Monday, April 6, 2009
AIG Affecting Charitable Sector
AIG has once again been denied access to shares of their company now in the possession of the non-profit Starr Foundation. The Starr Foundation is an organization that is largely financed by AIG stock and run by AIG current and former executives. The Starr Foundation lost almost 57% of its assets due to the decline in the stock price of AIG. The stock price drop of AIG has also affected other foundations holding AIG stock, as well as the organizations these foundations fund. Seems AIG is now having a ripple affect in the charitable sector.