Thursday, September 18, 2008

business as usual in AIG

i have been getting calls and messages from friends and family asking me about the current status of the company i'm working for. now, as most people know, i don't read nor watch the news as doing so just gets me depressed every single time.

however, in light of the current hullabaloos that Wall Street is going through these past couple of days and with two major banks filing for bankrupcy, i had to know the facts. i neded to know since the company i'm working for is a regional center of AIG New York.

more importantly, will i still have a job in the coming days?

in a span of 3 days, several emails and press releases have been sent. the US Federal Government, with 79.9% equity share saved our butt and gave AIG an 85 billion dollar loan; our CEO who sent an email yesterday assuring us that everything will be alright, was replaced today by a new guy from another insurance company. the media hype didn't help at all. we all got worried.

during a mini town hall meeting this morning, our bosses here explained everything and continued to reassure us that though there may be changes in the next few days/weeks/months, all is bound to get better.

so dear friends and family i still have a job. and to all policy holders and investors, it is business as usual in AIG.

for more details and press releases, you may click on the ff. links:

AIG Corporate site
AIG Recent Stock News
Fed’s $85 Billion Loan
Ex Allstate Exec to Run AIG
Edward Liddy

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