File photo maurice hank greenberg, former chairman of american international group inc. Greenbergs ouster in 2005, aig made the disastrous mortgage bets that drove it into the arms of the feds. Cunninghamalso offers a fascinating company history and an account of how, after mr. And in his spare time, he cowrote a book, the aig story, published in 20. Al ehrbar author ronald shelp, who worked alongside maurice greenberg and within the american international group for many years, sheds light on both aig, the company, and greenberg, the man. Hank greenberg admits to aig sham and settles fraud suit. Greenberg, the deposed chairman of the american international group and the subject of his fallen giant. The aig story is really hank greenberg s story, told from the very heart of events and carrying important lessons and implications for the u. It is a memoir about hank greenberg who was the first jewish baseball player to be inducted into the hall of fame. A former counsel to the new york state attorney general, general counsel to a major new york state agency and federal prosecutor, hank. Selected as one of motley fools 5 great books you should read in the aig story, the companys longterm ceo hank greenberg 1967 to 2005 and gw. Greenberg, also known as hank, is just one in a line of disgraced chief executives from the mid2000s who resorted to. Aig, the company he ran for 37 years, were little known by anyone outside the insurance industry or wall street until march 2005, when greenberg was asked by his board to resign after running afoul of eliot spitzer, at the time new yorks crusading attorney general. They regale readers with riveting vignettes of how aig grew from a modest group of insurance enterprises in 1970 to the largest insurance company in world history.
All hank greenberg ever wanted was an unfair advantage. Jun 19, 20 greenberg won the suits against himself. The pugnacious former ceo told congress that their bailout plan for aig was a failure and that the companys implosion wasnt his fault in the first place. A unique insider view into the recent aig crisis and hank greenberg. Disbelief consumed the insurance world when the board of american international group aig forced out hank greenberg in march 2005. Greenberg was a chairman and ceo for the american international group with 11 videos in the cspan video library.
Hank greenberg is challenging the governments crisisera bailout of american international group, the company he built into a global financialservices powerhouse. He tells michael loney his plans for cv starr, what is wrong at his old firm and why retirement is not an option. The aig story is really hank greenbergs story, told from the very heart of events and carrying important lessons and implications for the u. Members of the seven strong judging panel will decide on a shortlist of up to six finalists in the middle of september. Business insurance the aig story is well documented, telling of how the company virtually collapsed and greenberg was pushed out of leadership. Hank greenberg serves as president of the new york state bar association, the largest voluntary state bar association in the nation. Greenbergs aig case is intriguing, but doomed thestreet. Aig went through several eras, some of which are barely covered by this book. Hank greenberg, the former head of insurance giant aig, is both a controversial and monumental figure in the business world. Buttimes have certainly changed, and now, in the second editionof fallen. Selected as one of motley fools 5 great books you should read in the aig story, the companys longterm ceo hank greenberg 1967 to. Well hank, thank you for coming by and talking about your book, the aig.
The aig story wiley online books wiley online library. The aig story is well documented, telling of how the company virtually collapsed after greenberg was pushed out of leadership. Facing an accounting scandal, with accusations that aig had boosted reserves through a sham reinsurance deal, and under pressure from. Mar 21, 20 part 1 of 2 steve forbes interviews former aig chief maurice r. A former counsel to the new york state attorney general, general counsel to a major new york state agency and federal prosecutor, hank has handled numerous highprofile matters. Feb 10, 2017 maurice hank greenberg, the former chief executive of american international group aig, is admitting to fraud under a settlement of a longrunning lawsuit against the insurance giant. Hank greenberg on china, iran and soviet minders cnbc. In his new book, the aig story, former chief executive maurice hank greenberg offers his take on what kept the company alive.
Maurice raymond hank greenberg born may 4, 1925 is an american business executive and former chairman and chief executive officer of american international group aig, which was the worlds 18th largest public company and the largest insurance and financial services corporation in history. Selected as one of motley fool s 5 great books you should read in the aig story, the companys longterm ceo hank greenberg 1967 to 2005 and gw professor and corporate governance expert lawrence cunningham chronicle the origins of the company and its relentless pioneering of open markets everywhere in the world. Hankus spankus, the home run king and hall of famer. An interview with former aig ceo hank greenberg the. Jan 28, 20 in his new book, the aig story, former chief executive maurice hank greenberg offers his take on what kept the company alive. Greenbergs ouster in 2005, aig made the disastrous mortgage bets that drove it. The rise and fall of american international group aig is synonymous with the rise and fall of maurice hank greenberg, its founder and former chief executive officer ceo. Aug 31, 2009 all hank greenberg ever wanted was an unfair advantage. The narrative is written in a style that is understandable. Read cnn s fast facts about former aig chief executive officer maurice hank greenberg. He was jewish, and had two brothers, ben, four years older, and joe, five years younger, who also played baseball, and a sister, lillian, two years older.
Ethan harvey do you adore baseball and love inspiring stories. It was never as good as proponents of its past have said. He built american internationalgroup aig from a secondrate insurer with a great chinesefranchise into one of the worlds most profitable companies. In 1962 greenberg was named by aigs founder, cornelius vander starr, as the head of aigs north. A unique insider view into the recent aig crisis and hankgreenbergfor nearly 40 years, maurice hank greenberg was one of themost powerful ceos in america. An interview with former aig ceo hank greenberg the motley fool. The amazing story of hank greenberg and the history.
Greenbergs career is chronicled in the 2006 book fallen giant. Exceeded rookie limits during 1933 season full name. But it was not as bad as current detractors allege. Part 1 of 2 steve forbes interviews former aig chief maurice r. The value in rons book is his personal perspective of the sweep of the story. The life and times of an american legend the best and most important biography ever written about. The amazing story of hank greenberg and the history of a. Greenberg about building the largest insurer in the history of mankind, and delves into his early work with political leaders. Greenbergs aig case is intriguing, but doomed former aig boss hank greenberg argues the government stole his company in 2008, but the story isnt as simple as hed like. Feb 19, 20 selected as one of motley fool s 5 great books you should read in the aig story, the companys longterm ceo hank greenberg 1967 to 2005 and gw professor and corporate governance expert lawrence cunningham chronicle the origins of the company and its relentless pioneering of open markets everywhere in the world. May 29, 2007 maurice hank greenberg and american international group inc. Eliot spitzers battle with former aig ceo maurice greenberg.
Greenberg transformed a loose collection of international insurance companies into the largest insurance company in history p. Maurice hank greenberg and american international group inc. The aig story is well written and, despite not being a business person, i found it very informative about the insurance business and how a successful company is made. After 12 years, exaig chief greenberg settles accounting. Hank greenbergalong with his co author, lawrence a. Apparently, all a company has to do to declare itself in its centennial year is. May 01, 2015 hank greenberg still in the ring at 90, battling a. Aig in the greenberg era and the time thereafter did deserve to be punished with chapter 11, not coddled with a bailout and tax incentives. Shelp, a former greenberg lieutenant and troubleshooter at a. View hank greenberg s page at the baseball hall of fame plaque, photos, videos.
That is the phrase that ron shelp chooses to sum up maurice r. Hank greenberg the best baseball book i have ever read. American international group, incorporated aig is in the process of declaring itself to be 100 years old, even though its founder, hank greenberg, is only 93 years old and founded the company in 1967. His new book, the aig story, chronicles the rise and growth of aig.
But the mismanagement of american international group inc nyse. May 27, 2015 greenbergs own book gets biblical when it says his wrath befell those who delayed or deceived. Greenbergs own book gets biblical when it says his wrath befell those who delayed or deceived. A unique insider view into the recent aig crisis and hank greenberg for nearly 40 years, maurice hank greenberg was one of the most powerful ceos in america. Hank greenberg was born hyman greenberg on january 1, 1911, in greenwich village, new york city, to romanianborn jewish immigrant parents david and sarah greenberg, who owned a successful clothshrinking plant in new york. He built american international group aig from a secondrate insurer with a great chinese franchise into one. Maurice hank greenberg, the former chief executive of american international group aig, is admitting to fraud under a settlement of a longrunning lawsuit against the insurance giant. The book has much information to share with financial leaders to help grow a business and to protect a company during periods of economic downturns. Greenbergs admission is part of a settlement of the highprofile fraud suit brought in 2005 by thenattorney general eliot spitzer. Maurice raymond hank greenberg born may 4, 1925 is an american business executive. Hank greenberg, former aig ceo, admits culpability in. I loved the writing, the flow, the toughness hankus pankus showed, his devotion to his religion and to his friends. In a shocking end to a nearly 12year legal battle, insurance industry legend maurice hank greenberg on friday admitted he initiated, participated in and approved two sham transactions. Five years after the epic collapse of american international group.
Greenberg, the often combative former chief executive of american international group, began a news media counteroffensive on monday to repair his legacy days after the bruising end to. Hank greenberg was a professional, a great person, and o yea, he was jewish. In another blow to aigs 92year old former ceo, a federal appeals court on tuesday threw out an earlier ruling that the us government had. The book also paints a clear picture of the harddriving, profitcentered corporate culture mr. Hank greenberg s firsthand experience at aig, combined with cunninghams additional research and interviews. The hero of heroes rosengren pens a textured taleof henry greenberg, the moses of baseball. Understandably, most media coverage of his new book. Hank greenberg still in the ring at 90, battling a. They regale readers with riveting vignettes of how aig grew from a modest group of insurance. Rons tale of hank greenberg and aig is a rare opportunity for a personal look inside the history of an american and global business legend. Larry tye, new york times bestselling author of satchel. He was inducted into the baseball hall of fame in 1956.
The amazing story of hank greenberg and the history of aig 2nd by shelp, ronald, ehrbar, al isbn. Understandably, most media coverage of his new book the aig story. Greenberg, the often combative former chief executive of american international group, began a news media counteroffensive. In fallen giant, author ron shelpwho worked within the aig organization for more than a decadesheds light on aig, the company, and hank greenberg, the man. Hank greenberg, american professional baseball player who, as one of the games best hitters, won two american league mvp awards 1935, 1940 and became the sports first jewish superstar.
It was saved only by the loyalty and tenacity of its. It takes place mostly in the poor parts of new york and detroit. Hank greenberg s life since being forced to leave aig has remained heavily linked to his old firm. In the aig story, the companys longterm ceo hank greenberg 1967 to 2005 and gw professor and corporate governance expert lawrence cunningham chronicle the origins of the company and its relentless pioneering of open markets everywhere in the world. Hank greenbergs firsthand experience at aig, combined with cunninghams additional research and interviews. Well hank, thank you for coming by and talking about your book, the aig story, and a heck of a story it is. He is also mentioned in the book all the devils are here.
In his new book, the aig story, the man who ran the worlds largest insurer, maurice hank greenberg settles scores with the u. Apr 23, 20 greenbergs aig case is intriguing, but doomed former aig boss hank greenberg argues the government stole his company in 2008, but the story isnt as simple as hed like. The aig story selected as one of motley fools 5 great books you should readin the aig story, the companys longterm ceo hank greenberg 1967 to 2005 and gw professor and corporate governance expert lawrence cunningham chronicle the origins of the company and its relentless pioneering of open markets everywhere in the world. May 15, 20 read cnn s fast facts about former aig chief executive officer maurice hank greenberg. May 09, 2017 maurice hank greenberg is on a losing streak. Not another selfserving business biography or dry corporate history, the aig story is a business adventure.
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