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« World Food Price Index Holds Steady At Historic Highs (CHART 1990-2011) | Main | Video: Yemeni Man Yells "Allahu Akbar" While Trying To Break Down Cockpit Door »
Wednesday
May112011

Update: What Taxpayers Need To Break Even On A.I.G.

AIG closed barely above $30 today, and 300 million shares won't be easy to place, not with current financials.  Daytrading fools kept AIG too high for too long. Institutions are balking at anything above $27, and that means a loss for Treasury, who now threatens to postpone the offering.

AIG's $9 Billion Offering Could Be Pulled - Reuters

--

Source - NYT Dealbook

The Obama administration has said the $130 billion bailout of American International Group could one day produce a profit for taxpayers.

But that could take a while, if it happens at all. On Wednesday, A.I.G. unveiled plans for a stock offering that was much smaller than once expected.

The offering, which will include the sale of 200 million shares by the government and another 100 million shares by A.I.G., would reduce the government’s stake in the insurance giant to 77 percent from 92 percent.

The government spent $47.5 billion buying up more than 1.6 billion common shares from A.I.G. to save the company from collapsing. For the Treasury Department to recoup that investment, A.I.G. must sell the 1.6 billion shares at roughly $29 a share — and that is hardly a guarantee. Still, A.I.G.’s shares did close at $30.65 on Wednesday, up $1.03 for the day.

A.I.G. Outlines Share Sale Plan

 

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Reader Comments (7)

Regulator to join Comcast after OK of NBC deal

http://finance.yahoo.com/news/Regulator-to-join-Comcast-apf-3398147638.html?x=0

it never ends...
May 11, 2011 at 11:03 PM | Registered CommenterDailyBail
SAN ANTONIO – Smile, Texas schoolchildren. You're on calorie camera.

That's the idea behind a $2 million project being unveiled Wednesday in the lunchroom of a San Antonio elementary school, where high-tech cameras installed in the cafeteria will begin photographing what foods children pile onto their trays — and later capture what they don't finish eating.

http://news.yahoo.com/s/ap/20110511/ap_on_re_us/us_calorie_camera
May 11, 2011 at 11:04 PM | Registered CommenterDailyBail
'Maybe he was looking for the bathroom': Family defends Yemeni passenger who stormed cockpit, shouting 'Allahu Akbar' as plane came in to land at San Francisco

Read more: http://www.dailymail.co.uk/news/article-1385083/Rageit-Almurisi-Family-defends-Yemeni-man-stormed-cockpit-San-Francisco-flight.html#ixzz1M6Uj3DRP
May 11, 2011 at 11:06 PM | Registered CommenterDailyBail
AIG's $9 billion offering could be pulled: sources

http://www.reuters.com/article/2011/05/12/us-aig-idUSTRE7495AL20110512
May 11, 2011 at 11:06 PM | Unregistered Commenterjohn
May 11, 2011 at 11:06 PM | Registered CommenterDailyBail
Sure, AIG may be a loser for the taxpayer, but we made $$$ on GM, right? I mean they paid back the loans early, right? I mean they posted huge profits the last few Qs, right?

I still feel good, don't you?
May 12, 2011 at 10:21 AM | Unregistered CommenterJosie

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