Wednesday, September 24, 2008

This from Reuters...

This from Reuters. And what's with comment number two? Is he talking about me?

DealZone

Behind the deals and deal-makers

Some AIG employees want former chief executive Maurice “Hank” Greenberg back at the insurer’s helm — at least based on comments scribbled on a portrait painted by artist Geoffrey Raymond.

Dozens of AIG employees signed the portrait — set up across the street from AIG’s Pine Street headquarters on Monday. Among the annotations: “Please, please come back,” and “Trust in Hank.”

Greenberg over a 38-year reign grew AIG from a small, foreign insurer into the world’s largest insurer by market value. He stepped down in 2005 after regulators laid allegations of accounting fraud against him and the company.

Over the last year, massive mortgage losses crippled AIG. It narrowly escaped having to file for bankruptcy last week by accepting a costly government bailout.

The portrait of Greenberg — annotated in blue by AIG employees, and in red by all others — will be sold on eBay.

Raymond’s portraits have become a fixture on the sidelines of the credit crisis. In the midst of Bear Stearns’ 11th-hour takeover by JPMorgan, the artist invited passers-by to scribble comments on a portrait of James Cayne, the bank’s former chairman. And he re-appeared again outside of Lehman Brothers with a portrait of CEO Richard Fuld after the company sought bankruptcy protection.



Some AIG employees want former chief executive Maurice “Hank” Greenberg back at the insurer’s helm — at least based on comments scribbled on a portrait painted by artist Geoffrey Raymond.

Dozens of AIG employees signed the portrait — set up across the street from AIG’s Pine Street headquarters on Monday. Among the annotations: “Please, please come back,” and “Trust in Hank.”

Greenberg over a 38-year reign grew AIG from a small, foreign insurer into the world’s largest insurer by market value. He stepped down in 2005 after regulators laid allegations of accounting fraud against him and the company.

Over the last year, massive mortgage losses crippled AIG. It narrowly escaped having to file for bankruptcy last week by accepting a costly government bailout.

The portrait of Greenberg — annotated in blue by AIG employees, and in red by all others — will be sold on eBay.

Raymond’s portraits have become a fixture on the sidelines of the credit crisis. In the midst of Bear Stearns’ 11th-hour takeover by JPMorgan, the artist invited passers-by to scribble comments on a portrait of James Cayne, the bank’s former chairman. And he re-appeared again outside of Lehman Brothers with a portrait of CEO Richard Fuld after the company sought bankruptcy protection.

3 comments so far

Yesterday’s editorial in the New York Sun should be required reading for anyone interested in the current crisis. BRING BACK HANK!!!!! There is absolutely no constitutional basis for the US government confiscating a privately held corporation. There is a major difference between a LOAN and a TAKEOVER, particularly when there are alternatives out there that have not been explored. Yes, the bridge loan was necessary, but that is where it should have stopped. What happened is absolutely outrageous and a travesty. What is amazing to me is why our Congress is saying nothing. Do they simply not understand????! They’d better start doing some homework - FAST.

- Posted by Mary Teresa

…after shaking hands with this boob, you’ve got to count your fingers

- Posted by basho

[…] Chief Executive Maurice “Hank” Greenberg back at the insurer’s helm? Seems so, reports Reuters’s DealZone. Permalink | Trackback URL: […]


1 Comments:

Blogger Lisbeth said...

Hi Geoffrey: I have been 'googling' you and was delighted to find your blog. I saw your portrait of Fuld in a local paper here (Brisbane, Australia) and was fascinated by your painting style. I think it is genius. Have you had exhibitions? Brilliant work. Inspiring for me as a painter too. Thank you. Best wishes - Lisbeth

11:50 PM  

Post a Comment

Links to this post:

Create a Link

<< Home