{"id":418247,"date":"2011-05-05T22:00:34","date_gmt":"2011-05-05T22:00:34","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/05\/aig-slips-back-into-the-red\/"},"modified":"2011-05-05T22:00:34","modified_gmt":"2011-05-05T22:00:34","slug":"aig-slips-back-into-the-red","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/05\/aig-slips-back-into-the-red\/","title":{"rendered":"AIG slips back into the red"},"content":{"rendered":"
\n

\"chart_ws_stock_americaninternationalgroupinc.top.png\"<\/a>Click chart to track AIG shares.<\/strong><\/span> By Charles Riley, staff reporter<\/span>May 5, 2011: 5:49 PM ET<\/span><\/p>\n

NEW YORK (CNNMoney) — AIG reported a first quarter loss Thursday, moving the insurer back into the red after the bailout recipient showed signs of life with a strong final quarter to close out 2010.<\/p>\n

AIG reported a loss from continuing operations of $1.41 per share for the first three months of the year, compared to a profit of $2.16 per share over the same period a year ago.<\/p>\n

For U.S. taxpayers, the loss is bad news. Here’s why: The Treasury Department owns a 92% stake in AIG (AIG<\/a>, Fortune 500<\/a>), the result of a 2008 bailout of the too big to fail insurer.<\/p>\n

In 2008, the giant insurer struggled under the weight of credit default swaps issued by its Financial Products division before ending up on the receiving end of a $180 billion lifeline extended by the Feds.<\/p>\n

AIG has returned a large chunk of that to the Treasury, raising money through asset sales. But Treasury still has $47.5 billion in cash invested in AIG through the insurer’s common stock.<\/p>\n

Due to a plunging stock price that has lost 46% of its value since the start of the year, that taxpayer investment is in danger of slipping into the red.<\/p>\n

The breakeven stock price for that investment is around $29, just a few dollars below where the stock has been trading in recent weeks. \u00a0\"To<\/a><\/p>\n<\/div>\n

Read the original here:
\nAIG slips back into the red<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Click chart to track AIG shares. By Charles Riley, staff reporter May 5, 2011: 5:49 PM ET NEW YORK (CNNMoney) — AIG reported a first quarter loss Thursday, moving the insurer back into the red after the bailout recipient showed signs of life with a strong final quarter to close out 2010. AIG reported a loss from continuing operations of $1.41 per share for the first three months of the year, compared to a profit of $2.16 per share over the same period a year ago<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-418247","post","type-post","status-publish","format-standard"],"yoast_head":"\nAIG slips back into the red - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/05\/05\/aig-slips-back-into-the-red\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"AIG slips back into the red - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Click chart to track AIG shares. 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