A Builder of Businesses

Eli Broad,a billionaire investor who,with his associates,owns a 4% stake(27 million shares) in American International Group(AIG),has been evaluating the company's prospects.He thinks new CEO Bob Willumstad is up for the job.He's met with him,and will meet with him again.Mr.Broad believes former CEO Martin Sullivan is a good man in commercial insurance,but AIG needs greater strength in finance and investment.It's going to get that soon.AIG's retirement and investment businesses have done well for it.The firm is manageable.It's a great franchise,with great core earning power,Mr.Broad said.