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Download Fallen Giant: The Amazing Story of Hank Greenberg and the by Ron Shelp, Al Ehrbar PDF

By Ron Shelp, Al Ehrbar

A different insider view into the new AIG main issue and Hank GreenbergFor approximately forty years, Maurice ''Hank'' Greenberg was once some of the most strong CEOs in the United States. He outfitted American foreign team (AIG) from a second-rate insurer with a very good chinese language franchise into one of many world's so much ecocnomic businesses. yet occasions have definitely replaced, and now, within the moment variation of Fallen large, writer Ronald Shelp-who labored along Greenberg and in the AIG association for lots of years-with the aid of Al Ehrbar, sheds gentle on either AIG, the corporate, and Hank Greenberg, the man.This totally up-to-date moment variation digs deep to discover the newest advancements for either Greenberg and AIG, similar to the various proceedings underway, together with a felony trial that would ship 5 men-one who nonetheless works for Greenberg-to legal. It additionally chronicles the terrific tale of ways AIG was once rescued by way of the Fed, and why the govt. had no selection within the topic.

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Additional info for Fallen Giant: The Amazing Story of Hank Greenberg and the History of AIG

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It was an emotional moment for Greenberg, other executives present, and those board members who could appreciate the AIG history and the remarkable development of going back to where you were founded over 80 years ago in a country that has been through war with the Japanese, a civil war, the Communist Revolution, and nearly three decades of isolation from the West. C H A P T E R 4 Starr Joins “Wild Bill” Donovan to Fight the Japanese A s Japanese influence increased in the 1930s, and especially after Japan invaded China, Starr began to use his newspapers as vehicles of his own opinion.

Despite a minuscule amount of information compared to today’s insurance company, the business prospered. Within 10 years, Starr had opened offices and agencies across China and in Hong Kong, Indochina, Jakarta, Kuala Lumpur, and the Philippines. Starr was convinced this growth was fueled, at least in part, by his focus on hiring, training, and promoting local people to managerial positions, and putting Chinese people on his board. The practice of putting locals in high positions is still a hallmark of the AIG culture.

AIG still practices it at all levels— from company manager to the public company board. Granted, there are countries, especially in Africa, where often an expat is put in charge, but this is rare. There is simply not a history of significant black participation in the company. A retired senior personnel executive told me that in his experience, insurance had never been one of the industries where African-Americans saw opportunities. And clearly in AIG there was not an aggressive policy of recruiting them.

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