Gothamist has some photos of 175 Water Street in NYC — which until recently proudly displayed the name and logo of the American International Group. What happened?
Well, it seems that there’s a little rebranding going on. AIG told the NY Post that “the company had decided to replace the large AIG sign — outside the entrance to its property-casualty offices — as part of its plan to change that operation’s name to AIU Holdings Ltd”
From the NYPost:
A rebranding to distance the giant insurer’s sprawling operations across 130 countries away from the AIG name are likely to continue.
“I think the AIG name is so thoroughly wounded and disgraced that we’re probably going to have to change it,” Liddy told a U.S. House of Representatives subcommittee last Wednesday.
Any suggestions for him?
I would think that changing your corporate name has to be an enormous and unnecessary expense. But we don’t mind paying for this too….right guys?
Yes, we don’t mind paying for it because we are major shareholders in the company and want it to do well.
Just like we don’t want to destroy the company’s reputation, and our investment, because of a few practices we don’t like.
BDG>Ben Dover Group or SSG>Sit and Spin Group
Some crude juvenile reference to unwelcome anal penetration seems appropriate.
It already started. AIG Direct is now 21st Century insurance.
Who’s gonna pay for the Name change.. they better not touch that bail out money to do that!
That Dragnet line is back in my brain.
“Only the names have been changed to protect the innocent.”
How about NBI… Nothing But Initials.
There were already some jokes about this on Nightline, before I checked this blog. Saying things like “This will just make the joke ‘IAGreed’ would no longer work.” And, “Why not IOU. Or better IO-Your Grandchildren?” I think they dropped the ‘G’ so “A.I.G. is a P.I.G.” wouldn’t work too.
The ‘G’ in ‘AIG’ stood for “Group”. So what’s the ‘U’ suppose to stand for, if anything? Maybe it’s “Unholymess” or “Upyours”? Perhaps “Unlimitedbailouts”.
When is it going to be acknowledged that this firm is basically finished? And we’re just pumping money into it, until the major investors and board members all bail out with their cuts.
Required reading: Rolling Stone Magazines investigation of what happened at AIG.
http://rollingstone.com/politics/story/26793903/the_big_takeover
can i ASK..
If I have a contract to pay AIG money, will it default, because there IS NO AIG??
I would hope so..solve alot of little problems QUICK.
Their new name should be ‘W.O.E.N.S.U.’ for “We Owe Everyone Nothing, Screw U”.
GF (#2),
It was Andersen Consulting that became Accenture, not Arthur Andersen – http://tinyurl.com/cjp7sr
Andersen Consulting split off from Arthur Andersen in 1989…
Can I change my name that easy too??? Maybe it will help my finances too then… I mean it would be worth a try
New name:
A. I. OweYaOne.
It’s obvious, when business’s change their names, they begin a new financial background.
The old one (AIG) will then declare bankruptcy and have to be taken to court by the US Government in order to attempt to receive any of the funds they have taken.
Once the court case is in the working, the new company closes their assets of the old company rendering them non-existent.
If there is no AIG to get money from then consider the money given, and the stocks purchased by our Treasury, gone.
It’s typical business practices. Please tell me, DID YOU ALL NOT SEE THIS COMING?
I still think these should be hot sellers in Manhattan:
http://www.cafepress.com/CrazyDuckz.368797820#
We need a death penalty for corporations. Not name change, not restructuring, a real death so it can’t come back and wreak the same havoc again. If a corporation can be treated as a person in other ways, why not put it to sleep if it commits heinous crimes.
They’ll also make a new business model for them. Instead of an LLC. they’ll adopt NLC. No Liability Co.
AIU NLC.