AIG Reverse Stock Split July 1, 2009 7/1/09

American International Group, Inc. (AIG) stock is significantly higher today due to a reverse stock split voted at the annual shareholders meeting yesterday. As of 7:42am EST on July 1, 2009, AIG shares are trading at $20.33 but will adjust as pre market opens. AIG has voted on a 1-20 reverse stock split. The amount of your shares decreases by 20 times while the stock price increases by 20 times. AIG stock should open and trade around $23.20 given the $1.16 close on June 30.

AIG Reverse Split - 7/1/09

Approved by a vote of 12,133,960,487 shares for and 228,802,024 shares against, with 46,155,155 shares abstaining, a proposal to amend AIG’s Restated Certificate of Incorporation to effect a reverse stock split of AIG’s outstanding common stock at a ratio of one-for-twenty

AIG shareholders press release

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AIG Loss, Bailout 3/2/09 March 2, 2009

AIG reported a 61 billion dollar loss for the 4th quarter and received a separate bailout today, March 2, 2009. In an effort to stop systemic risk, AIG will receive an additional 30 billion to stop the damaged insurer from going bankrupt.

American International Group's ( AIG ) stock price is actually going up on this news in pre market trading while futures tank. AIG is trading at $0.52 - Up 24%.

As part of the latest bailout effort, the Fed will reduce a $60 billion credit facility in exchange for taking a preferred interest in AIG subsidiaries American Life Insurance Company and American International Assurance Company. The credit line will not fall below $25 billion.

CNBC's Steve Leisman said that for many years AIG took huge risk with no regulation and when the music stopped, there wasn't even a chair in the room to sit down on.

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AIG - Private Sector Deal DEAD - Goverment now?

CNBC is reporting that the Government is looking at AIG again for a bailout.....and David Faber just received a phone call from a source saying a private sector bailout out is DEAD. This would mean if the above it true, AIG goes bankrupt...or the Government bails AIG out.

Internet Stocks are very strong today.....GOOG and AMZN to name a few.