AIG (AIG) plans to sell its auto insurance unit, annuity operations, and aircraft leasing division. It sounds a lot like Lehman’s (LEH) plan to spin-off its commercial real estate pool and sell…
Covering financial stocks this morning looks a bit like an assassination happening live on television. Futures are being pulled sharply lower by the financial stocks melting down. We are going to skip…
AIG (AIG) may lose over $20 billion for the trailing four quarters ending with the current period. It says the unprecedented credit crisis bought on by the failure of Lehman (LEH) requires…
Douglas A. McIntyre According to Reuters, Lehman (LEH) will seek Chapter 11 protection. Reuters reports that Bank of America (BAC) will buy Merrill Lynch (MER) for $50 billion. Reuters reports that AIG (AIG) is facing…
AIG (AIG) is seeking a short-term loan from the Fed in the amount of $40 billion. The Insurance firms says it will pay that back shortly from asset sales. In the current…
Douglas A. McIntyre AIG (AIG) will sell several divisions to raise the capital it needs to stay independent. According to The Wall Street Journal the big insurance company "plans to disclose a comprehensive restructuring by…
Douglas A. McIntyre American International Group (AIG) Market worries that balance sheet is tearing to pieces. Down to $11.49 from 52-week high of $70.13. Lehman Brothers (LEH) Going out of business sale. Drops to $3.17…
Douglas A. McIntyre AIG (AIG) as taken its turn in the penalty box today, joining Washington Mutual (WM), Lehman (LEH), and Merrill Lynch (MER). After after three quarters of significant write-offs, AIG is down 25%…
There are hundreds of thousands of jobs at stake if the current trends continue in the financial services sector. When you tally up the employment just at five troubled firms noted below,…
According to Reuters, debt of Washington Mutual (WM) was cut to junk on a forecast of a $4.5 billion loss reserve. Reuters says that concerns about Lehman (LEH) spread to Merrill Lynch…
This morning we are seeing a massive gain on the heels of the US government seizure tied to Fannie Mae and Freddie Mac. Those shares are halted and Warren Buffett has just…
Fannie Mae (FNM) and Freddie Mac (FRE) had their CEOs pushed out by the government this weekend. They will get fat pay packages and can go on to live in massive homes…
The evidence that sales at many companies are struggling and that employment will suffer are almost everywhere. Recently, a division of GMAC said it would let 5,000 people go. According to MSNBC,…
AIG (AIG) may resort to a tactic that is as old as the hills. It is considering taking its worst assets and moving them into a new company. This would leave AIG…
Douglas A. McIntyre American International Group (AIG) Analysts predicting yet another losing quarter. Stock drops to $18.64 down from 52-week high of $70.13. Supervalu (SVU) No news. Falls to $23.60 from 52-week high of $43.30.…
Douglas A. McIntyre 