AIG will probably pay taxpayers backmost if not all of our investment in the once-dominant insurer. Asset sales are proceeding well, valuations of those assets are solid, the new Chartis looks to be off to a good start, and morale is slowly improving.
And where, one might ask, are the plaudits from the politicians? Or at least grudging respect for the AIG staffers who’ve been able to keep the company afloat while dealing with public and private ridicule?
As we enter Thanksgiving week, I’d like to acknowledge the people at AIG who’ve been able to continue performing as well or better than their competitors despite death threats, highly skeptical buyers, and a brutally soft market (in part due to Chartis’ desire to hold on to share and premium dollars).
They’ve got a long way to go, and are far from perfect, but they deserve respect.
Send this to your Congressperson and Senators. Perhaps they’ll have occasion to send their own message of congratulations and thanks.
There’s always hope…
Nov
23
Well said, Joe. It wasn’t middle management and staffers who brought down the company, but it’s they who are saving it.
I dont know who you talked to about morale improving. I can tell you from the people I know that work there it is in the toilet. they are letting go of seasoned claims examiners and having others pick up the slack. Caseloads are extreamly high and they all have weekly quotas they have to meet or they get the boot. Quality is Job NONE at chartis its all about the numbers.
Kslon – It’s all relative, and relative to where morale was eight months ago, it is certainly better. Chartis is more than claims; while claims may be in rough shape now morale in other departments is considerably improved.
Paduda
Letting Hank G. go turned out to be a big mistake. Perhaps they would not have taken on as much risk with him still at the helm, but glad to see things improving.