Rochester, NY 8/10/2009 9:24:43 PM
American International Group, Inc., AIG - American International Group Inc. Market Profit Yet to Recover
American International Group, Inc.
Latest updates showed that the company earned a total of $1.82 billion from April through June for its first profitable quarter since 2007. The company also release reports that it has regained value from all of its soured assets. Only its core insurance deteriorated sharply. It also further cautioned that unwinding its $1.3 trillion worth of derivatives will take a long time.
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Its big plan to pay back the government loan keeping it alive is to sell some of its businesses. But that plan has been revised "to take into account the deterioration of global market conditions," the company wrote in a filing.
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