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Old 05-30-2014, 03:54 PM
 
Location: Port Charlotte
3,930 posts, read 6,446,599 times
Reputation: 3457

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AIG has announced it is cutting 1500 jobs and is moving 4000 jobs out of NY citing costs and tax issues. Among the locations being considered are locations in Texas. Bad news for NY, possible good news for Texas.
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Old 05-30-2014, 04:49 PM
 
Location: The Bayou City
3,231 posts, read 4,564,671 times
Reputation: 1472
Where in Texas is their much AIG presence? I know there is an AIG tower in Houston. It would be cool to see them build another or consolidate both to a super tall downtown or something.
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Old 05-30-2014, 05:07 PM
 
Location: Willowbend/Houston
13,384 posts, read 25,751,740 times
Reputation: 10592
Quote:
Originally Posted by TexasTallest View Post
Where in Texas is their much AIG presence? I know there is an AIG tower in Houston. It would be cool to see them build another or consolidate both to a super tall downtown or something.
I dont think there is going to be anything like that. According to the article below, they are going to be moving a lot of jobs out of New York and not into one place. Others include Georgia, Kansas, and Colombia:

AIG reportedly moving jobs to Texas - Dallas Business Journal
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Old 05-30-2014, 06:29 PM
 
Location: Kaufman County, Texas
11,856 posts, read 26,881,949 times
Reputation: 10608
They have a large presence in downtown Dallas.
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Old 05-30-2014, 10:45 PM
 
Location: Fort Worth, Texas
156 posts, read 244,858 times
Reputation: 185
I notice AIG has several skyscrapers. Fort Worth could use a new tower or two to improve it's pathetic skyline.

Dear AIG: If you relocate here, your new tower is sure to stand out in our skyline.
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Old 06-01-2014, 08:45 AM
 
978 posts, read 1,058,484 times
Reputation: 1505
Just because the building is named AIG doesn't mean they have a huge presence in that building. They might in some of these cases, but it's not uncommon if they do not because they might just be the actual owner of the building.

Must developers look for equity sources to be the primary financial backer to actually finance the building. Typically, Banks, Insurance Companies, and Pension funds have plenty of cash on hand...especially insurance companies.

Most of the money you, or companies, pay for monthly insurance companies never gets used so they look to invest into other profitable ventures....like financing a large office building.

Actually, you would be amazed how much extra cash insurance companies laying around. A company like GEICO runs about 5 plus marketing campaigns at the same time? Look a little closer and you will find that they invest in multiple "non insurance" ventures. even TV hows and movies.... GEICO was a huge financial sponsor of HC's Vikings TV show.

They all need to find an equity source and Insurance Companies are a GREAT place for them to start.
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Old 06-01-2014, 11:30 AM
 
Location: Warrior Country
4,573 posts, read 6,783,174 times
Reputation: 3978
Isn't this the company that the feds had to bail out? (to the tune of about 100 billion - that's billion with a B.)

Does this company actually make anything.....or do they just shuffle other people's money around & just take? Since my kid (& his future kids) are going to have to pay for this company's idiotic insuring of sub prime mortgage insurance products, I'd rather give their long time executives a jail cell as opposed to tax break....or force them to move across the river to live & work in Newark.
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