Bloomberg reports that income from AIG's alternative investments group (basically its private equity and hedge fund business) fell 84% from $1.22bn a year ago to just $197m in the first quarter. AIG posted a $7.81bn first-quarter loss last week.
Here's a few of your comments on that 'A Nasty Business - An Open Letter From A Back Office Professional' item posted last week.
There have been rumours that offshoring hot spots like India are finding it hard to attract and retain quality staff at the right price, and have been offshoring work themselves to cheaper locations (a sort of subcontracting offshoring thing).
'Selling Women Short - Gender and Money on Wall Street' by Louise Marie Roth (Princeton University Press) is a good read. Here are a couple of diversity gems mentioned in the book:
According to a number of press reports, another investment bank has been caught out by the e-mail bug. In this case, there are reports that a 'rogue' firm employee (or employees) jumped the gun and sent out unauthorized e-mails to 175 institutional clients in connection with the forthcoming $1.5bn Hertz IPO.
Staff at some of the US firms are only a few weeks away from finding out how big their bonuses for 2006 will be. And we asked you just how objective you think your firm's bonus allocation process will be this time around.
Here are a few of the efforts you sent in in response to our latest caption competition:
We asked you for your views about fare dodgers. The issue hit the news again this week, after Ticket Inspectors allegedly throttled a fare-dodging suspect, physically detaining him until he was taken away by police. Here are some of your views on this subject:
Both Citigroup and Credit Suisse have been in the news recently as they are pulling in their belts in an attempt to rein in costs. Credit Suisse boss Brady Dougan has told staff that, among other things, they can no longer use color photocopying - unless it's for a client presentation. At Citigroup, during another attempt to cut costs, staff were apparently told not to order a taxi unless they were ready to use it. The company didn't want to pay for any cab 'waiting' time.
UK government minister Harriet Harman said earlier that week that the size of some City bonuses were 'sick', and that something should be done about them in the name of equality. Here are a few of your posts on this subject:
The trader at the centre of the criminal investigation surrounding JPMorgan's $5.8bn trading loss has hired a lawyer in Paris, two sources familiar with the investigation told Reuters Thursday.
Royal Bank of Scotland's involvement in the Libor rigging scandal could be worse than Barclays' and may force the state-owned bank to pay a bigger fine than its UK rival, an MP has claimed.
This is probably the biggest reality check yet.