Word: starrs
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...encomium of his lover's physique: "I love the curves of your hips, the erotic beauty of you holding yourself (or two magnificent parts of yourself) in the faded glow of night's light." Finally a bit of prose that makes us long for the clinical precision of the Starr report. Sanford told reporters the affair had begun "very innocently," which reveals that he still hasn't been honest with himself about the willfulness of his actions. When a married man begins a secret, solicitous correspondence with a beautiful and emotionally needy single woman, he has already begun to cheat...
...Starr's lawyers argue that the case rests on documents that were drawn up in 1970, around the time AIG became a public company; there appears to be no requirement that Starr use the stock as part of an AIG bonus program forever. In fact, the program had to be renewed every two years...
...When Greenberg left AIG in 2005, he took control of Starr and its AIG shares, which at the time totaled 300 million. Starr has since pocketed $4.3 billion from the sale of some of those shares. AIG says those profits belong to the insurance giant, along with the remaining 180 million shares of AIG that Starr still holds, which are worth just over $270 million...
...District Court Judge Jed Rakoff, who is hearing the case, has said he wants to limit the case to the facts surrounding the relationship between Starr and AIG. Rakoff says he will not allow jurors to hear testimony about the 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...