AIG's Tough Road Back
By Andrew Bary
Word Count: 552 Companies Featured in This Article: American International Group
WALL STREET IS LOSING PATIENCE with insurance giant American International Group and its CEO, Martin Sullivan.
AIG's surprisingly large first-quarter loss, reported Thursday, jolted its stock (ticker: AIG), which fell $3.87, to $40.28 a share, in heavy trading Friday, renewing speculation Sullivan may be booted. In 2005, the mild-mannered Englishman replaced the brilliant, imperious Hank Greenberg, who'd been forced out by an accounting scandal.
AIG, which is near a 10-year low of $38 set in March, might not slip much more because its earnings power in 2009 probably is at least $5.00 a share. But Citigroup analyst Joshua Shanker, who ...
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