Word: plan
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...late 1960s and taken public, Starr was given hundreds of millions of shares of the new company. Controlled by AIG executives, Starr was given the shares as a defense against hostile takeovers of the insurance giant. Five years later, Starr set up the disputed long-term compensation plan that for many years rewarded AIG executives from Starr's trove of company stock when the insurer's profits increased...
...accounting scandal that led to Greenberg's AIG exit or anything related to the insurance company's recent financial troubles, which resulted in a huge government bailout. Excluding the circumstances of Greenberg's exit may make it hard for AIG to prove that he ended Starr's AIG compensation plan because he was angry he had lost...
...During the trial, Wells, the AIG lawyer, played a video of a speech Greenberg made in 1996 to top AIG executives who had received shares through Starr's compensation plan. Wells asked Greenberg to raise his hand at the point when, during his videotaped explanation of the program, he stated that Starr had the right to cancel the plan and use its AIG shares for other purposes. The speech ran more than six minutes. Greenberg never raised his hand...
...people awaiting buyouts make a down payment on another home. Residents are also thankful for the hard labor of countless volunteers. And in March, Cedar Rapids voters approved a local-option sales tax expected to produce $17 million a year to be used for buyouts. But the city's plan to improve flood protection, redevelop the riverfront and rebuild public facilities remains a concern for some. It includes buying out flood-damaged homes in the flood plain to make way for green space, flood walls and levees. "The city didn't look after their people," says Frank King, a neighborhood...
...close as possible to what they expect to see in the finished product. However, the HELP Committee will begin its work with one that is missing many of its central components. Among the contentious items still to be worked out are the shape of a government-run public health plan to compete with private insurance and an expected requirement that nearly every employer provide health coverage for its workers...