July 13, 2009
AIG Bonus Fund Stays in Foundation
Some years ago, Starr International Company was created, its assets used primarily to pay bonuses to employees of AIG. The boards of the two companies - AIG and Starr - were the same, and Maurice R. Greenberg headed both companies. IN 2005 Greenberg was forced out of AIG, and shortly therefore he ended the bonus plan. In 2006 the assets of Starr International Company were transferred to Star International Foundation, which now owns Starr International Company. The Foundation makes charitable grants and has made over $27 million in grants since it was created.
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