Monday, March 08, 2010
AIG, once the powerhouse of global insurance firms, continues to shrink. One wonders what the firm is doing to reestablish its relationships with the public other than trying to repay loans from the government. It appears certain that the firm will never again be what it once was -- a fearsome competitor, unstoppable and implacable -- all characteristics of its former CEO. One doesn't need a long memory to recall when reporters feared writing about the company because of what the company might do to their reputations. There was no love between Maurice “Hank” Greenberg and the press. AIG today is more than a shadow but less than a mountain. The company is a reminder that reputations are lost easily in business and are hard to win back.