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Journal8 - lengths to revive morale of AIG's employees...

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Daniel Yoon K21 Professor Reaves Intro to Business 10/23/10 AIG Succession Plan Taps Chairman Miller URL: http://online.wsj.com/article/SB10001424052702303443904575578812776010290.html? mod=WSJ_mgmt_LeftTopNews AIG, American Internation Group Inc. has decided to promote Chairman Robert Miller should the company’s current CEO, Robert Benmosche, step down due to his illness. However If Mr. Benmosche has to stop working, AIG's overseers worry, it would be a setback to AIG's restructuring and could delay the company's plans to extricate itself from government ownership. Since joining AIG in August 2009, Mr. Benmosche has gone to
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Unformatted text preview: lengths to revive morale of AIG's employees, tighten internal controls and put the company on a path toward financing independence. AIG recently outlined a strategy to repay more than $90 billion of assistance from the Federal Reserve Bank of New York and Treasury Department over the next few years. About $45 billion is to be repaid with proceeds from AIG asset sales, and the rest is to be recouped when the Treasury sells down what will be its 92% ownership stake in AIG into the market...
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