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BUSINESS BRIEFS.(TO THE POINT)

Investor's Business Daily

| May 02, 2002 | COPYRIGHT 2002 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

FINANCE

AIG names possible heirs to CEO

American International Group named Martin Sullivan and Edmund Tse co-COOs, making them the most likely successors to CEO Maurice Greenberg, 76. Investors have long worried about who'll replace Greenberg, who has run the insurer almost single-handedly for 35 years. AIG has been criticized for little openness in its management.

U.S. banks curb corporate loans

Citigroup, J.P. Morgan Chase, BofA and others lent companies $1.02 tril in Q1, down 7.4% from '01, Bloomberg reported, citing Fed data. Loans slid 6% in Q4. Banks have been cutting corporate loans more than they have in at least 30 years, tightening standards and refusing to finance ...

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