More showers & storms expect to be on and off the rest of your Friday. Flash flooding will be our main concern with a Flash Flood Watch through 8pm.
CHARLOTTE, N.C. (AP) - American International Group -- once the
world's largest insurer -- says it lost $61.7 billion in the fourth
quarter, the biggest quarterly loss in U.S. corporate history, amid
continued financial market turmoil.
The results come as the U.S. government announced a
restructuring of a bailout plan for the troubled insurer, extending
$30 billion in additional aid to the company.
New York-based AIG said it lost $22.95 per share in the last
three months of 2008. It lost $5.3 billion, or $2.08 per share, in
the quarter a year ago.