Highlights
Northbrook-based Allstate is the nation's No. 2 home and auto insurer, after Bloomington-based State Farm. It was founded in 1931 as part of Sears Roebuck & Co. Allstate became a publicly traded company in 1993. At the time, its initial public offering was the largest in U.S. history. On June 30, 1995, it became a standalone company after Sears divested its remaining shares to Sears stockholders.
Northbrook-based Allstate is the nation's No. 2 home and auto insurer, after Bloomington-based State Farm. It was founded in 1931 as part of Sears Roebuck & Co. Allstate became a publicly traded company in 1993. At the time, its initial public offering was the largest in U.S. history. On June 30, 1995, it became a standalone company after Sears divested its remaining shares to Sears stockholders.
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AIG, party on!
Here's the tab: $139,375.30 for rooms. $147, 301.71 for "banquets." $1,488 for the Vogue Salon, which features manicures, pedicures and hairstyling. $6,939.09 on golf. $2,949 for tips. $5,016.32 at the Stonehill Tavern. $3,064.71 for in-room dining and...Tags: American International Group, Federal Reserve, Personal Service, Corporate Officers, Accounting and Auditing
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Hazardous to handle
Chicago Tribune reportersWall Street's financial maelstrom is threatening some of Chicago's largest companies. They are holding billions of dollars in exotic investments at the heart of the nation's financial crisis—debt tied to housing, student, auto and credit card...Tags: Lehman Brothers Holdings Incorporated, Archer Daniels Midland Incorporated, Insurance, Securities, Pension and Welfare
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AIG to sell off business units but retain US property and casualty
AP Business WritersCHARLOTTE, N.C. (AP) _ The insurer American International Group Inc. said Friday it plans to sell off a number of business units to pay off its massive government loan. The announcement was expected by Wall Street. But it now leaves investors wondering...Tags: Lehman Brothers Holdings Incorporated, Federal Reserve, Aegon NV, Credit Ratings, Property
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Allstate testing if brain fitness games improve driving, may lower premiums
AP Technology WriterNEW YORK (AP) _ Could playing computer games enhance mental agility enough to turn people over 50 into better drivers? Allstate Corp. wants to find out, and if the answer is yes, it might offer insurance discounts to people who play the games. Under a...Tags: Game Playing, Video Games
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AIG plans sale of business units
AP Business WriterThe insurer American International Group Inc. said Friday it plans to sell off a number of business units to pay off its massive government loan, while retaining its U.S. property and casualty and foreign general insurance businesses. AIG, one of the...Tags: Lehman Brothers Holdings Incorporated, Insurance, Securities, Federal Reserve, Management Change
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Asset sales mean 'AIG of old' at end
From Chicago Tribune news servicesAmerican International Group Inc. said it will sell substantial operations around the world to repay an $85 billion government loan. But the announcement leaves investors wondering how much the New York-based insurer will be able to raise from the sales....Tags: Moody's Corporation, American International Group, Insurance, Management Change, Credit Ratings
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Former Allstate chief to take charge of AIG
CHARLOTTE, N.C. American International Group Inc. said yesterday it has named former Allstate Corp. Chief Executive Officer Edward Liddy as chairman and chief executive in the wake of the Federal Reserve's taking a controlling stake in the troubled...Tags: American International Group, Insurance, Federal Reserve, Management Change, Corporate Officers
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'Operations are solid,' CEO Liddy says
American International Group Inc.'s new leader, Edward Liddy, said the largest U.S. insurer will recover as he tries to sell assets. "My intention is not to liquidate the company," Liddy told employees Thursday. "Insurance operations are solid,...Tags: American International Group, Northbrook
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Allstate says exposure to financial sector woes 'not material'
Tribune reporterAllstate Corp. said late Tuesday that its holdings in troubled financial-sector firms including Bear Stearns, American International Group, Lehman Brothers, Fannie Mae and Freddie Mac are "not material," and represent less than 2 percent of Allstate's...Tags: Lehman Brothers Holdings Incorporated, American International Group, Freddie Mac, Prices, Fannie Mae
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AIG accepts $85B cash injection from Fed; FBI to probe company for potential fraud
AP Business WriterCHARLOTTE, N.C. (AP) _ American International Group Inc. may have agreed to take the U.S. government up on a two-year, $85 billion loan to help stave off bankruptcy, but now the nation's largest insurer faces an FBI investigation. The news sent AIG...Tags: Lehman Brothers Holdings Incorporated, Federal Bureau of Investigation, Freddie Mac, Insurance, Corporate Crime
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Liddy steps down as company director
Edward Liddy resigned from Goldman Sachs Group Inc.'s board of directors after becoming chairman and chief executive of American International Group Inc., the insurance company rescued by the U.S. government last week. Liddy, 62, is resigning after...Tags: American International Group, Insurance, Federal Reserve, Management Change, The Goldman Sachs Group Incorporated
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Takeovers of AIG, Fannie and Freddie raise business and political questions
Los Angeles Times Staff WriterUncle Sam is turning into Uncle CEO. But will the new corporate suit be a good fit? By agreeing to bail out insurance giant American International Group Inc. and mortgage lenders Fannie Mae and Freddie Mac, the federal government has put itself in the...Tags: Freddie Mac, Bears Stearns Cos., Federal Reserve, Employees, Tom Feeney
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