Monday, September 15, 2008

AIG shares fall 45%, oh how the mighty have fallen

I remember when I once worked for American International Group, the world's largest commercial insurer. Oh, how the mighty have fallen, as their share price today is down 45%.

I left the firm in 1990. They were one of the first conglomerates to outsource their IT staff to cheap off-shore labor. My manager back then, Linda Kilcrease, testified before the US Congress for several days concerning the devastation that this action was having on workers, and on the nascent corporate assault on the US middle-class.

She was way ahead of her time in appreciating the impact that these activities would have on American technical workers. I salute her efforts, and I wonder where she is today, and what she feels about the current issues enveloping AIG.

1 comment:

Anonymous said...

Too bad I still own shares in AIG. I've been screwed by them twice! Guess I'll never learn.