American International Group today reported a loss of $61.7 billion for the fourth quarter of 2008--one of the largest ever recorded by a public company. At the same time, in coordination with the U.S. Treasury and Federal Reserve Board, AIG announced a restructuring both of its businesses and aid program from the federal government as it struggles to maintain its credit ratings and remain a viable company.
AIG held a conference call for the investment community to discuss these developments this morning at 8:30 a.m. EST, broadcast live on the Internet at www.aigwebcast.com. A replay will be archived at the same URL through Friday, March 20, 2009. (NU Online News Service will report on the call later this morning.)
For full-year 2008, the net loss was $99.3 billion, compared to net income of $6.2 billion in 2007, the company noted in a statement released today at 6 a.m. EST.
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