Who is involved in AIG?

I usually write on franchising, but the AIG has lots of ties to franchising that most of you don’t know about.  But see for yourself by clicking on one of the maps below.  Dig deeper but be forewarned, it will make you mad as hell! 

In addition, the bailout monies are being used to pay bonuses to the slugs that ruined our economy.  Just so all of you know who knows who, here’s a map of all of their bedfellows which will amaze you!  (Note the William J. Clinton Foundation is on first level!  Is Billy spending your taxpayer bailout money to further his cause?)

http://www.muckety.com/saved-map/AIG/3558BDD4DB47997E5E17D268EED8EB8F.map

Their other divisions

http://www.muckety.com/saved-map/AiG-Subdivisions/C47E4098FBD4062B66589469C179D23D.map

Their board of directors:

http://www.muckety.com/saved-map/AIG-Directors/AC48489B89648235DFA37BF1CC0F8FB2.map

Their lobbyis is Ogilvy Government Relations = here is Ogilvy’s client list…..

http://www.muckety.com/saved-map/Ogilvy-Lobby-Customers/D99ED1857FEB1AAC9764A07CBD875FCF.map

Find more – drill down and find out how many of these companies are getting your money!!!!!!  If this pisses you off, send a letter to your congress and show them this post. 

Bloody

PS – a listing of the “important people” most likely getting the bonuses you are hearing about…..If they’re your neighbor, go knock and the door and tell them you’re pissed!!!!!!

VP Foreign General Insurance	Alexander R. Baugh
President and CEO, Korea, AIG General Insurance	Brad Bennett
Lead Director	Stephen F. Bollenbach Age 66
Vice Chairman Transition Planning and Chief Administrative Officer; Chairman, HSB	Richard H. Booth Age 61
Managing Director and Head Institutional Sales, Americas, AIG Investments	John T. Boyce
EVP and COO, AIG Domestic Accident and Health	Susan M. Clarke
SVP; Chairman, President, and CEO, AIG Companies in Japan and Korea	Robert W. Clyde
VP and Controller	Joseph D. Cook
Director	Dennis D. Dammerman Age 63
President and CEO Personal Auto	Anthony J. DeSantis
SVP Financial Services; Interim President and CEO Financial Products	William N. Dooley Age 56
SVP and Casualty Actuary	Frank H. Douglas
EVP AIG Property Casualty Group; President, AIG Commercial Insurance Group	John Q. Doyle
President and CEO, Lexington Insurance Company	Peter J. Eastwood
Director	Martin S. Feldstein Age 69
Vice Chairman, Global Economic Strategies	Jacob A. Frenkel Age 64
VP and Treasurer	Robert A. Gender
VP and Director Investor Relations	Charlene M. Hamrah
EVP and COO, AIG Environmental	Kimberly Hanna
President, AIU Accident and Health Division	Jose A. Hernandez
EVP and CFO	David L. Herzog Age 49
SVP and Head, Asset Management Restructuring	Jeffrey J. Hurd
Chairman and CEO, AIG Global Risk Management	Louis P. Iglesias
President and CEO, AIG Environmental	Russell Johnston
SVP and Chief Human Resources Officer	Andrew J. Kaslow Age 58

Vice Chairman Legal, Human Resources, Corporate Communications and Corporate Affairs	Anastasia D. Kelly Age 59
VP, Life Insurance	Jeffrey M. Kestenbaum
SVP and Chief Risk Officer	Robert E. Lewis Age 57
Chairman and CEO	Edward M. Liddy Age 63
SVP and Chief Investment Officer	Monika Machon Age 48
EVP Life Insurance	Rodney O. Martin Age 56, $682,000 salary, $1,106,500 bonus
Director	George L. Miles Age 67
EVP; President and CEO, AIG Property Casualty Group	Kristian P. Moor Age 49, $664,423 salary, $1,201,250 bonus
VP Global Energy	Ralph W. Mucerino
Chairman and CEO, Global Investment Group	Win J. Neuger Age 59, $942,000 salary, $1,223,000 bonus
Director	Suzanne Nora Johnson Age 51
President, AIG Environmental	John O’Brien
Director	Morris W. Offit Age 72
Director	James F. Orr Age 65
President Consumer Finance Group	Rick Pfeiffer
President and COO, American Life Insurance Company	Joyce A. Phillips Age 47
President, AIG Europe, S.A., and President, AIU Continental European Region	Julio A. Portalatin
Vice Chairman and Chief Restructuring Officer	Paula R. Reynolds Age 52
SVP and Director Internal Audit	Michael E. Roemer
Director	Virginia M. Rometty Age 50
Chief Claims Officer, General Insurance	Charles R. Schader
Regional VP, AIG International Retirement Services – Asia	Timothy P. Schiltz Age 47
VP Domestic General Insurance; SVP and CFO, Domestic Brokerage Group	Robert S. Schimek
SVP Strategic Planning	Brian T. Schreiber Age 43
SVP, Secretary, and Deputy General Counsel	Kathleen E. Shannon Age 59

VP, Foreign General Insurance	Michael L. Sherman
President, AIG Executive Liability	Michael W. Smith
Director	Michael H. Sutton Age 67
VP, Life Insurance and Retirement Services	Christopher J. Swift
President AIG Small Business	Vincent C. Tizzio
VP Life Insurance	Seiki Tokuni
Senior Vice Chairman, Life Insurance and Director	Edmund S. W. Tse Age 70, $848,776 salary, $1,863,960 bonus
VP Life Insurance	Andreas Vassiliou
EVP, Foreign General Insurance; President and CEO, American International Underwriters	Nicholas C. Walsh Age 58
VP Rating Agency Relations	Teri L. Watson
SVP Domestic General Insurance	Mark T. Willis
EVP Retirement Services; President and CEO, SunAmerica	Jay S. Wintrob Age 51, $775,000 salary, $1,742,500 bonus
President, AIG Excess Casualty Group	Douglas Worman

Frontier Leasing was really “Liberty”

All defendants defaulted under their respective lease agreements by failing to make required monthly payments. In 2004 Frontier, Liberty’s successor in interest, filed suits against Acevedo, Bishop’s, Vista, and JMM. In each case it sought damages for breach of the lease agreement. The defendants failed to file answers or otherwise appear, and in March 2005 Frontier requested that default judgments be entered against all defendants.

http://www.precydent.com/citation/IA+App/05-601

To save you from the legal gibberish, Frontier is going after people some 8 years after they supposedly defaulted on Liberty leases – in reality, Liberty screwed all of these people out of their money on an ATM leasing scam.  The marketer of the scam went bankrupt, the organization that designed the machines, Tidel went public and members of its board got filthy rich! (See more below.)  The judge threw Frontier out on their asses as they smelled what they were trying to do.  Good Job Ed McConnell!  I’ve heard of personal injury lawyers, but not law firms that chase victims and kick ’em while they’re down!

So why the importance?

Well, you see Liberty was one of many leasing companies involved in a scam that went like this:  (taken from a court document – not from the press)

Credit Card Company (“CCC”) is an equipment vendor that developed an aggressive distribution program selling, installing and servicing ATM’s. CCC’s market included convenient stores, gas stations, and other similar businesses.  Appellee and CCC entered into a “Vendor Finance Program and Remarketing Agreement” whereby CCC would sell, distribute and service ATM’s and appellee would provide only financing to qualified CCC customers. Pursuant to their agreement, CCC would obtain all of the credit information from the customers buying the equipment, as well as their signatures on the credit applications and lease agreements.

So CCC made a deal with NCR and Tidal to sell their ATM machines (read about NCR and Tidel here.)  Tidal was obviously involved as executives in the company ( used the inflated revenues to make themselves rich.  They preyed upon unknowing store owners by coercing them into signing a lease for $269/month for 60 months ($18,000) for a machine that cost approximately $2,000.

The saga continued. Three members of its Board, including Rash, filed Form 4 reports with the Securities and Exchange Commission showing open-market purchases ofthe company’s common stock in October. Clay purchased 40,000 shares, and Rash and Raymond P. Landry purchased 10,000 shares each.At that time, Tidel also reported that Britton, who had served as a member of the Board of Directors since 1990, had tendered his resignation on Oct. 11. Britton had acquired 100,000 Tidel shares for $81,500 through the exercise of warrants on July 12, 2000. He then sold 133,800 shares for a profit of $1,556,494 over the next 12 days. A month earlier, Rash had sold 250,000 shares for a profit of $2,917,839 over an eight-day period beginning on June 13. Levenick also sold 105,000 shares from June 14 to 16 for $1,246,070 in proceeds. But Tidel claimed that at the time of the stock sales, no one in the company anticipated future problems with CCC. Let’s wait a moment for the laughter to die down. Read More here

Then CCC went bankrupt after selling all of the leasing paper.  Liberty was one of the original leasing companies in bed with CCC.  With this type of arrangement, CCC probably got a big chunk of money from the sale of the paper, walked away bankrupt and the left all the marks to the predatory behaviors of the leasing companies.

Fast forward to 2005 – NCR who was in bed with Tidel on the ATM deal, bought them out hiding more of their dirty little secrets.

NCR agreed to acquire the ATM business of Tidel Technologies in 2005; the deal closed early the following year. – Hoovers (from NCR history page)

Frontier Leasing is digging up every contract it can find and suing the holders for every dime it can get.  Search on “frontier leasing” and Iowa and see how many cases are out there in the public domain.  Not to mention hundreds that haven’t yet made it to the light.

Summary:  Today’s framework provides little to no protection for the little guy.  With the cost of legal representation (due diligence added to hourly wages exceeding $200/hour, there is no affordable option for defense).  With corporate bankrolls supporting the top legal firms and lobbyists on Capitol Hill, once again the behemoth is going to win. Look at GM, Chrysler, B of A and Citigroup!  So how is the little guy to make it?  Get bloody angry and call your congressman, your attorney general and make it known that you’ve been taken! (Chances are, they have heard from others and your voice might be enough to put the AG over the edge to stand up for what’s right in his state.  After all, if you go out of business, he loses tax money, jobs and all types of other revenues he relies on coming from small business, not big business!) If we lay down, the lion doesn’t go away!  He bites!.  But if we huddle up with our tusks outward, we can fend him off!  What little bit of corporate America that was trustworthy (banks, insurance companies, Wall Street) as we know it is gone.  It’s time to stand up and scream “We’ve had enough and we’re not going to take it anymore!”