Word: greenberg
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Maurice (Hank) Greenberg has said that all he ever wanted in life was "an unfair advantage," an insurance man's credo that propelled American International Group into a global powerhouse. Greenberg grew up with the now infamous company, becoming a world business power who dined with heads of state and influenced international trade policy - until risk caught up to him four years ago. An accounting scandal forced him to step down from his beloved company...
...Here AIG seems an unlikely candidate for the company that could bankrupt the planet. Founded 90 years ago in Shanghai, AIG moved its headquarters to New York City as the world headed toward war in 1939. After Maurice R. (Hank) Greenberg took over in 1967, AIG consolidated its global empire. By the time Greenberg was forced out in an accounting scandal 38 years later, AIG had become one of the world's biggest public companies, with sales of $113 billion in 2006 and 116,000 employees in 130 countries, from France to China...
...rare interview, former CEO Greenberg, who is suing AIG and being sued by the company over financial-management issues, tells TIME that once the company lost its top credit rating, AIG FP should have stopped writing swaps and hedged, or reinsured, its existing ones. But Cassano's unit doubled down after the spring of 2005, writing more and more subprime-linked swaps as the ratings plunged, which made the possible need for collateral enormous in the event its debt was downgraded. The downgrades occurred in 2008. "Of course they were going to run out of money," says Greenberg. He adds...
...which inflicted widespread casualties among Palestinian civilians but failed to defeat Hamas or even stop the group from firing rockets into southern Israel. Nor did the assault manage to free a kidnapped Israeli soldier, Gilad Shalit, trapped inside Gaza for over 2 ½ years. "Nothing's changed," griped Roman Greenberg, a heavyweight boxer whose muscles bulged from within a pro-Lieberman T shirt. "And inside Israel, we had Arabs protesting against the war and waving Hamas flags. How can we accept that...
...film centers on the various members of the Michaelson family. Eli (Alan Rickman) is the cantankerous patriarch, and a Nobel-prize winning chemist; his wife Sarah (Mary Steenburgen) is a long-suffering forensic psychiatrist who has accepted her husband’s wandering eye. Their struggling son, Barkley (Bryan Greenberg), is an immature graduate student still recovering from a recent divorce. When Barkley is kidnapped by Eli’s illegitimate son, Thaddeus James (Shawn Hatosy), his parents begin the difficult process of locating him and paying his ransom.Yet, unbeknownst to the Michaelsons, Barkley joins forces with his half-brother...