Former AIG (AIG) Chief Greenberg Turns Up the Heat

In an amended 13D filing on American International Group, Inc. (NYSE: AIG), former CEO Hank Greenberg, said he is considering and evaluating strategic alternatives designed to lead to the maximization of their investment in the company.

Greenberg believes that there are opportunities to significantly improve the company's performance and strategic direction, as well as the value of their investment.

Greenberg said he may hold talks with stockholders and third parties.

From the Filing:

"The Reporting Persons are considering and evaluating strategic alternatives designed to lead to the maximization of their investment in the Issuer. The Reporting Persons believe that there are opportunities to significantly improve the Issuer's performance and strategic direction, as well as the value of their investment. In this connection, the Reporting Persons anticipate holding discussions with stockholders and third parties that may address a number of issues, including without limitation, their respective views on the Issuer's business and prospects, the suggested disposition of certain of its operations, investment opportunities and concerns over the direction and management of the Issuer generally, and other opportunities to improve or realize on the value of their investment in the Issuer. At this time, the Reporting Persons have not made any decisions regarding their future intentions with regards to their plans and proposals with respect to the Issuer."

UPDATE: Greenberg Has Less Than 100K New York Times (NYT) Shares, And No Current Plans to Raise Stake

After the close of trading Wednesday, a Hank Greenberg's spokesman said Mr. Greenberg has less than 100,00 shares of New York Times Co. (NYSE: NYT) stock and has no present intention of increasing his stake. The stock was up today on reports from the New York Post, Greenberg was buying loads of NYT stock in an effort to break the Sulzberger family's control of the company.

Shares of New York Times closed up 7.5% today on the original reports and follow-up reports from CNBC's Charlie Gasparino that Greenberg wanted to buy the company.

New York Times (NYT) Higher On Reports Hank Greenberg Is Buying Up Stock

New York Times Co. (NYSE: NYT) is higher today following reports from the New York Post, Maurice "Hank" Greenberg, the former Chairman of AIG, has begun buying significant blocks of the stock in an effort to break the Sulzberger family's control of the company.

The Post said Greenberg has been buying hundreds of thousands of New York Times shares, but an exact amount was not known.

Morgan Stanley, another large New York Times shareholder, has been pressing the company to drop the dual-class share structure that gives the Sulzberger-Ochs family voting control.

Shares of New York Times are 6% to $24.42 in mid-day action Wednesday.

NOTE: No filing has been noted yet disclosing the purchases. If Greenberg accumlates a 5% or more stake and intends to influence the company he will be recquired to file a 13D.