Police Academy 8: Corporate Raiders!

Just a little off the sides, man.
Author:
Updated:
Original:

Not this, please.

Ordered to the Academy barbershop by Lt. Icahn and Capt. Paulson, cadet AIG is hoping to get away with something in between a cheeky “just a little off the sides” and handing the clippers over to the hedge funds.

AIG is think something a little sleeker, a little more modern, a little less attractive to the today’s activists. But nothing too drastic.

Mr. Hancock and AIG (NYSE: AIG) Chief Financial Officer David Herzog sought to clarify some previous comments from the company’s executives about “sculpting” its portfolio of businesses, Mr. Stirling said. They said those comments shouldn’t be interpreted “merely as pruning or using ‘nail clippers,’” but on the other hand they don’t want to take a “machete”‘ to the company either. In other words, AIG is seeking “a middle ground and measured approach,” according to Mr. Stirling….

AIG “reiterated the view that it has no intention” of breaking up, Credit Suisse’s (NYSE: CS) Mr. Gallagher wrote.

AIG’s Response to Break-Up Pressure: Between ‘Nail Clippers’ and ‘Machete’ [WSJ MoneyBeat blog]

Related

AIG CEO Knows His Company Is Worthless

"There is no easy way to make this company valuable."

Icahn v Hancock: A Rumble In Manhattan

Did it go better than Icahn v Ackman: CNBC Cage Match?

AIG Leaves Carl Icahn No Choice

...but to take the first in a series of steps that will ultimately lead to its CEO maybe being replaced by one of Carl's choosing.

Hank Greenberg: Humanitarian

He sued the government for the little people.

WSJ: Carl Icahn Taking On AIG Mostly To Prove His Point

What do you get the almost-Octonegarian who fights with everything?