Edward Liddy Presents ‘Project Destiny’


AIG CEO Edward Liddy and a number of the insurer's top executives are due to appear in front of Congress on Wednesday, at which point they will present their new, multiyear road map for restructuring the company. The plan, according to The Wall Street Journal, has been code-named "Project Destiny" internally, and was recently described to AIG's employees in an e-mail with the subject line "Seize the Future."

The bulk of the message consists of an update on Project Destiny by Paula Reynolds, AIG's vice chairwoman and the head of its restructuring effort.

"Simply put, we are going to get our groove back," wrote Ms. Reynolds.

We're sorry — maybe it's because we saw Anvil recently — but "Project Destiny"? "Seize the Future"? Getting their groove back? Sounds to us like Liddy et al. are planning on presenting their plan in the form of a face-melting performance of pure metal. We hope Congress is ready to rock!

AIG Sees Long Road Back From the Brink [WSJ]