AIG To Sell US Auto Unit To Zurich Financial Services: Report

Bloomberg:

American International Group Inc. is close to selling its U.S. auto business to Zurich Financial Services AG for more than $1.5 billion, the insurer's biggest divestiture since being rescued by the government, said two people familiar with the situation.

Read the whole story: Bloomberg

Comments

[rblaquinta]

09:14 AM on 04/16/2009

If anyone heard the hearings when Liddy was on the hot seat...they are starting to breakup the profitable units of AIG, just as he said they were going to do...This is a very good thing.....

[Haditup2here]

07:37 AM on 04/16/2009

Funny, I thought most of their losses and debt was due to their Financial Products Division. I guess no one wants it.

[johncando]

05:36 AM on 04/16/2009

Now this money could go to shore up the auto workers and float it for it is coming back from the brink with a bit of luck too.

[themodernleader]

12:02 AM on 04/16/2009

As our country continues to accumulate debt to pay debt we are gradually selling our assets to private concerns. We will be as Stephen Crane's homeless character, looking through the window as the alien masters count their spoils on the backs of a broken American people.

[drymartini1]

09:39 PM on 04/16/2009

do you want the US govt to get paid or not. the only way that can happen is to break up AIG.

asset sales is the best answer for the taxpayer to get paid !!