American International Group Inc., the large diversified financial firm that was rescued from bankruptcy by a federal bailout, has posted its first quarterly profit since the third quarter of 2007. AIG posted net income of $1.8 billion compared to a loss of $5.4 billion for the same quarter a year ago. With the U.S. government bailout, the government owns 79.9 percent of the company. Also last week, the company named Robert H. Benmosche, the retired chairman of MetLife Inc., as its new chief executive, the fourth in a little more than a year.
August 12, 2009