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...potential indictments--not insurance--front of mind. But the man who over four decades built and ran American International Group, the global insurance giant, is as focused as ever. He still manages two AIG offshoots, Starr International and C.V. Starr, investment firms that control billions of dollars of AIG stock. He's a regular on the Manhattan dinner circuit, where society's glitterati greet him warmly. He works out daily with the same discipline that guided his long career. The only thing that's changed is the way the 80-year-old does his daily push-ups: using a "slow...
...lady friend, as was the case in London, is one thing. But now Greenberg faces serious charges of cutting corners to make AIG's financial might appear greater than reality, and in so doing ripping off shareholders who have lost nearly $50 billion in the value of their stock since Spitzer served the first subpoena. In Spitzer's suit, he alleges that AIG, through bogus transactions, inflated the reserves it keeps to pay claims by hundreds of millions of dollars; that Greenberg repeatedly directed AIG traders late in the day to buy AIG shares to prop up its price...
Today AIG operates in 130 countries, has a stock-market value of $143 billion and nearly $100 billion of annual revenue. It's had a staggering transformation from the obscure firm that Greenberg took command of in 1967 and took public two years later with just $13 million of annual profit--a figure that swelled to $11 billion by last year. While building AIG in the 1970s and '80s, Greenberg often was the only foreigner in sight in politically combustible countries like Romania, Iran, Vietnam and other parts of the Far East, and would draw a curious crowd just crossing...
...losses, along with four other executives; in Singapore. The company, which enjoys a monopoly on buying fuel on the world market and selling it to customers in mainland China, lost $550 million last year speculating in derivatives linked to oil prices. According to an investigation commissioned by the Singapore stock exchange, Chen and his top executives concealed the losses from investors for much of last year...
...Percentage increase in the share price of General Motors' stock on the day following the announcement...