I understand the intention of this article. However, the title is improper, or perhaps even annoying to stockholders of AIG. What is Dupie ‘betting’? He is compensated well and probably fairly for the value he might add to AIG, and that level of compensation is worth the value he may add to AIG in the eyes of the BoD that awarded it. But the title should have somehow clarified that it isn’t Dupie, but rather, AIG stockholders and stakeholders (employees, affiliates, suppliers, etc.) in the bettors category; i.e. it is their investments, businesses, and careers that are being gambled with by Dupie in his AIG recovery/ restoration strategy.
With the above said, I believe Dupie is likely the best person to stabilize and grow AIG. But I would be negligent if I didn’t remind readers that the main reasons for AIG’s downfall in 2008 were: 1. lack of internal controls, especially by those producing & signing AIGs financial statements, i.e. the top 3-5 execs; 2. lack of ethics by some execs, and 3. political meddling by ‘Client #9’.
I understand the intention of this article. However, the title is improper, or perhaps even annoying to stockholders of AIG. What is Dupie ‘betting’? He is compensated well and probably fairly for the value he might add to AIG, and that level of compensation is worth the value he may add to AIG in the eyes of the BoD that awarded it. But the title should have somehow clarified that it isn’t Dupie, but rather, AIG stockholders and stakeholders (employees, affiliates, suppliers, etc.) in the bettors category; i.e. it is their investments, businesses, and careers that are being gambled with by Dupie in his AIG recovery/ restoration strategy.
With the above said, I believe Dupie is likely the best person to stabilize and grow AIG. But I would be negligent if I didn’t remind readers that the main reasons for AIG’s downfall in 2008 were: 1. lack of internal controls, especially by those producing & signing AIGs financial statements, i.e. the top 3-5 execs; 2. lack of ethics by some execs, and 3. political meddling by ‘Client #9’.
Polar, think he was around when the Marsh bid rigging scandal happened?