Business Digest

AIG posts profit, but shares dip

AIG said Friday it was profitable for the second straight quarter as its core insurance operations continued to stabilize after the government bailout of the company last year. Net income was $92 million in the three months ended Sept. 30, compared with a loss of $24.47 billion, or $181.02 per share, during the same quarter last year. The results were lifted by investments. CEO Robert Benmosche warned that earnings would remain choppy as restructuring continues. AIG’s shares closed Friday at $35.48, down $3.80 or 9.7 percent.

Stimulus cash aids expansions

Sen. Ben Nelson, D-Neb., said Friday that two Nebraska businesses are expanding operations thanks to more than $6.6 million in guaranteed loans. The federal stimulus funds are being disbursed by the USDA. Agriculture Secretary Tom Vilsack said 12 businesses nationwide will receive $56.2 million in loan guarantees through the program. Adams Bank in Imperial, Neb., received guarantees for a $5.7 million loan to allow Allo Communications to expand telephone, Internet, and video services to residential customers. State Bank of Table Rock’s office in Pawnee City, Neb., won guarantees for a $93,600 loan to Schilling Bridge Winery & Microbrewery in Pawnee City for bottling equipment.

— From staff and wire reports