Archive for June 2009

Travelers Cos, In Ironic Twist, Takes Citi’s Place In Dow

Jun 1st, 2009 | Category: Insurance Today

(Dow Jones) – The red umbrella is back in the Dow. In an ironic twist, Citigroup Inc. (C) will soon lose its place in the Dow Jones Industrial Average to Travelers Companies Inc. (TRV), a property-and- casualty insurance company Citi sold only seven years ago. In the corporate world, the two companies are something like […]

Obama’s plan to save GM: bankruptcy, $30 billion

Jun 1st, 2009 | Category: Insurance Today

President Barack Obama pushed a humbled General Motors Corp. into bankruptcy on Monday and said the federal government will act as “reluctant shareholder” when it assumes a 60 percent ownership of the smaller carmaker that emerges. The president said he hopes GM – once a proud symbol of American capitalism — would emerge quickly from […]