American International Group CEO Robert Benmosche told employees he plans to rebuild businesses and will not be rushed by the U.S. into selling assets at unfavorable prices, reports Bloomberg. “I don’t liquidate things, I build them,” he said during a town meeting-style meeting with employees on August 4. “When we get the fair value for those businesses, that’s when we’re going to sell them; it’s not going to be before.” Benmosche, plans to repay loans within AIG’s $182.5 billion bailout. “We believe we will be able to pay back the government and we hope we will be able to do something for our shareholders as well,” Benmosche said today in a Bloomberg Television interview from Croatia, where he has a home.
AIG’s Benmosche Expects to Repay Taxpayers
New AIG CEO Robert Benmosche told employees he will not be pressured into repaying the government if that means selling assets at unfavorable prices.
August 20, 2009