Hank Greenberg

AIG, MEET 'AIG TWO' Insuring well may be the best revenge for Maurice "Hank" Greenberg, former CEO of AIG. Greenberg was bounced after an accounting scandal but is still AIG's top shareholder after the U.S. government. On Oct. 27, The New York Times described Greenberg's efforts to build his new company, C.V. Starr, into a complex web of insurers similar to the one he wove at AIG. Greenberg has hired 13 former AIG executives, raising concerns that he will snatch business away from AIG and harm its prospects of returning $121 billion in bailout money. In a statement issued after the Times story appeared, ... Read Full Story

Hank Greenberg wasn't supposed to become a baseball player. Sportswriter Ira Berkow notes that in Greenberg's Bronx neighborhood, Jewish parents wanted their kids to become doctors or lawyers or teachers. One neighbor said Greenberg's mother had nice children. "Too bad one of them has to be a bum," the neighbor added, referring to Greenberg's career choice. Greenberg didn't take the criticism to heart. His fierce determination to be a ballplayer helped him develop into one of the greatest. In an era of blatant anti-Semitism, he became the first Jewish star baseball player. He was elected to the Baseball Hall of Fame in 1956. The ... Read Full Story

Settlement Professionals Inc. (SPI) continues to use outdated "props" to support solicitation to hire the company for lucrative insurance business from plaintiff lawyers. It has dedicated an entire web page to what it calls the AIG "Smoking Gun" memo.  Here are some comments on the memo: The memo is 4 1/2 years old. The management structure of the AIG structured settlement operation has changed in 4 1/2 years. Kharyne Neptune is no longer AIG's National Director of Structured Settlements, Ismael Acevedo is the current director. SPI has apparently neither made an effort to contact Mr. Acevedo nor made an effort to cite the current ... Read Full Story

(NewsVisual, powered by IntellectSpace ) -- As a follow-up to a criminal trial that convicted several defendants in February, the insurance company American International Group (AIG) (NYSE: AIG) filed a lawsuit in civil court for damages against several of it former executives Senior Executives , including the former AIG CEO/Chairman Maurice R. Greenberg , The Wall Street Journal reported. “The defendants are Greenberg, Howard Smith , Edward Matthews , Ernest Stempel , L. Michael Murphy , J ohn Roberts and Houghton Freeman -- all officials of Starr International Co. , which holds a stake in AIG that the company says was solely used to ... Read Full Story

By Lance Winslow For those who study cases in change management, they are often taught about the worst change management disasters in corporate American history. And there are plenty to study. However, there has been quite a bit of a recent history with regard to change management that no one is talking about quite yet. After the subprime mortgage fallout and banking crisis in the United States in 2008, some researchers have backtracked what caused some of this. Believe it or not change management is some of the cause. In fact at AIG, Hank Greenberg, the company's founder was forced to resign from his ... Read Full Story