Thread regarding AIG (American Intl Group Inc.) layoffs

Carl Icahn

the farther aig travels down this path, the more I agree with carl Icahn when he said:

Despite years of dismantling and selling non-core assets, AIG is still too large. The combination of life insurance and p&c insurance into a single entity offers no net benefit to shareholders (proven by industry low ROE), a fact that has driven other major multiline insurers to aggressively focus on a single line of business. We believe you must acknowledge that the current multiline strategy is not generating competitive returns. Separate monoline companies will be more focused, more efficient, generate better returns and, as a result, command significantly higher market valuations.

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Post ID: @OP+131p8XYZ

6 replies (most recent on top)

Agree with Post ID: @131p8XYZ-1ryr. Not only is there lack of transparency but they hand off their roles and responsibilities to a firm like McKinsey to come up with plans to run the company.

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Post ID: @8rib+131p8XYZ

Of course Icahn was right all along. Happy for the guy getting his money and getting out. Multi-likne mega-structure allows for a lot more shell games with earnings and a nice cash float to keep handing out big salaries and parachutes to the Sr. Execs. If you can get a C-Suite gig, this is a great place to be. Expectations are low, no one knows who you are and you have absolutely zero transparency about any lives or plans you’re making.

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Post ID: @1ryr+131p8XYZ

I'm just waiting to get RIF'd. I'm sure it will happen by 2nd qtr. I will never look back at this company.

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Post ID: @tdh+131p8XYZ

Icahn got out two years ago now. He saw BD on his way on and got out.
Hindsight says we should have too.

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Post ID: @eoe+131p8XYZ

Agree, sell General Insurance and Blackboard, invest in Life and Retirement and investments. Stock would probably double in a few years

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Post ID: @fwg+131p8XYZ

I think he was right. He got out while the getting out was good.

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Post ID: @zsp+131p8XYZ

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