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NEW YORK (AP) - In management circles, retention plans are often known as "golden handcuffs" because they offer sweet deals to executives to stick around or risk losing big benefits.
This takes on a different meaning at American International Group Inc. The CEO may be gone, but the company certainly remains handcuffed to him.
This all has to do with Maurice "Hank" Greenberg, who spent 37 years building AIG into an insurance industry leader. He was forced to resign last month amid a widening probe into the company's financial practices.
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