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Consumer Corner: Foreclosure settlement no magic bullet for economy
NEW YORK, May 16 (UPI) -- New York's big insurance company, American International Group Inc., plans to force out several top executives in coming weeks.
As many as six top managers could leave AIG in the next two weeks as regulators and prosecutors continue their investigations into possible accounting irregularities at the global insurance group, the Wall Street Journal said Monday.
Already, AIG has lost Maurice "Hank" Greenberg, who departed in March as chief executive officer, and Howard Smith, the former chief financial officer.
Cleaning out "mahogany row" is seen is seen as one way to air any remaining dirty laundry by AIG's self-imposed May 31 deadline for filing its thrice-delayed annual report with the Securities and Exchange Commission.
The current chief executive and chief financial officer have not been implicated in wrongdoing and won't be leaving the company, the newspaper said.
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SYDNEY, Feb. 13 (UPI) --
Researchers in Australia are developing a solar roof system that uses wasted energy to warm air and water.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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