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MetLife seals Alico deal after two-year quest (Reuters)

A statue stands atop Grand Central Station in front of the MetLife building in New York, October 8, 2008. REUTERS/Lucas JacksonReuters - MetLife Inc pursued AIG's foreign life insurance business for two years before finally clinching a $15.5 billion purchase that will give it beachheads in 47 nations from Peru to Bangladesh.


Summary Box: AIG's $15.5B Alico sale to MetLife (AP)
AP - THE SALE: American International Group Inc. sold its American Life Insurance Co. division, or Alico, to MetLife Inc. for $15.5 billion. The deal is AIG's second big asset sale in two weeks. On March 1, it said it would sell its AIA Group unit to Prudential PLC for $35.5 billion.

Management Education on the Fly (BusinessWeek)
BusinessWeek - Who got us into this mess? It's not just greedy mortgage lenders and irresponsible economists who are responsible for the current financial crisis. Leaders, so called, have played a role too, by not managing their companies and so being detached from what was going on in them. And behind much of this has been an educational process that encouraged such detachment. As I've argued at length in my book, Managers not MBAs, the MBA is fine education -- but in the functions of business, not the exercise of managing. ...

AIG to get $231M if sale of Asian unit crumbles (AP)
AP - American International Group Inc. will receive a termination fee of $230.6 million if the sale of its Asian life insurance business to Britain's Prudential PLC falls through.

Home loan demand nudge higher in latest week (Reuters)

An arrow points down in the window of a branch of Northern Rock in London March 10, 2010.    Nationalised mortgage lender Northern Rock's headline losses shrank in 2009, helped by rising net interest income and lower loan losses in the second half, though it said loan writedowns would stay high in 2010.       REUTERS/Luke MacGregor   (BRITAIN - Tags: BUSINESS) POLITICS)Reuters - U.S. mortgage applications nudged up last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.


Lawmaker is working to improve loan modifications (AP)
AP - A key lawmaker is working with banks, regulators and the Obama administration on a new way to boost the government's struggling foreclosure prevention effort by encouraging banks to reduce the total amount borrowers owe.

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