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May 12, 2008 / 5:20 PM

Former executive says AIG is in crisis

NEW YORK, May 12 (UPI) -- The head of American International Group's largest shareholder group and former company chief executive Maurice Greenberg said AIG is in crisis.

In a letter filed with the U.S. Securities and Exchange Commission, Greenberg, who left AIG in 2005 during an investigation into the company's accounting practices, asked that the insurer consider postponing its annual meeting, which is scheduled for Wednesday, The Wall Street Journal reported Monday.

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AIG said it plans to raise $12.5 billion after recording first quarter losses of $7.8 billion. AIG said it forwarded Greenberg's letter to board members.

The letter cites "a complete loss of credibility with the investment community," the Journal reported.

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Maurice Greenberg

Austin visits Ukraine, voices U.S. support against Russian aggression

Defense News // 2 years ago

Austin visits Ukraine, voices U.S. support against Russian aggression

Oct. 19 (UPI) -- U.S. Defense Secretary Lloyd Austin said Ukraine continues to have U.S. support against Russian aggression and is free to decide its own foreign policy during a visit to Kyiv Tuesday.

Citing Russian occupation, U.S. signs new defense pact with Georgia

Defense News // 2 years ago

Citing Russian occupation, U.S. signs new defense pact with Georgia

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Pentagon orders all civilian employees to be fully vaccinated by Nov. 22

Defense News // 2 years ago

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Defense News // 2 years ago

Army investigating suspected suicides of three Fort Drum soldiers

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Defense News // 2 years ago

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South Korean firm to supply rapid COVID-19 test kits to U.S. military

Defense News // 2 years ago

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Defense News // 2 years ago

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Defense News // 2 years ago

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Defense News // 2 years ago

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U.S. Space Force to take over SATCOM operations from Army, Navy

Defense News // 2 years ago

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