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Porsche's Off-Message Models Axed in VW Takeover

Get a good look at the Porsche Cayenne SUV. In the wake of the bizarre German corporate

VW_Bluesport_concept_car.jpg

soap opera whose end will soon see the absorption of Porsche AG into the mighty Volkswagen Group, the controversial Cayenne -- and even more astoundingly, the just-released Panamera four-door sport sedan -- has no future after VW takes over.

Such is the report from Britain's Car magazine, which says a "massive U-turn in Porsche's product plan" resulting from the bitter VW boardroom triumph means Porsche will be forced to discontinue the Cayenne and Panamera after their product cycles are complete around seven years from now.<<FullArticle>>

AIG Pays $900K to Reconcile Mass. Workers' Comp Payout Problems

AIG has paid an additional $900,000 to the Central Artery Tunnel (CA/T) Project in Massachusetts as part of an ongoing reconciliation of premiums and residual market payouts stemming from the ..<<Full Article>>

AIG interviewing banks on ALICO IPO: Sources

NEW YORK (Reuters)—American International Group Inc. is interviewing banks this week to manage a planned initial public offering of life insurance unit American Life Insurance Co., sources familiar with the matter said.<<Full Article>>

IRS rules clarify 401(k) auto-enrollment rules

WASHINGTON—New Internal Revenue Service rules will make it easier for employers to add an automatic enrollment feature to their 401(k) plans, as well as add a provision in which employees’ salary deferrals will increase automatically.<<Full Article>>

AIG leadership change opened door to arbitration: Lawyer

NEW YORK—A change in leadership at American International Group Inc. led to the recently announced arbitration agreement between the insurer and its former chief executive officer, a lawyer for Maurice R. Greenberg said.<<Full Article>>

 

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