AIG: American Int'l Group, Inc Message Board

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Non-Tech : AIG: American Int'l Group, Inc

AIG 85.59

-0.6%

Dec 31 3:59 PM EST

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From: mlkr	9/25/2008 2:15:06 PM
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GREENBERG DOWN FROM 20 B TO 1 BILLION NOW WANTS TO SELL HIS SHARES! By Reuters \| 25 Sep 2008 \| 02:02 PM ET Former American International Group CEO Maurice "Hank" Greenberg intends to sell his AIG stock, according to a regulatory filing on Thursday. Greenberg, who ran AIG for nearly four decades, said he will sell stock in the open market, and that the sales may "materially" decrease the holdings that he controls, according to the filing with the U.S. Securities and Exchange Commission. Greenberg, through a personal stake, family trust and companies that he controls, owns roughly 11 percent of AIG's stock, making him its largest shareholder before AIG agreed to a federal bailout that will give government 80 percent ownership. Greenberg's spokesman was not immediately available for further comment. The block of stock that Greenberg controls has shrunk dramatically in value—from roughly $20 billion when he left the insurer in 2005 to about $1 billion, based on Wednesday's closing price of $3.31 a share.

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