AIG Becoming Free, Intel’s CEO Pay, and iPad Beats Expectations (NYSE:AIG),(NASDAQ:INTC),(NASDAQ:AAPL)

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American International Group, Inc. (NYSE:AIG)  Chief Executive Officer Robert Benmosche said the insurer is becoming less reliant on U.S. aid as it sells units, borrows from debt markets and strengthens operations it intends to keep.  The bailed out insurer is “now on a path” to repaying the loans included in its $182.3 billion rescue package, Benmosche said in an interview yesterday. The company will first pay off the $25.3 billion it owes the Federal Reserve before deciding how to raise the cash it needs to end its separate arrangement with the U.S. Treasury that includes a draw on a second credit line of more than $40 billion.  “We are well on our way to paying back the Federal Reserve” with the sales of American Life Insurance Co. and AIA Group Ltd. to MetLife Inc. and Prudential Plc, Benmosche said. “We are beginning to show the appropriate returns you’d expect of a company of our stature.”  - Bloomberg

Intel Corporation’s (NASDAQ:INTC) Chief Executive Officer and President Paul Otellini's total pay rose to $14.6 million in 2009 from $12.4 million in 2008, the company reported Friday. The compensation package included $1 million in base salary, $7.9 million in stock and options and a $5.3 million bonus as well as other compensation. – Marketwatch

Apple Inc. (NASDAQ:AAPL) probably sold more than twice as many iPads in its debut weekend than some analysts estimated, an early sign that Chief Executive Officer Steve Jobs may succeed at reviving demand for tablet-style computers.  The iPad’s initial sales may have reached 700,000 units, Piper Jaffray & Co.’s Gene Munster said in an interview yesterday. The Minneapolis-based analyst had predicted sales of 200,000 to 300,000, while Sanford C. Bernstein & Co.’s Toni Sacconaghi had projected 300,000 to 400,000. – BusinessWeek

 

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