Word: greenbergs
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Dates: during 2000-2009
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...Maurice "Hank" Greenberg, in their latest legal fight, seem both to be hoping that they can convince a judge and a jury that the ends justify the means, and perhaps also that they are the nicer of the two parties...
...insurance company and its former CEO head to court on Monday in a tussle over who should be allowed to keep hundreds of millions of shares of AIG that Greenberg and a company he controls, Starr International, took when he left his former employer. AIG says those shares and the more than $4 billion in profits Starr International has reaped from past stock sales are the property of the insurer and its employees. But rather than fight over the merits of the case, both sides have spent the past few weeks arguing that they should win because what they plan...
...Last week, AIG for the first time said that if it wins it plans to use the money to pay back taxpayers (AIG has received more than $170 billion in government assistance). Previously, the company had suggested that the missing shares should be used to compensate employees. Greenberg's Starr, for its part, has recently been beefing up its credentials as a charity. In the past few weeks, Starr has given out $1.5 million to antihunger and homeless causes in the New York City area. Starr is owned by a nonprofit (thus, it thinks of itself as a charity...
...complicated case stems from the departure of Greenberg in 2005, when he was ousted from AIG, a company he ran for 37 years, amid an accounting scandal. While the case gets at the wacky bonuses and compensation structure present at AIG for years, the facts of it predates the mortgage mess and the company's current troubles...
...bigger question is, Why have colleges started posting all this stuff at no charge? "Schools have always wanted to have their own area where they could be among their peer institutions and help with the discovery of their content," says Obadiah Greenberg, who leads the project at YouTube...