Word: gen
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...board thought it best to stop antagonizing regulators and pushed Greenberg, who will turn 80 in May, to resign. Otherwise he might have survived the mess, which centers on a deal that AIG cut with General Re, a company that insures insurers. Investigators say AIG bought insurance from Gen Re and accounted for it in a way that overstated revenue...
...says. And if Greenberg misled investors intentionally, it would be fraud. But most believe he was swallowed by the shifting sand. Ethical lapses that regulators all but ignored yesterday now get their full attention--which should give executives everywhere pause. Even squeaky-clean Warren Buffett, whose Berkshire Hathaway owns Gen Re, has been sullied. Buffett is not under investigation, but TIME has learned he will be interviewed by Spitzer's office in coming weeks. AIG and Buffett's office declined to comment...
...picking up momentum: last week the Pentagon announced plans to trim the number of U.S. troops in Iraq from 150,000 to 105,000 by early next year, a move that reflects the improved capabilities of the Iraqi forces. The top commander of U.S. ground forces in Iraq, Lt. Gen. John R. Vines, said that "very much sooner rather than later, Iraq will be able to provide for its own security...
...start with the Curricular Review, which the Faculty has to pass after the committees finish their work. The latest news from the Curricular Review front concerns the General Education Committee. Its initial recommendations, which Summers had a large hand in producing, fell flat. Indeed, after the dismal reception Gen Ed got, the sense among faculty now is that large portions of the Review will simply fail...
...this one, the Faculty has some very good reasons to be skeptical. Gen Ed’s recommendations were at best uninspiring and clumsy—like changing the Core to a system of distribution requirements and ill-defined “Harvard College Courses”—and at worst of dubious educational value—like requiring students to have an “international experience” before graduating. If other committees’ less-than-stellar recommendations get the treatment Gen Ed’s have gotten—and, given the Faculty?...