Will Former AIG Chair Buy Stowe?
Stowe and AIG have always been closely linked. The interesting historical links are described in the recent Forbes article.
Maurice “Hank” Greenberg, the former chairman of troubled insurer American International Group and an avid skier, says he wouldn’t rule out buying the Stowe Mountain Resort in Vermont’s picturesque Green mountains and now in the midst of a $400 million expansion.
Hank’s attachment derives from a fact unrealized by much of the outside world: The resort is 100% owned by AIG.
The attachement goes back to 1943. AIG’s founder, Cornelius Vander Starr, visited Stowe for the first time in 1943. Six years later, Starr launched the Mt. Mansfield Company,which operates the Stowe Ski Resort to this day. Starr or his estate owned until it was sold to AIG in 1970.
Read the rest of the story in the Forbes Article about Stowe and AIG