Ronald Shelp
Encyclopedia
Ronald Kent Shelp is the author of Fallen Giant: The Amazing Story of Hank Greenberg and the History of AIG. Shelp worked for Maurice "Hank" Greenberg
, CEO of American International Group
, for 12 years, ultimately serving as worldwide head of government relations. Fallen Giant is a 2006 non-fiction book that tracks AIG from its first business transaction in China in 1919, through its growth into a global financial services powerhouse, to Greenberg's exit in 2005 after accusations of fraud by New York Attorney General Eliot Spitzer
. The contributions of C.V. Starr
, AIG's founder, and Greenberg, who led the company for 37 years, are chronicled in the book. It was updated several times during the financial crisis that began in 2008
, when the US government seized control of AIG by lending the company $85 billion in exchange for a 79.9% equity stake, making the American taxpayer AIG’s largest shareholder.Fallen Giant was translated and published in China, Taiwan, and Korea.
Shelp met Greenberg early in his career when he led the insurance industry group at the U.S. Chamber of Commerce
. He was an advocate for trade in services, which was outlined in his book, Beyond Industrialization: Ascendancy of the Global Service Economy.
While at AIG he served on the board of American International Underwriters Corporation (AIUC) and other AIG subsidiary boards. Shelp was later president and CEO of the New York City Partnership and New York Chamber of Commerce. He is a member of the Council on Foreign Relations
and writes about AIG and Greenberg on his Forbes.com
blog, Greenberg Watch
Shelp is a graduate of the Johns Hopkins School of Advanced International Studies
. He received his baccalaureate from the University of Georgia
, and pursued doctoral studies at the London School of Economics
. He lives in New York City with his wife and two children.
Maurice R. Greenberg
Maurice Raymond "Hank" Greenberg is an American business executive and former chairman and CEO of American International Group , which was the world's 18th largest public company and its largest insurance and financial services corporation.He is currently chairman and CEO of C.V. Starr & Co., Inc....
, CEO of American International Group
American International Group
American International Group, Inc. or AIG is an American multinational insurance corporation. Its corporate headquarters is located in the American International Building in New York City. The British headquarters office is on Fenchurch Street in London, continental Europe operations are based in...
, for 12 years, ultimately serving as worldwide head of government relations. Fallen Giant is a 2006 non-fiction book that tracks AIG from its first business transaction in China in 1919, through its growth into a global financial services powerhouse, to Greenberg's exit in 2005 after accusations of fraud by New York Attorney General Eliot Spitzer
Eliot Spitzer
Eliot Laurence Spitzer is an American lawyer, former Democratic Party politician, and political commentator. He was the co-host of In the Arena, a talk-show and punditry forum broadcast on CNN until CNN cancelled his show in July of 2011...
. The contributions of C.V. Starr
Cornelius Vander Starr
Cornelius Van der Starr also known as Neil Starr or CV Starr was an American businessman and Office of Strategic Services operative who founded the American International Group insurance corporation and a major philanthropic foundation.-Early life:Starr was born in Fort Bragg, California with the...
, AIG's founder, and Greenberg, who led the company for 37 years, are chronicled in the book. It was updated several times during the financial crisis that began in 2008
Late-2000s financial crisis
The late-2000s financial crisis is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s...
, when the US government seized control of AIG by lending the company $85 billion in exchange for a 79.9% equity stake, making the American taxpayer AIG’s largest shareholder.Fallen Giant was translated and published in China, Taiwan, and Korea.
Shelp met Greenberg early in his career when he led the insurance industry group at the U.S. Chamber of Commerce
United States Chamber of Commerce
The United States Chamber of Commerce is an American lobbying group representing the interests of many businesses and trade associations. It is not an agency of the United States government....
. He was an advocate for trade in services, which was outlined in his book, Beyond Industrialization: Ascendancy of the Global Service Economy.
While at AIG he served on the board of American International Underwriters Corporation (AIUC) and other AIG subsidiary boards. Shelp was later president and CEO of the New York City Partnership and New York Chamber of Commerce. He is a member of the Council on Foreign Relations
Council on Foreign Relations
The Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
and writes about AIG and Greenberg on his Forbes.com
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
blog, Greenberg Watch
Shelp is a graduate of the Johns Hopkins School of Advanced International Studies
Paul H. Nitze School of Advanced International Studies
The Paul H. Nitze School of Advanced International Studies , a division of Johns Hopkins University based in Washington, D.C., is one of the world's leading and most prestigious graduate schools devoted to the study of international affairs, economics, diplomacy, and policy research and...
. He received his baccalaureate from the University of Georgia
University of Georgia
The University of Georgia is a public research university located in Athens, Georgia, United States. Founded in 1785, it is the oldest and largest of the state's institutions of higher learning and is one of multiple schools to claim the title of the oldest public university in the United States...
, and pursued doctoral studies at the London School of Economics
London School of Economics
The London School of Economics and Political Science is a public research university specialised in the social sciences located in London, United Kingdom, and a constituent college of the federal University of London...
. He lives in New York City with his wife and two children.
See also
- Lowenstein, Roger. "The Foundation, and the Flaws, of an Empire", The New york Times. December 17, 2006.
- Guerrera, Francesco (New York) and Andrea Felsted (London). "Inadequate Cover." Financial Times. October 6 2008. http://www.ft.com/intl/cms/s/0/19e64f6e-93c5-11dd-9a63-0000779fd18c.html?nclick_check=1#axzz1Tu3O9HJf, accessed August 2, 2011
- Cypel, Sylvain. “La revanche de M. Greenberg.” LE MONDE. March 10, 2009. http://www.lemonde.fr/cgi-bin/ACHATS/acheter.cgi?offre=ARCHIVES&type_item=ART_ARCH_30J&objet_id=1073752&clef=ARC-TRK-D_01, accessed August 2, 2011
- Shelp, Ron. "AIA's New Deal." The Wall Street Journal. November 2, 2010.
- Shelp, Ron. "The End of AIG's Asian Era." The Wall Street Journal Business Asia. March 4, 2010: n. page. Print.
- Quinn, James. "Lehman collpase: analysis at a premium in run-up to AIG’s failure." The Telegraph. September 17, 2009. http://www.telegraph.co.uk/finance/financialcrisis/6202420/Lehman-collpase-analysis-at-a-premium-in-run-up-to-AIGs-failure.html
- Shelp, Ronald K. "The Hollowing of New York." The New York Times. February 1, 1992.
- "New President Named At 2 Business Groups." The New York Times. August 26, 1987.
- Shelp, Ron. "Trade in Services." Foreign Policy. Number 65 (1986-87): 64-84. Print.
- Shelp, Ronald K. and Gary W. Hart. "Understanding a New Economy." The Wall Street Journal. December 3, 1986. Print.