Sen. Barack Obama on Monday proposed spending billions to revitalize the nation's economy, a plan the campaign of his likely Republican opponent said would slow economic growth with higher taxes.
AIG's board had been quietly talking to Bob Willumstad about replacing Sullivan as CEO. But he had qualms about accepting what is clearly one of the toughest CEO jobs in the Fortune 500.
Oil prices briefly spiked more than $5 per barrel to a trading record Monday, but crude tumbled throughout the afternoon as traders took profits after prices couldn't get over the $140 a barrel hump.