What are your views on AIG bailout? What will happen next? How will this impact the insurance business? _________________ I am an insuranc sales coach for almost 2 decades. I have a collection of insurance agents' sales stories. To know more, you can visit http://www.stories-connect.com or http://xoseph.wordpress.com
Should not affect insurance as AIG's insurance companies are doing just fine. It's their financial companies (mortgage) that are tanking. But obviously without the backing of the financial portion of the company, their insurance companies will suffer.
Well, it'll certainly have some impact on the global economy. It may cause more confusion amongst the investors, which will further aggrieve the financial situation.
The bailout might have saved the company for the time being, but there are several other companies which are at the verge of financial breakdown. The public $$ can't continue saving the situation until and unless some solid methods are taken towards solving the problem.
Yup, the fear of greater crisis has already started mounting. If a company like AIG can succumb to the current turmoil, then it's no longer safe for the other financial institutions as well.
The IMF has confirmed that this crisis in the global market may continue in the short run. This will also affect the world political scenario and may alter the world power equation. This is certain that it will affect the ongoing Presidential election of the country.
Keep in mind that only one or a small few of AIG's companies were affected, not the entire company. AIG states that they only need some time to sell off some assets in order to raise money to cover their losses (that is a lot of staplers).
Posted: Fri Sep 19, 2008 12:14 am Post subject: AIG EMPLOYEE
I WORK FOR AIG ON THE PROFITABLE SIDE OF THE COMPANY, INSURANCE. ONE WAY FOR AIG TO PAY BACK THE FED LOAN IN 2 YEARS IS TO SELL THE PROFIT MAKING PORTION OF THERE COMPANY. WE IN THE INSURANCE PORTION ARE WAITING FOR THE END OF THIS MONTH TO SEE HOW THINGS SETTLE. ANYONE LOOKING FOR AN HONEST FIELD APPRAISER? YES I SAID HONEST!
Maybe AIG should launch a new advertizing campaign....
A male age 40 COULD get $250,000 of coverage for ONLY $13,715 per year.
AIG has been smoke and mirrors for years, over a decade.
I say good riddance and may AIG be chopped up into pieces and sold to real insurance companies who actually know what they are doing.
They should be thrown in the trash heap with Executive Life, Kentucky Central, et al. _________________ Gary Spicuzza, *SAFE
Copyright 1956.
No rights reserved.
*Self Appointed Financial Expert
We believe the loan, which is backed by profitable, well-capitalized operating subsidiaries with substantial value, will protect all AIG policyholders, address rating agency concerns and give AIG the time necessary to conduct asset sales on an orderly basis.
Bye-bye!
_________________ Gary Spicuzza, *SAFE
Copyright 1956.
No rights reserved.
*Self Appointed Financial Expert
Bidwist....sorry about the situation....it's tough and very scary for those that do the actual work and had nothing at all to do with the bad decisions made at the top.....certainly hoping and praying that your job stays intact and that you don't have to go thru the stress (other than now ) of having to find another job... _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
I think this will lead to more regulation, and federal regulation of insurance carriers. _________________ Register Now to have your Insurance queries solved.
Agreed Lori, in fact everywhere the employees have very little to do with the managements decisions. I can't stop feeling sorry for what happened to the Lehman Brother's employees. They even have to stop operating the profitable units at the Asian countries.
Hope the AIG policy holders will remain safe, but its indeed very scary for the customers. The revenue generated by the profitable units will get mopped up by the loss making units.
Few wrong speculations and a big entity like AIG can even go for a toss. However, the Reserve Banks are coming together in supporting the drowning companies and help the economy to sustain.
Hey!!!
) of having to find another job...
