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What is going on? Insider/Insider Trading? Why is Greenberg Former CEO of AIG selling his 12.9 million shares in one go?
Why is the former CEO of AIG selling all his 12.9 million shares in one package to a company he controls? What does he know, others do not? He is selling it to Starr International which has 205.8 million shares of AIG already. Hank Greenberg controls the company and those who are lucky enough to be part of the "elite" group of Starr International (about 80 people) are the "elite" of the world, but they never dare question what Hank Greenberg does. Greenberg ran AIG for 37 years. Why would he sell his shares to a corporation? Is it so exposure to a bankrupcy is lessened, by the stocks being under a corporation? I find this interesting, I would also bet, Greenberg will never be investigated by the SEC for insider trading either, since the SEC has seemed to let companies go unchecked (Madoff etc), though they have known irregular trades have gone on in the past.
I wonder if Greenberg was part of the Bilderberg meeting which just happened in Greece?
I also wonder what some of the Bilderberg people are doing in their financial dealings, are many of them moving assets and selling stocks as Greenberg is doing?
To me, this means something is coming down the line in the near future which will not go over well for the public as a whole. Are all the elite getting rid of their stocks in companies?
People need to be aware of what the "elite" are doing, to basically follow their lead, as they know and control events that are happening.
In an annual ritual, an elite group of executives and retirees of insurance behemoth American International Group, Inc. files into a giant boardroom here, some traveling from as far away as Japan or Europe. They each pick up an envelope with their name on the front and a single sheet of paper inside.
It's a two-line entry: how many preferred shares the recipient got that year in a private partnership called C.V. Starr & Co. that invests money for favored AIG executives -- and how much their previous stake's value climbed in the year. The chairman of C.V. Starr, Maurice R. "Hank" Greenberg, usually gives a quick update of the business, an insurance agency launched decades ago by AIG's founder, Cornelius Vander Starr
So, let me tie this all together for you. The shares once held by AIG founder Cornelius Van Der Starr were purchased by Starr International and related companies (SICO). SICO is the holding company for the assets held in trust by the Starr Trust and C.V. Starr and Trust, Inc. If you get picked to be a beneficiary of the Starr Trust, you have a retirement payout worth millions or billions. Not only that, but who becomes a beneficiary, and the amount by which one benefits, seems to be somewhat arbitrary. That allows those who control SICO and the Trust a lot of discretion to move money around.
So, while the press and the President were howling about bonus payments worth hundreds of thousands of dollars, or maybe millions, the members of the club, that group of "insider" insiders beholden to the Starr trusts, were on the receiving end of many millions, and maybe billions.
I wonder if they had a good laugh
Now, Greenberg is moving to consolidate all the AIG shares he controls into a single vehicle, Starr International Co. Is he preparing for a bankruptcy play? Some sort of proxy fight? Is he using the assets of Starr International to cash out at a supported price? The deal guarantees him the greater of $1.25 per share price or the closing price on the day immediately prior to the day of the sale.
One thing is for sure, nobody moves this many shares and this much money around just for the heck of it.