Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Business News

AIG Chief Executive Edward M. Liddy Admits 'Mistakes,' Touts Progress

Mar. 18, 2009
The chief executive of insurance giant American International Group told Congress today that he shares the anger of taxpayers at the company and finds "distasteful" the millions of dollars in bonuses that have been paid to the firm's executives despite massive losses that prompted a...
Related Stories from UPI.com
Liddy says he asked for return of bonuses

Liddy says he asked for return of bonuses

WASHINGTON, March 18 (UPI) -- AIG executives and employees have been asked to return at least half of bonuses they received, the insurance giant's chief told a U.S. House panel Wednesday.
Summers: AIG exec bonuses 'outrageous'

Summers: AIG exec bonuses 'outrageous'

WASHINGTON, March 15 (UPI) -- Millions of dollars in bonus payments to top executives of bailed-out U.S. insurance giant AIG are "outrageous," an Obama administration official says.

AIG giving millions in bonuses

WASHINGTON, March 14 (UPI) -- American International Group Inc., which has received $170 billion in U.S. aid, is handing out millions in bonuses, The Washington Post reported Saturday.
AIG losses record $62 billion in quarter

AIG losses record $62 billion in quarter

WASHINGTON, March 2 (UPI) -- U.S. insurance giant AIG said it lost $61.65 billion in the fourth quarter, a sharp about-face from fourth quarter 2007, when the company gained $5.2 billion.

AIG curbs executive pay

NEW YORK, Nov. 25 (UPI) -- Federally supported U.S. insurance giant American International Group said it had taken steps to curb executive pay through 2009.
AIG, Cuomo meet over company expenses

AIG, Cuomo meet over company expenses

ALBANY, N.Y., Oct. 16 (UPI) -- New York Attorney General Andrew Cuomo and the new chairman of American International Group Inc. met Thursday to discuss the company's expenses.
Federal loan prompts AIG sale

Federal loan prompts AIG sale

NEW YORK, Oct. 3 (UPI) -- Insurance giant American International Group said Friday much of the business was for sale in order to pay off a huge debt to the U.S. government.

Group assembled to sell AIG's assets

NEW YORK, Sept. 18 (UPI) -- New York and Pennsylvania insurance regulators will work with American International Group Inc. to unload the firm's insurance assets, officials said.

Former AIG head resigns from board

NEW YORK, June 9 (UPI) -- Maurice R. "Hank" Greenberg, the long-time head of insurance giant American International Group Inc., has resigned from the New York company's board.

AIG officials facing possible indictments

NEW YORK, May 20 (UPI) -- New York state prosecutors presented evidence Friday to a grand jury investigating possible criminal conduct by leaders of American International Group Inc.
1 of 23
Vietnam Veterans Memorial Commemorated in Washington
View Caption
A U.S. Air Force B-52 flies over the Vietnam Veterans Memorial during commemoration of 50th anniversary of the war on May 28, 2012 in Washington, DC. President Barack Obama is at the base of the wall left center. More than 58,000 names of the servicemen who were killed or missing in the war are engraved on The Wall. The B-52 bomber was used extensively during the Vietnam War. UPI/Pat Benic