Monday, August 31, 2009


Time to get tough with AIG

It’s time for someone in the Obama administration to read the riot act to Robert Benmosche, American International Group’s new $7 million chief executive... Since getting the job, Benmosche has spent more time at his lavish Croatian villa on the Adriatic coast than at the troubled insurer’s corporate offices in New York.

And in the short term, Benmosche’s vacation strategy appears to be paying dividends... This week, AIG’s shares surged 44 percent, to nearly $50, after Benmosche said that he intended to move slower than his predecessor in selling off AIG’s still viable divisions... Maybe Benmosche should consider relocating AIG’s headquarters to Dubrovnik...

Reuters: Time to get tough with AIG

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