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6:51 am
January 9, 2013
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Financial Samurai
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What are your thoughts on AIG planning on suing the US government for unfairly treating its shareholders during the bailout?
Why would they sue the gov't who saved their company while running a "Thank You America" ad campaign?
Kinda weird!
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Regards,
Sam
Financial Samurai - Helping you achieve financial freedom sooner, rather than later.
Yakezie Network Founder
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8:38 am
January 9, 2013
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MoneyBeagle
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It looks like a pretty bad move from a PR perspective, but at the same time, if they've gotten any word that they could actually yield something they would be remiss not to at least take a look at it. The board of directors has to answer to the shareholders, and if several billion dollars were left on the table, I'm sure heads would roll.
It's probably a no-win situation. They either take a huge PR hit or take the possibility of leaving money on the table.
I personally think they should NOT sue the government. The financial industry comeback has gained a lot of momentum over the last 18 months, and I believe the goodwill that they've built up could be largely damaged by participating in a lawsuit, and this could have negative effects on the bottom line, which could offset some or all of whatever settlement they worked out. Assuming there is one.
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9:57 am
January 9, 2013
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Edward Antrobus
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I would believe that the government investing $93b in the company would make them the priority stakeholder in the company. Any claims from other shareholders should be secondary to the government. I mean, come on. What are the shareholder complaints? Did they loose a dividend? Did the stock price dip? Those outcomes are a heck of a lot better than what shareholders would have seen if the bailout hadn't happened.
That said, if the government didn't provide themselves with immunity from such claims, the company is legally bound to pursue them. That said, AIG would probably do a lot better in the court of public opinion by getting sued by their shareholders than in suing the government over this matter.
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4:12 pm
January 9, 2013
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debtroundup
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I think this is in poor taste. I know that they are doing it because their largest shareholder is pushing the lawsuit and if they don't join and he wins, then their shareholders will be pissed because it is a lot of money. It is in poor taste and just shows that we should have left that company on it's death bed.
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5:03 pm
January 9, 2013
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Financial Samurai
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Just read the board decided not to sue USA. I thought I was in bizarro land for a moment this morning.
Ain't America great? Get bailed out, recover to strength, run a "Thank You America" campaign, and sue the heck out of the Feds.
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Regards,
Sam
Financial Samurai - Helping you achieve financial freedom sooner, rather than later.
Yakezie Network Founder
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6:44 am
January 10, 2013
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Khaleef @ KNS Financial
| | Fat Guy, Skinny Wallet | |
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I'm glad they decided against it. There is no way this would have ended well for them…even if they somehow recovered some money.
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