Items Tagged with 'Edward Liddy'

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  • AIG Reports $1.8bn Profit for Q209

    American International Group (AIG) [stock AIG][/stock] earned its first quarterly profit since the third quarter of 2007, after a year and a half of posting losses. The insurance giant gathered $1.8bn in net income or $2.30 per diluted common share for Q209. The earnings come after a $5.4bn net loss in the second quarter of 2008, according to a corporate release.
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  • Further Commotion at AIG

    American International Group [stock AIG][/stock] Chairman and CEO Edward Liddy said Thursday he will leave his position as head of the firm once the board of directors is able to locate the appropriate replacements. The roles of CEO and chairman are likely to be split going forward, the company says. Liddy stepped into his position as CEO in September, at the request of previous Treasury Secretary Henry Paulson, when the company turned over a majority of its stake in exchange for a federal bailout.
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  • House Moves on Bonus Limits for TARP Recipients

    The House Committee on Financial Services announced Thursday it had passed H.R. 1664, the pay-for-performance bill that would prohibit certain compensation payments by firms that have received capital investments by the government through the Troubled Asset Relief Program. The bill would prohibit "unreasonable or excessive" compensation as well as "non-performance based bonuses."
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