Recent Blog Posts
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The $4.5 Billion Dollar Bank Run
Nov 07 201111:20 am EDT -
The Times' Rorshach Geithner Story
Apr 27 20099:26 am EDT -
Sinking Animal Spirits
Apr 27 20098:45 am EDT -
Counter-cyclical Urban Policy
Apr 26 200910:00 am EDT -
Be Your Own Counterfeiter
Apr 26 20099:36 am EDT -
Being Tim Geithner
Apr 25 200912:37 pm EDT -
Notes From a Press Conference Naif
Apr 25 20099:41 am EDT -
What Good is the News?
Apr 25 20098:32 am EDT -
Stressful Enough
Apr 24 20092:29 pm EDT -
Not Regretting the Pound
Apr 24 20091:09 pm EDT
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Martin Sullivan Deathwatch
In terms of Jack Flack's five levels of CEO media hell, AIG's Martin Sullivan has now graduated from "on the ropes" to "dead man walking". The WSJ's headline says it all: "AIG's Chief Faces Worries Of Investors and Directors" - which means that board members are now grumbling to the press, rather than to the CEO directly. When that happens, it's all over - especially with Hank Greenberg grumbling loudly on the sidelines:
Several top shareholders of AIG have called me expressing deep concern about the persistent and seemingly endless destruction of value at AIG. They, and I, are deeply distressed by the excessive loss of value...
AIG is in crisis.
There's no way that Sullivan can survive this. The question isn't whether he'll be ousted, only when.
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