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...says it has written more than 81 million life-insurance policies, with a face value of $1.9 trillion. It covers roughly 180,000 small businesses and other corporate entities, which employ approximately 106 million people. That makes AIG America's largest life and health insurer; second largest in property and casualty. Through its aircraft-leasing subsidiary, AIG owns more than 950 airline jets. Just for good measure, AIG is a huge provider of insurance to U.S. municipalities, pension funds and other public and private bodies through guaranteed investment contracts and other products that protect participants in 401(k) plans...
...full, which strikes some as a scandal way bigger than the bonus payouts. Many experts wondered why AIG paid 100 cents on the dollar. Among the biggest beneficiaries of the AIG pass-through, at $12.9 billion, was Goldman Sachs, the investment-banking house that has been the single largest supplier of financial talent to the government. Critics have been quick to note - and not favorably - the almost uncanny influence of former Goldman executives. Initial phases of the rescue were orchestrated by ex-Goldman chairman Hank Paulson, who was recruited as Treasury Secretary in part by former White House chief...
Roche recently bought Genentech (DNA), a company in which it was already the largest shareholder. That deal was not just about firing. Biotech operations like Genentech are the next generation of pharma companies. Roche wants in on that action. It had the tremendous advantage of only having to buy part of the shares in Genentech. Aside from getting customers and new products, Roche got control of the whole company and merely had to acquire 44% of the shares...
...plan for a new deepwater port in Arakan where ships laden with Middle Eastern oil can dock and disgorge their valuable cargo, gives China an alternative to the expensive and sometimes dangerous Strait of Malacca by directly supplying energy to its landlocked west. The Shwe project is Burma's largest ever foreign-investment commitment. (The second largest is the Yadana pipeline to Thailand.) Though Arakan sits on the country's biggest oil and natural-gas fields, Sittwe only gets three hours of electricity a day. The town boasts an "e-library" located in a government building, but all the computers...
...entire current electricity capacity, are being jointly developed by state-owned Chinese companies and a Burmese firm, Asia World, whose managing director was the target of U.S. sanctions last year. China will receive most - if not all - the generated power, leaving the Kachin people literally in the dark. The largest dam will be at Myitsone, where two rivers meet to become the mighty Irrawaddy. Chinese engineers and ethnic Burmese workers are already on-site. "All we can do is pray that the dam doesn't get built," says Nlam Brang Nu, the Baptist pastor of Tang Hpre village, which will...