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LOCAL TIE TO AIG CRISIS
Tuesday, September 16th, 2008 -- 11:36 am
Posted by Riley Hebert-News Director
Monday was a wicked day on Wall Street as the Dow collapsed, plummeting 500 points. The largest single-day loss since the wake of the September 11th, 2001 terrorist attacks.
Now, American International Group, or AIG, the world's largest insurer, is said to be teetering on the brink of failure.
That could impact some area workers. AIG acquired Stevens Point-based Travel Guard two years ago and is one of the five biggest employers in the city.
Local officials think AIG-Travel Guard can withstand the troubles, and plans are still on track for the company to open a new $20 million headquarters next year.
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