In our board meetings,we're talking about making an acquisition,rather than getting out of one,said Steve Miller,Chairman of American International Group.And we're getting closer to the point of not only paying back every penny of the bailout;but posting a profit for the shareholders as well.There's no guarantee;but it's certainly within the realm of possibility of occurring in the next 12 months,the insurance executive feels.
The context of AIG's progress is defined by Ward McCarthy of Jefferies&Co. as an economy that's doing O.K.,but with weak employment and a decline in business confidence.We have been getting a little bit too bullish,and now it's getting back to the way it should be.
The warm weather made some of the numbers look better than they otherwise would have been.Now the weather has changed,making it look less favorable.We really have a bifurcated real estate market.Home affordability has never been greater.What we really need is income growth to make it all possible,Mr.McCarthy believes.
Some good things are happening in the economy,such as AIG's recovery,but it isn't totally sound.
Jefferies&Co. is an institutional securities,asset management and investment banking firm,active in 30 cities worldwide.It also provides services to high net worth individuals.
American International Group(AIG),The Jefferies Group Inc.(JEF)