By Maurice R. Greenberg, Lawrence A. Cunningham
The AIG Story first chronicles the origins of the corporate and its relentless pioneering of open markets all over the international from 1970 to 2005. It then explores how the corporate faltered after it followed a one-size-fits-all company governance constitution that became the corporate the wrong way up and placed it on the heart of the 2008 monetary challenge the place the specialists seized upon it as either scapegoat and approach to the challenge. Produced in accordance with a mixture of co-author Hank Greenberg's own involvement and the craftsmanship and goal writing of Professor Lawrence Cunningham, this book:
- Corrects common misconceptions approximately AIG that arose as a result of its position on the heart of the monetary challenge of 2008.
- Portrays one of the enduring companies of the 20 th century which built shut relationships with the various most vital global leaders of the interval and helped to open markets everywhere.
- Opens new critical point of view on battles with N. Y. legal professional normal Eliot Spitzer and the 2008 U.S. govt seizure of AIG amid the monetary crisis.
- Shares exclusive information publicly for the 1st time.
The AIG tale captures a powerful saga in enterprise history--one of innovation, imaginative and prescient and management at an organization that used to be virtually destroyed with a number of strokes of governmental pens. The AIG Story carries important classes and implications for the united states, specifically its position in overseas affairs, its method of enterprise, its criminal process and its dealing with of economic crises.
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Extra info for The AIG Story
Greenberg improved on that legacy, tirelessly touring the area within the period sooner than globalization to open new markets for AIG. In an interview for this booklet, Charlene Barshefsky, the previous U. S. alternate consultant, quipped that “Greenberg traveled extra and knew extra international dignitaries than approximately any U. S. secretary of nation. ”11 while requested in an interview for this ebook to remark, former secretary of country Henry Kissinger acknowledged: “I concur and that i will be between his opponents. ”12 Notes 1. touch (November/December 2002): eleven. 2. Founding AIG IAB participants in 1981 (and their years of carrier) integrated: Kenneth H. J. Clarke (1981–1987); Yuet-Keung Kan (1981–1995); Baron Leon Lambert, (1981–1987); Hong-koo Lee (1981–1987) (a Korean student who served as South Korea’s minister of nationwide unification and best minister); Aritoshi Soejim (1981–1989); Edwin Stopper (1981–1987); and Washington Sycip (1981–1996) (a Chinese-Filipino accountant, founding father of the Asian Institute of administration, and chairman of the distinguished Filipino expert companies enterprise, Sycip Gorres Velayo). through the years, Greenberg further to the IAB such vigorous internationalists as Lord James previous, who have been a deputy secretary of country within the uk, chairman of England’s basic electrical corporation, and chancellor of Oxford college; Dr. Pierre Languetin, former chairman of the Governing Board of the Swiss nationwide financial institution; Otto Graf Lambsdorff, an influential German political determine and economist; and Jacques de Larosière, adviser to the French financial institution, BNP Paribas, and wonderful head of the area financial institution for a few years. three. See “Baron Leon Lambert; Banker accumulated Art,” ny occasions (June 1, 1987). four. “Tata AIG chance administration providers Ltd. is shaped in India,” touch (November/December 1998): three. five. See Guaazardi, Grose, et al. , “Worth the Risk,” chap. 15, p. 12. 6. these kind of firms are mentioned additional in bankruptcy sixteen. 7. Cunningham interview with Peter G. Peterson, manhattan, November four, 2011. eight. Cunningham interview with Dimitri Simes, Washington, January 24, 2012. nine. in additional contemporary years, Greenberg grew to become an energetic member of the board of BENS—Business Executives for nationwide protection. 10. See Thomas J. Neff and James M. Citrin, classes from the pinnacle (New York: foreign money Doubleday, 1999), 161 (quoting Greenberg). eleven. Cunningham interview with Charlene Barshefsky, Washington, August 31, 2011. 12. Cunningham interview with Henry A. Kissinger, long island, December 6, 2011. bankruptcy 6 elevating the Iron Curtain In March 1968, the vital Intelligence enterprise (CIA) figured out that the Soviet Union’s army had misplaced a nuclear submarine, the K-129, within the Pacific Ocean approximately 750 miles northwest of Hawaii. The Soviets didn't comprehend precisely the place the sub was once, however the americans did. The K-129 carried nuclear guns, codebooks, cryptology, and different Soviet technological secrets and techniques of significant price to the yankee aspect within the chilly battle. The CIA devised a covert operation to retrieve the sunken sub and its helpful shipment from the mattress of the Pacific, 15,000 toes deep.
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