AIG Who? Company Name Removed From Facade Of New York Building

Gothamist has some photos of 175 Water Street in NYC — which until recently proudly displayed the name and logo of the American International Group. What happened?

Well, it seems that there’s a little rebranding going on. Click here to see what the building used to look like.

AIG told the NY Post that “the company had decided to replace the large AIG sign — outside the entrance to its property-casualty offices — as part of its plan to change that operation’s name to AIU Holdings Ltd”

From the NYPost:

A rebranding to distance the giant insurer’s sprawling operations across 130 countries away from the AIG name are likely to continue.

“I think the AIG name is so thoroughly wounded and disgraced that we’re probably going to have to change it,” Liddy told a U.S. House of Representatives subcommittee last Wednesday.

Any suggestions for him?

No AIG Here! Financial District Building De-AIGs Facade [Gothamist]
(Photo:Dan Albanese)

Comments

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  1. lannister80 says:

    Shitheads International Ltd.?

  2. lalaland13 says:

    I can’t wait until they put up a new sign with the name foretold by Jon Stewart as more appealing: Herpes.

  3. SWBLOOPERS says:

    OPM a.k.a. Other People’s Money

  4. Blb3303 says:

    AIU = Ain’t In Yourbest intrest (LLC.) ?

  5. HrPingui says:

    IOU?

  6. dorianh49 says:

    They’re getting ready to display their Golden Turd there!

  7. Burgandy says:

    Too big to fail and to stupid too not fail Inc? Will that fit?

  8. legwork says:

    Huh. “AIU.” That sort of fits.

    Taxpayers, time to grab (A)nkles, (I)n (U)nison.

  9. LetMeGetTheManager says:

    So the taxpayers are helping to pay for all the new letterhead, signage, and branding now too…

  10. Telekinesis123 says:

    Just like a criminal tries to change their name and go into hiding.

  11. YouDidWhatNow? says:

    …how about SCRU – Some Criminals Reaming U

  12. Kaellorian says:

    Did AIG’s grandmother just co-sign its lease for it as well?

  13. bigroblee says:

    UFIA America

  14. wgrune says:

    Wow, they really went for a bold chang there; one whole letter different!

  15. HiPwr says:

    I guess they will have to get new checks with the new name on it so that Chris Dodd and Barack Obama know exactly who is giving them those large campaign donations.

  16. TheBusDriver says:

    Do we get to pay for a fancy new sign? Great…

  17. Michael Worth says:

    Seems like I commented on rebranding just yesterday…. No surprises here… Wonder if AIG/AIU will be surprised when the American People aren’t fooled by a silly name change?

    • alexcassidy says:

      @Michael Worth: Um…. I hate to break it to you, but are you aware of what the American peoples’ collective attention span is? (I’ll give you a hint… not great)

      • smackswell says:

        @alexcassidy: Anyone remember what Altria used to be called? Wait, you’ve never heard of Altria?

        Oh, they used to kill people or something.

        • oneandone says:

          @smackswell: Philip Morris.

          And if they had changed it in the heyday of the tobacco politics wars (5 years ago?) people might have remembered. But they did it quietly once they were a bit out of public view. Changing AIG to AIU or whatever it is right now won’t work, since the new name will still be in headlines. Wait a few years, and it’ll work.

          PM’s seems to have worked quite well since I can’t remember if they’ve gone back to the PM, or spun off their international group… there was some corporate shifting a short time ago, but the specifics elude me. Hmmm. Maybe the Altria thing worked.

          • smackswell says:

            @oneandone: Frankly, I think AIG’s name change is brilliant, just like Philip Morris to Altria. Altria is instantly forgettable. People hear the name and instantly forget it. AIU? It’s a bunch of vowels. As long as this debaucle is in the public eye, they will be referred to as AIG. After people move on to something else in the news, the company will fly under the radar.

        • wastedlife says:

          @smackswell: Checked Wikipedia to make sure I was right in that Altria is the new name for Phillip Morris, and found this:

          The name “Altria” comes from the Latin word for “high”…

          If they switch to a certain other plant to make cigarettes from than their name would be perfect!

  18. Razorgirl says:

    I honestly think AIG is simply hoping that if they remove all signage and make sure employees never display logos or credentials when leaving the building (ala the previous AIG security memo) there is less likelihood that the (obviously clueless) angry taxpayer will know where to locate them for revenge and/or public floggings.

    run-on sentence ftw!

  19. bsbeamer says:

    maybe it’s due to all the death threats that the average worker has been receiving… feel bad for them

  20. Canadian Impostor says:

    Time to make a giant “AIG” stencil and head down there tonight with a ladder and some spray paint.

  21. Michael G says:

    Another 10 million to be spent on a name change? Will the phone number change too?

  22. Blueskylaw says:

    AIU Holdings, Inc. is a unique franchise with employees worldwide and 500 products and services serving 40 million commercial and individual customers.

    AIU Holdings is the marketing name for the worldwide property casualty insurance operations of AIU Holdings, Inc. and AIU Holdings LLC. In the United States, all products are written by insurance company subsidiaries of AIU Holdings, Inc.

    This is the same as Phillip Morris changing their name to Altria Group. Same sh*t, different name.

  23. Applekid ┬──┬ ノ( ゜-゜ノ) says:

    Change the name of the company: Check.
    Change the people in charge that ran it into the ground: Whoa whoa there, let’s not go crazy.

  24. Nighthawke says:

    It was probably in an effort to keep the building from getting vandalized.

  25. ganzhimself says:

    What people are do not get is that this is the Commercial Insurance part of AIG… The part of AIG that actually makes money and has billions of dollars in operating reserve that is completely seperate from AIG, Inc. The stigma that AIG, Inc. (and AIG FP in gerneral) brought on the rest of the profitable, well-run portions of the company have caused a makred down-turn in insurance sales even though individual units within CI have billions of dollars in reserve above what is needed to pay all claims. For example, NFUIC, an underwriter, has $12 Billion in reserve that cannot be touched by AIG, Inc. This is a formal rebranding and seperation from the tainted AIG name.

  26. HungryTuna says:

    IMO… “IOU Holdings Ltd” would be a much better name

  27. ganzhimself says:

    @ganzhimself:
    Or… What People do not get… Ok, it’s been a long day and I had a typo. Oops.

  28. bohemian says:

    I thought AIG was supposed to be selling off those other assets to pay their debt to us. So why bother rebranding it when your supposed to be selling it?

    This is about like Blackwater renaming themselves Xe. Still the same bunch of mercenary crooks.

  29. crichton007 says:

    How about “POS”?

  30. el_smurfo says:

    AIU sounds a lot like IOU…their business model for the taxpayers for the next 1000 years…

  31. ZukeZuke says:

    I don’t remember reading that in the AIG security memo last week…

  32. Tank says:

    AIU = America’s Indignant Usurpers

  33. CumaeanSibyl says:

    I think HrPingui won the thread already.

  34. ShadowFalls says:

    Why the bother with a name change? It is going to be wildly spread through the media as what the name is and what it used to be. Are they expecting to fool everyone with this or something?

  35. razremytuxbuddy says:

    G.A.G. (Great American Greed)

    A company that is insolvent and supposed to be selling itself off doesn’t need a new name and high-dollar marketing campaign. It needs to SELL ITSELF OFF, NOW.

  36. Anonymous says:

    I find it abhorrent that AIG is being used as a scapegoat by the Obama administratation. Who cares about 165 million in bonuses, thats a mere drop in the swimming pool of the 1.8 trillion deficit created by Pelosi and pushed through by Congress, earmarks and all. Now they want to throw in another trillion, are they insane? That means Obama will have created a deficit in ONE YEAR greater than the waste Bush produced in eight!

  37. Julia789 says:

    Definitely because of the AIG death threats, and threats to damage the building. Landlords are worried about their building, and AIG employees are getting horrible threats. Even the secretaries are being threatened. It only takes one nutjob to actually follow through, and kill some poor employee that had nothing to do with the scandal.

  38. sebadoh128 says:

    Don’t know about a name, how about a slogan?

    “10% more incompetent than our new government owners!”

    or

    “Under New mis-Management!”

  39. whydidnt says:

    Of course, some of us wonder what’s worse. A company like this failing and acting miserably with taxpayer funds – or a government that freely continues to give funds to failing businesses.

    If ever you wonder why many of us are cynical about Washington Politics, especially the current regime of “change”. Look no further than the $600,000 AIG contributed to campaigns last year, including over $100,000 each to Obama and Dodd. Soooo, they get taxpayer money, then turn around and give it politicians, who in turn give it back to them in the form of more bailout $$. Seems like good work if you can get it. What ticks me off is how the mainstream media continues to focus on AIG, yet never reports on the idiots in Washington who continue to compound the problem by throwing more money at it.

  40. valen says:

    How about calling it “The Chapter 7 Investment Group”? Their new motto could be “Going out of business since sometime in 2007″.

  41. runswithscissors says:

    EBC: Executive Bonus Club
    “Where the Elite Meet to Take Your Money”

  42. Wit says:

    “FU”

    It’s pretty much been their business model after all…

  43. HarbingerTG says:

    Almost In Uranus

  44. Coelacanth says:

    Maybe somebody should haul a giant bronze statue of bull crap in front of their building.

  45. Brandon David Maas says:

    I wonder how much it cost them to remove the sign? just another way to chuck more money down the hole… oh wait we are all supposed to be positive in these rough times, I bet they created a job for the afternoon billed out to the company for $6000.00 and paid the guy $15.00 for the hour it took to remove.

  46. veg-o-matic says:

    Xe: Financial Division

  47. FuryOfFirestorm says:

    “Anal Injury Unlimited…making butthurt since 2009″

  48. bigmac12 says:

    Hmmmmm…a new sign is in order….

    How about “WTF”

  49. pecan 3.14159265 says:

    Maybe they tried to send it in to Cash to Gold?

  50. vastrightwing says:

    BOA

  51. Nathan Nash says:

    Watch the ticker on bloomberg tomorrow to see that they changed names.

  52. bmorg003 says:

    I love the idea of naming them “IOU,” mentioned earlier. Also the name “ForeQue” would be appropriate as well, with a logo of the New Jersey state bird.

  53. Urgleglurk says:

    No suggestions that I can post on a family website.

  54. crunchberries says:

    This whole name change of AIG’s reminds me of the Looney Tunes Roadrunner cartoons where Wile E. Coyote thought he could prevent himself from being crushed by taking a step to one side of a falling boulder’s shadow.

    Sadly, it didn’t work for him and it’s sure not working for AIG.

  55. vladthepaler says:

    ABG: American Bailout Group

  56. gusgallows says:

    My wife processes annuities for AIG. Several of the people she works with have been threatenned simply because they work for AIG. What people don’t seem to understand is, these folks, they don’t get bonuses and have no input on what the executives do. Yet they are in danger because of the executive’s actions and the media’s focus on it. I am on a contract with a different company and can not be home to protect my family from public outrage being misdirected toward my wife and my kids. The memo my wife got saying not to wear her badge or her AIG branded shirts outside of the facility is in response to the threats these employees are getting, not part of some “out of site out of mind” philosophy. How would you like it if your family were endangered because they work for a place whose executives have no scruples? There are no jobs out there so she can’t quit and she shouldn’t have to. She, nor any of the folks she works with have done anything wrong. Think about that before you link her in with the criminally greedy at the top of that company.

  57. zandar says:

    Kaellorian, you made me snort. loudly.

  58. Wang_Chung_Tonight says:

    AIU:”That wasn’t us, that was AIG-you have us confused!”

  59. It's not my baby, baby! says:

    They should change their name to “HAHA.”

    As in Ha Ha we got your money you law-abiding, tax-paying, sucker!!!

  60. MooseOfReason says:

    I find it funny it’s the “Property-CASUALTY” building.

    Huh!?

  61. Sean Masters says:

    They should be forced to keep the name and display it on every company-owned/leased/controlled building, vehicle, etc.