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Auto Outlook: Toyota bullish on U.S. comeback
NEW YORK, June 16 (UPI) -- Insurance giant American International Group said it had fired Chief Executive Officer Martin Sullivan after a closed-door board meeting.
Sullivan is leaving after three years at the helm and will be replaced by A.I.G. Chairman Robert Willumstad, a former president and chief operating officer of Citigroup, Inc.
A.I.G. also named former Hilton Hotels executive Stephen Bollenbach, as its lead independent director, a company statement said.
Sullivan took over after former CEO Maurice Greenberg was asked to leave in the midst of an accounting scandal, The New York Times reported Monday.
Regulators and the Justice Department are again investigating the company, where the mortgage crisis has helped push stock down more than 40 percent since December, the Times reported.
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WASHINGTON, Feb. 14 (UPI) --
White House critics say raising taxes on domestic energy is bad policy, though supporters counter the U.S. budget addresses the energy sea change.
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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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President Barack Obama has revealed a budget that, once again, will give the Republican party a chance to show that vitriol is more fun than compromise.
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