Opinion: Auto And Bank Bailouts Prove Effective
On Monday, the Treasury Department sold 553,846,153 shares in AIG on Monday, turning an $18 billion profit on the $32.50 a share price.
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On Monday, the Treasury Department sold 553,846,153 shares in AIG on Monday, turning an $18 billion profit on the $32.50 a share price.
The jobs situation actually is getting better, if you know where to look, reported WCBS 880's Wayne Cabot.
The New York insurance company said Wednesday that it also reached a deal with the Treasury Department allowing it to keep $2 billion in proceeds from the sale of its life insurance divisions.
AIG, which agreed to the sale in September, said it will keep its remaining insurance businesses in Japan.
AIG will issue 75 million warrants on Jan. 19 to shareholders of record Jan. 13. Shareholders who exercise the warrants stand to gain 36 percent if AIG's stock price retains its current level of about $61.
AIG said it closed its sale of American Life Insurance Co. Monday to MetLife Inc. for $16.2 billion. It said last week that it raised $20.51 billion through an initial public offering for AIA Group Ltd.
New York-based AIG was one of the hardest hit financial companies by the credit crisis and received the largest bailout the government doled out.
The plan would begin with the Treasury Department converting $49 billion in preferred stock it holds in AIG into common shares, according to the report.
In its single biggest repayment of bailout loans so far, American International Group Inc. said Monday it is paying back nearly $4 billion in taxpayer aid with proceeds from a recent debt sale.
Fourteen people were hospitalized, including three in critical condition, after the shooting at Buford's, a beer garden in Austin's entertainment district.
The U.S. military says three troops have been killed in the war with Iran, as President Trump says the operation is proceeding "ahead of schedule." Follow live updates.
The New York Islanders beat the Columbus Blue Jackets 4-3 on Saturday night for their fourth straight win.
Brian Anthony Moreland is a Tony Award-nominated producer who has worked on numerous hit shows and joins a short list of Black producers working on Broadway.
With the fate of Iran uncertain after Saturday's strikes by the United States and Israel, the shockwaves are being felt in the Tri-State Area.
Brian Anthony Moreland is a Tony Award-nominated producer who has worked on numerous hit shows and joins a short list of Black producers working on Broadway.
With the fate of Iran uncertain after Saturday's strikes by the United States and Israel, the shockwaves are being felt in the Tri-State Area.
Protests sparked up in New York City and across the country Saturday in response to the military strikes in Iran.
Local leaders across New York are reacting to the U.S. and Israel's major military operation in Iran.
The NYPD says it will be stepping up patrols at sensitive locations throughout New York City after the United States and Israel launched strikes against the Islamic regime in Iran early Saturday morning.
The Tri-State Area's weekend is looking like a tale of two seasons with both snow and sunshine.
Another round of snow is impacting the Tri-State Area Wednesday, just after a major blizzard dumped more than 2 feet of snow in some parts of New York and New Jersey.
Pet owners should be extra cautious with their pets during and after the major winter snowstorm impacting the New York and New Jersey area.
Double-digit snow totals have been reported across New York, New Jersey and Connecticut as a major blizzard begins to wind down.
The storm has started to wrap up in New York City, New Jersey and beyond, with impressive snow totals left in its wake.
With the fate of Iran uncertain after Saturday's strikes by the United States and Israel, the shockwaves are being felt in the Tri-State Area.
Several hundred protesters in Roxbury, N.J., took to the street Saturday expressing outrage over plans to build an ICE facility in their town.
The Tri-State Area's weekend is looking like a tale of two seasons with both snow and sunshine.
Neighbors of a home displaying hateful symbols in Woodland Park, New Jersey, say they have complained to police, but authorities said while it's disgraceful, it's still protected speech.
John Shippen was a child of former slaves who found his way onto a golf course and made history there.
A driver who allegedly struck and critically injured a Nassau County Police crossing guard on Long Island appeared in court Friday.
Four people were injured in a crash on the Long Island Expressway Friday morning.
A Long Island man accused of burning down four homes in the Pocono Mountains was arrested in New York City with a truck full of nitrous oxide.
Nassau County DA Anne Donnelly said Wen-Lone Chou stockpiled parts and tested the guns he built in a makeshift shooting range in his Mineola basement.
A Long Island crossing guard is in critical condition after being hit while shoveling snow in Merrick, sources said.
President Trump posted on social media that Iranian Supreme Leader Ayatollah Ali Khamenei had been killed after a massive U.S. and Israeli military operation Saturday.
Local leaders across New York are reacting to the U.S. and Israel's major military operation in Iran.
Americans weighed in on how long a conflict with Iran might last and what Congress should do.
The NYPD says it will be stepping up patrols at sensitive locations throughout New York City after the United States and Israel launched strikes against the Islamic regime in Iran early Saturday morning.
Trump ally Sen. Lindsey Graham said the operation would be "violent, extensive and I believe, at the end of the day, successful."
For the first time in 30 years, the Food and Drug Administration has approved a new treatment for an inoperable type of pancreatic cancer.
NYSNA has reached a tentative contract agreement with NewYork-Presbyterian, signaling a potential end to the longest nurses strike in New York City history.
NYSNA ratified contracts with Montefiore and Mount Sinai, clearing the way for nurses to return to work Saturday after walking off one month ago.
The longest and largest nurses strike in New York City history is set to end after over three weeks as NYSNA says it has a tentative agreement.
Mount Sinai Health System and Anthem Blue Cross Blue Shield failed to reach a contract agreement by Dec. 31, which means about 9,000 physicians are no longer considered in-network.
Brian Anthony Moreland is a Tony Award-nominated producer who has worked on numerous hit shows and joins a short list of Black producers working on Broadway.
Pokémon fans across New York City waited in live for special events marking the franchise's 30th anniversary.
Singer-songwriter Neil Sedaka, known for his hits like "Laughter in the Rain," "Breaking Up is Hard to Do" and "Calendar Girl," has died.
Streaming giant Netflix declined to match Paramount Skydance's $31 per share offer for Warner Bros. Discovery.
Harvey Weinstein has hired Luigi Mangione's and Sean "Diddy" Combs' lawyers to represent him at his third New York rape trial.
The New York Islanders beat the Columbus Blue Jackets 4-3 on Saturday night for their fourth straight win.
The New Jersey Devils beat the St. Louis Blues 3-1 on Saturday to end a five-game losing streak.
Julian Hall scored to lead the New York Red Bulls in a 1-0 victory over the New England Revolution on Saturday.
The New York Rangers rallied to defeat the Pittsburgh Penguins 3-2 on Saturday.
The New York Knicks routed the Milwaukee Bucks 127-98 on Friday night.
The National Dance Institute in Harlem hosts a special camp twice a year to bring together dancers with and without special needs for a dance camp, proving anyone can take center stage.
Could New York City's harsh winter weather end up curbing the number of rats? Here's why experts are saying don't count on it.
A Jewish congregation in Brooklyn is fighting to save their historic house of worship.
Harlem's Lafayette Theatre is believed to be the first major New York City theater to desegregate, just a year after its opening.
Multiple rezonings in Queens are paving the way for tens of thousands of new units, but some residents worry about how it could affect their communities.
The Halloween tradition strolled through Manhattan's East Village on Sunday, with furry friends dressed in colorful costumes.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dogs got decked out for the annual Tompkins Square Halloween Dog Parade in New York City's East Village on Saturday.
Cosplayers flooded New York City's Javits Center in October 2024 for the annual New York Comic Con convention.
CBS News New York's Marcia Kramer asked New Yorkers how they remember the COVID-19 pandemic and what they learned from that time.
At least two people were killed and 14 others were wounded in a mass shooting overnight at a popular bar in Austin, Texas, authorities said Sunday. The gunman was also killed, police said.
Iran's military is lashing out with missile salvos targeting ships and countries across the Middle East. Iranians are also gathering Sunday for the funeral of Supreme Leader Ayatollah Ali Khamenei, a day after he was killed.
A mix of snow and rain will impact the Tri-State Area on Sunday morning. CBS News New York's John Elliott has the forecast.
CBS News New York's Vanessa Murdock has your weather forecast for February 28 at 11 p.m.
