government is expected to provide further evidence that the nation's jobs picture continues to improve. A Labor Department report yesterday showed that although
initial claims for jobless benefits inched 1,000 higher to 434,000 in the latest week, continuing claims plunged 179,000 to 4.8 million to their lowest level in a year. And on Wednesday the ADP National Employment Report showed private-sector employers cut the fewest number of jobs since March 2008. Expectations are the nation lost 25,000 non-farms jobs in December, while the unemployment rate inched up to 10.2%, according to Briefing.com.
Continue reading Before the Bell: Stocks Edge Higher Ahead of December Jobs Data
Posted Jan 1st 2010 5:00PM by Connie Madon (RSS feed)
Filed under: Management, Insiders, Industry, Employees, Personal Finance, Politics, Headline News, Recession, Financial Crisis
Can you imagine this! Anastasia Kelly, chairman for legal, human resources, corporate affairs and corporate communications resigned effective December 30. She claims to be eligible for severance pay under the company's executive severance plan of $2.8 million dollars.
The employees at American International Group, Inc. (AIG) have so far been able to mix arrogance with incompetence to a new level. First off, it was their incompetence that took AIG to its knees. AIG had to be bailed out to the tune of $180 billion dollars by the U.S. government. The government owns 80% of AIG.
Continue reading AIG Employee Resigns over Pay Dispute in an Attempt to Shake Down Pay Czar Feinberg
Posted Dec 31st 2009 10:40AM by Mark Fightmaster (RSS feed)
Filed under: Management, Amer Intl Group (AIG)
Let's chalk up one of the first casualties to the salary limits imposed by the government. American International Group's (AIG) vice chairwoman for legal, human resources, corporate affairs and corporate communications, Anastasia Kelly resigned Wednesday for "good reason."
And what was that good reason? It sure seems that it's the pay restrictions levied by Kenneth R. Feinberg, the pay czar assigned by the Obama administration to monitor pay at companies that received taxpayer bailouts. At AIG, the 26th through the 100th highest-paid employees (along with the other firms) have had their cash salaries limited to $500,000.
Continue reading Pay Limits Cost AIG a 'Top Executive'
Posted Dec 23rd 2009 1:00PM by Tom Johansmeyer (RSS feed)
Filed under: Employees, Economic Data, Recession
The job market shifted in 2009 from the heaviest cuts in almost a decade to one in which signs of recovery were, though limited, struggling to be seen. It isn't turning around yet, and unemployment could still go higher, but it seems that the worst is behind us.
According to Challenger, Gray & Christmas, the job market should come around in 2010, as job creation finally pulls ahead of job losses. Increased hiring, which is expected to gain momentum next year, may take a while to move the needle on unemployment, though, since there are millions of people who have been out of work so long that they are no longer counted as unemployed for the official number that now sits at 10%.
Continue reading Job Market on the Mend, but Wait for 2011
Posted Dec 15th 2009 8:30AM by Jim Cramer (RSS feed)
Filed under: Market Matters, Citigroup Inc. (C), JPMorgan Chase (JPM), Goldman Sachs Group (GS), Amer Intl Group (AIG), Wells Fargo (WFC), Cramer on BloggingStocks, Financial Crisis
TheStreet.com's Jim Cramer says Goldman and JPMorgan are acting terribly amid all the offerings and deals.
Why do Goldman Sachs (
GS) (
Cramer's Take) and JPMorgan (
JPM) (
Cramer's Take), the good ones, go down all of the time or act terribly? I think because the equity offerings of the bad ones are just too compelling and the universe of buyers of this merchandise is severely limited.
These stocks are limited because they are not worth the headline risk trouble. If they weren't being bashed by the president or taken to the woodshed by Congress or dumped on by Meredith Whitney, the most powerful bank analyst on earth, then maybe they would be worth owning. But the more successful you are, the worse it looks. Is Goldman Sachs supposed to get into the home mortgage business? Is it supposed to write a check for $10 billion to the government as a thank you for AIG (
AIG) (
Cramer's Take)? Is JPMorgan supposed to start raising its dividend when it would be branded as a fat cat?
Continue reading Cramer on BloggingStocks: The good banks don't seem worth the risk
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