Gothamist has some photos of 175 Water Street in NYC — which until recently proudly displayed the name and logo of the American International Group. What happened?
Well, it seems that there’s a little rebranding going on. AIG told the NY Post that “the company had decided to replace the large AIG sign — outside the entrance to its property-casualty offices — as part of its plan to change that operation’s name to AIU Holdings Ltd”
From the NYPost:
A rebranding to distance the giant insurer’s sprawling operations across 130 countries away from the AIG name are likely to continue.
“I think the AIG name is so thoroughly wounded and disgraced that we’re probably going to have to change it,” Liddy told a U.S. House of Representatives subcommittee last Wednesday.
Any suggestions for him?
I would think that changing your corporate name has to be an enormous and unnecessary expense. But we don’t mind paying for this too….right guys?
GF (#2),
It was Andersen Consulting that became Accenture, not Arthur Andersen – http://tinyurl.com/cjp7sr
Andersen Consulting split off from Arthur Andersen in 1989…
Can I change my name that easy too??? Maybe it will help my finances too then… I mean it would be worth a try
New name:
A. I. OweYaOne.
It’s obvious, when business’s change their names, they begin a new financial background.
The old one (AIG) will then declare bankruptcy and have to be taken to court by the US Government in order to attempt to receive any of the funds they have taken.
Once the court case is in the working, the new company closes their assets of the old company rendering them non-existent.
If there is no AIG to get money from then consider the money given, and the stocks purchased by our Treasury, gone.
It’s typical business practices. Please tell me, DID YOU ALL NOT SEE THIS COMING?
I still think these should be hot sellers in Manhattan:
http://www.cafepress.com/CrazyDuckz.368797820#
We need a death penalty for corporations. Not name change, not restructuring, a real death so it can’t come back and wreak the same havoc again. If a corporation can be treated as a person in other ways, why not put it to sleep if it commits heinous crimes.
They’ll also make a new business model for them. Instead of an LLC. they’ll adopt NLC. No Liability Co.
AIU NLC.