AIG had a great operating quarter,said Robert Benmosche(pronounced Benmoshay),CEO of the insurance titan,with a 1.56 billion dollar profit.All of the operating units have been performing well.Thailand lost 368 million-a little above what we'd like to see,but Japan was the big problem,in the wake of payouts for the countries' 2011 natural disasters.
We see the U.S. economy as being pretty strong.Jobs and housing are doing better.We're pretty optimistic about 2012.
Our job is to build a great company.We're gonna focus on the owner who wants to hold the stock for a long time.We're working hard for our shareholders,clients and employees.
The government wants to get out of AIG as prudently and as quickly as they can.They feel they should be able to sell that stock at break even or a profit for the taxpayers.
People still need to save for their retirement.The annuities are selling reasonably well in this market.We provide the public with certain guarantees.We'll take care of that volatility.
Unfortunately,I have cancer,but I'm enjoying what I'm doing.There's no guarantee,but I'm gonna keep going until I can't.I'm feeling good.The doctors are working on some stuff,the tanned and fully bearded Robert Benmosche revealed.He agreed to lead the recovering insurance company in 2009.
Mr.Benmosche,67,had been CEO of Metropolitan Life.The married father of two,a New York native,has been treated with aggressive chemotherapy for an undisclosed type of cancer.
American International Group(AIG),Metropolitan Life(MET)
Monday, February 27, 2012
Sunday, February 26, 2012
Who Sings On The Liberty Mutual Commercial
It sounds like Cat Stevens on the Liberty Mutual "Doing The Right Thing" commercial.It isn't.The song is called "Amen,Omen."It is by the American singer songwriter Ben Harper.At a full length live performance,it was about seven minutes long,and close to six minutes long in the studio version.
Another hidden gem was uncovered for us by advertising.
"Responsibility:What's your policy?" is the compelling slogan for the Liberty Mutual commercials.Congratulations to the Boston ad agency Hill Holliday and the company for this effective corporate communications effort.It has generated thousands of positive emails from viewers.
The commercials are part of the company's "The Responsibility Project."It was conceived in 2005 when the firm made a push to become a top five insurer,instead of a top ten.According to insurance company rating firm A.M. Best,they have achieved that goal,being the third largest property casualty insurer in the U.S. as of 2010.
"The Responsibilty Project" also incudes a website with short films on the responsibilty theme as well as discussion videos and tips on property and casualty topics,along with the company's philanthropic efforts.NBC Universal has partnered with Liberty Mutual on the project,which Liberty Mutual says reflected the company's strong existing corporate culture.
The commercials may be viewed on YouTube.Ben Harper's music is widely available on the web.
Another hidden gem was uncovered for us by advertising.
"Responsibility:What's your policy?" is the compelling slogan for the Liberty Mutual commercials.Congratulations to the Boston ad agency Hill Holliday and the company for this effective corporate communications effort.It has generated thousands of positive emails from viewers.
The commercials are part of the company's "The Responsibility Project."It was conceived in 2005 when the firm made a push to become a top five insurer,instead of a top ten.According to insurance company rating firm A.M. Best,they have achieved that goal,being the third largest property casualty insurer in the U.S. as of 2010.
"The Responsibilty Project" also incudes a website with short films on the responsibilty theme as well as discussion videos and tips on property and casualty topics,along with the company's philanthropic efforts.NBC Universal has partnered with Liberty Mutual on the project,which Liberty Mutual says reflected the company's strong existing corporate culture.
The commercials may be viewed on YouTube.Ben Harper's music is widely available on the web.
Friday, February 24, 2012
Thursday, February 23, 2012
Missing L.A. Mom:The Story and the Feeling
No one can read or cover such a story of senseless,violent crime without being affected by it.Now that a definitive i.d. of the body dumped off an L.A. on-ramp has been made-it is indeed that of Bree'Anna Guzman,22,who went missing when she walked to a Rite Aid drugstore to buy cough syrup for her children-at least her family and community know that much.
Yet this answer points to other questions.The coroner will answer some,but hard police work will have to find the others.In the mean time,the healing process will at least begin for all those who knew Ms.Guzman or followed the case as best they could from afar,feeling that it isn't O.K.,and that they're determined to give it the continuing attention it deserves-all the way to justice.
This blog,for one,feels such determination.
Yet this answer points to other questions.The coroner will answer some,but hard police work will have to find the others.In the mean time,the healing process will at least begin for all those who knew Ms.Guzman or followed the case as best they could from afar,feeling that it isn't O.K.,and that they're determined to give it the continuing attention it deserves-all the way to justice.
This blog,for one,feels such determination.
Monday, February 20, 2012
With Big Profit,GM Back On Top
General Motors came back last year to achieve the most profitable year in its history,earning a record profit of 7.6 billion dollars.This put it back in the spot of the world's largest automaker,displacing Toyota Motors.
We're growing profit,but we've got more work to do all across the company to get it to where we want it,said GM Chief Financial Officer Dan Ammann.We've been in a restructuring plan.It made over a billion dollar improvement,but clearly it's not going far enough in this environment.
We're in a discussion with our shareholders and other stakeholders.We had north of 11% return in the pension plan assets,which has helped us a lot.This is a long term game.We've got a lot of actions that won't bear fruit until two or three years out,Mr.Ammann indicated.
The record profit will be shared in the form of 7,000 dollar bonus checks for every GM autoworker.As part of its restructuring plan,GM closed 14 plants and three service parts operations.It had received 49.5 billion in government assistance.For the government to recover this,the GM share price will have to double.
As part of its 2009 bankruptcy,GM had closed more than 1,300 dealerships in the U.S. and Canada,evoking widespread bitter criticism.Thanks to Congressional action,a little more than half of the closed U.S. dealers,or 661,were eventually invited to apply for reinstatement based on their business metrics.
General Motors(GM),Toyota Motors(TM)
We're growing profit,but we've got more work to do all across the company to get it to where we want it,said GM Chief Financial Officer Dan Ammann.We've been in a restructuring plan.It made over a billion dollar improvement,but clearly it's not going far enough in this environment.
We're in a discussion with our shareholders and other stakeholders.We had north of 11% return in the pension plan assets,which has helped us a lot.This is a long term game.We've got a lot of actions that won't bear fruit until two or three years out,Mr.Ammann indicated.
The record profit will be shared in the form of 7,000 dollar bonus checks for every GM autoworker.As part of its restructuring plan,GM closed 14 plants and three service parts operations.It had received 49.5 billion in government assistance.For the government to recover this,the GM share price will have to double.
As part of its 2009 bankruptcy,GM had closed more than 1,300 dealerships in the U.S. and Canada,evoking widespread bitter criticism.Thanks to Congressional action,a little more than half of the closed U.S. dealers,or 661,were eventually invited to apply for reinstatement based on their business metrics.
General Motors(GM),Toyota Motors(TM)
Sunday, February 19, 2012
Asian Markets Open For Business-issue 2
Asian markets were opening higher across the board this morning,Monday.The MSCI Asia Pacific Index rose 0.92 on optimism for a Greek debt settlement in Brussels today,as well as China's relaxation of bank reserve requirements,freeing up capital for lending.
The People's Bank of China lowered the reserve ratio requirements by 50 basis points effective Friday,24 February.The cut is expected to add 64 billion dollars to the system.The reserve requirements were last eased in November 2011.
Thailand's flood-related losses were even more devastating than previously thought.Thai GDP fell 10.7% in Q4,when it had been expected to fall just 5.0%.The Thai economy grew a minuscule 0.10% in 2011 because of the deluge.
India's stock market is closed today for the Maha Shivrati holiday,while the U.S. market is shuttered for Presidents' Day.
China's Vice President Xi Jinping signed an agreement at the end of last week's visit to the U.S. permitting a substantial increase in the number of Hollywood films allowed into China from about 20 to 34 a year.As well,the revenue allowed to U.S. filmmakers from IMAX films will be raised from 13-25%.Mr.Xi's visit is being hailed as successful in both countries.He is expected to become President in 2013 and lead China for the next 10 years.
Dreamworks Animation is opening a studio in China with two Chinese partners.The 330 million dollar complex will be built in Shanghai.
Japan posted a record trade deficit.Exports were down 9.3% on the year,while imports rose 9.8%.Tokyo says the figure is a temporary decline in exports.
The People's Bank of China lowered the reserve ratio requirements by 50 basis points effective Friday,24 February.The cut is expected to add 64 billion dollars to the system.The reserve requirements were last eased in November 2011.
Thailand's flood-related losses were even more devastating than previously thought.Thai GDP fell 10.7% in Q4,when it had been expected to fall just 5.0%.The Thai economy grew a minuscule 0.10% in 2011 because of the deluge.
India's stock market is closed today for the Maha Shivrati holiday,while the U.S. market is shuttered for Presidents' Day.
China's Vice President Xi Jinping signed an agreement at the end of last week's visit to the U.S. permitting a substantial increase in the number of Hollywood films allowed into China from about 20 to 34 a year.As well,the revenue allowed to U.S. filmmakers from IMAX films will be raised from 13-25%.Mr.Xi's visit is being hailed as successful in both countries.He is expected to become President in 2013 and lead China for the next 10 years.
Dreamworks Animation is opening a studio in China with two Chinese partners.The 330 million dollar complex will be built in Shanghai.
Japan posted a record trade deficit.Exports were down 9.3% on the year,while imports rose 9.8%.Tokyo says the figure is a temporary decline in exports.
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