Monday March 2, 2009 Navivest

Struggling insurance giant AIG (AIG), today got a boost from the government, after the U.S. Treasury Department and the Federal Reserve Board today announced that the government will be restructuring its prior investments in the company, “in order to stabilize this systemically important company in a manner that best protects the US taxpayer.”

The restructuring plan is being done to enhance the company’s capital and liquidity position, so that AIG can continue with it’s global divestiture program.

Details of the restructing plan according to the Treasury include:

Preferred Equity The U.S. Treasury will exchange its existing $40 billion cumulative perpetual preferred shares for new preferred shares with revised terms that more closely resemble common equity and thus improve the quality of AIG’s equity and its financial leverage. The new terms will provide for non-cumulative dividends and limit AIG’s ability to redeem the preferred stock except

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We've discussed recently the hot new place for natural gas is the potentially enormous Haynesville Shale [Jul 2: Petrohawk Energy and Chesapeake Energy Flying on Haynesville Shale News] (EDIT: Let me add 2 additional names) I've been hoping one of the 4 names closely associated with this space, either Petrohawk Energy (HK), Goodrich Petroleum (GDP), GMX Resources (GMXR), and Comstock Resources (CRK) would sell down to their 50 day moving average now that natural gas has finally been hit. But no mas as the charts below show. Things are going so well, that Goodrich actually placed a 3M share offering at $64 today and the stock is ...