AIG Nixes Name on Wall Street Building

AIG now stands for "Anonymous, Inescapable Guilt." That's one possible interpretation of the insurance giant's move to take its logo off one of its New York buildings. Either that or they're following their own advice.

AIG's brand has become hopelessly tarnished after a government bailout and controversy over bonuses issued to executives in the financial-products group which wrecked AIG's balance sheet.

But what will replace it? AIU, the name going up on AIG's Water Street building? AGLA, the name given to a Nashville-based subsidary?

Company flacks are giving various reasons for the changes: The lower Manhattan building housed an insurance subsidiary unrelated to the tarnished financial products group, yet drew many protests because of its prominent sign. The Tennesee office is getting rebranded because insurance brokers are having trouble drumming up business under the AIG name. But let's be honest: Who sees these nameplates more often than anyone else? The employees who walk under them every day. The renaming is for their sake as much as anyone else's.

Here's an AP video of a freshly unsigned AIG building:



(Photo by Getty Images)