The current market madness may be obscuring our vision.Investors need to remember that most large companies are doing very well.They have tons of cash on their balance sheets.There has been a remarkable resurgence in the corporate sector.AIG is a case in point.
AIG has actually turned the corner and our crisis is over,says CEO Robert Benmosche (pronounced Benmoshay).It is actually a strong,independent company.I'm looking at what is good and right in this country.
We provide guarantees for our customers,and that is going very well.Our fixed annuity sales have gone up dramatically.People are looking for more guarantees around their future.
I believe it's a very different world than 2008.People are trying to figure out what's gonna happen tomorrow.We've got to talk about what's positive.What's jeopardized is people being afraid to invest in their businesses.
You've got to add to the retirement age.These entitlement programs are for later in life;not for 20 years of life.
I think this is a great quarter for us.I don't think this is a long sort of trough.France has changed its retirement age.If that happens,the debt won't be as bad,Mr.Benmosche believes.
AIG is a multinational insurance and investment firm.Active in more than 130 countries and jurisdictions,it has 96,000 employees.The New York-based company was badly damaged by the financial crisis,and received much federal aid.
American International Group(AIG)
1 comment:
In these times it seems a fixed annuity is your safest investment.
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