A lucrative second act at Willis for ex-AIG chief…
There may be no second acts in American politics, but sometimes it seems like corporate executives can count on one. As the third man to run American International Group (AIG) in its nine-decade history, Martin J. Sullivan oversaw its disastrous run from one scandal to another. He took over on the ouster of his mentor,...
Walking away is easy to do at Hyatt …
Back in early August, we footnoted the decision by Hyatt Hotels (H) to abandon the Hyatt Regency Princeton after falling behind on the mortgage. At the time, we contrasted the corporate decision to abandon a property it no longer wanted with similar decisions that countless Americans are making about their homes. Now we know how...
Jingle mail in Jersey from Hyatt Hotels …
If you’re in Princeton, New Jersey, anytime soon, swing by the Hyatt Regency Princeton. With the Hyatt Hotels (H) quarterly report filed yesterday, it has become a symbol of the financial crisis — and of a some stark contrasts between business and personal debt in the U.S. Like households across the country, one of Hyatt’s...
Citi settles as big firms fret over obscenities …
Another stormy summer day in Washington, another high-profile lawsuit from the Securities and Exchange Commission — this one against Citigroup and former senior executives of the company. Once again, it’s about disclosure, and the agency’s press release puts it succinctly: “Citigroup repeatedly made misleading statements in earnings calls and public filings about the extent of...
