Word: quarterly
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...time when it was close to being scuttled by losses from credit derivatives on its balance sheet. He came to work for $1. He had only been in the job for a few months when AIG posted a loss of more than $61 billion for the last quarter of 2008. The company was well on its way to taking in $180 billion in government money. In return, taxpayers got 80% of AIG and a few promissory notes that are not worth the paper that they are written on. (See pictures of the global financial crisis...
...likely to be relieved for years if it is relieved at all. Taxpayers have put $180 billion toward keeping AIG in business and have an 80% equity stake in return. AIG says it will not need more government money, but it lost $4.35 billion in the first quarter of this year and a breathtaking $61.7 billion in the final quarter of 2008. It is probable that the taxpayers will never get all of their money back, but AIG does have divisions that are worth several billion dollars. If there is a timetable for selling those, the public has not been...
...other Macau casino operators are suffering financial fallout in a market turned cold by recession and an unexpected shift in Chinese policy. Last year, Chinese authorities without explanation began restricting the number of citizens who were allowed to enter Macau. Gaming revenues fell to $3.3 billion in the first quarter of 2009, a decline of almost 13% compared with the same period a year earlier; the number of visitors to the city dropped by nearly 10% in the first quarter. The declines are hitting hoteliers and casinos hard. Melco Crown Entertainment, a Nasdaq-listed joint venture between Laurence Ho (Pansy...
...highest among the 14 major U.S. cities it studied, adding that more than 40% of that amount came out of Miamians' own pockets. That echoes recent analyses by Medicare, Dartmouth College and Families USA, a consumer group that estimates that over a million Floridians spend more than a quarter of their household incomes on health care...
...bumps lie on Uribe's road to re-election. Colombia's House and Senate must reconcile different versions of the re-election bill, which then must pass muster by the Constitutional Court. The issue would then be put before voters near the end of the year. At least one quarter of the electorate - about 7 million people - has to turn out to vote for the result to be deemed valid. If the "yes" votes outnumber the "no" votes by any margin - even just one vote - the referendum is passed...