Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) and American International Group Inc (NYSE:AIG) had a secret non-compete agreement in place over hiring employees for a year that has now ended, according to a recent Bloomberg TV interview. AIG threatened legal action against Berkshire Hathaway The interview revealed that American International Group Inc (NYSE:AIG) threatened legal action in order to encourage Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) to agree not to hire additional AIG’s executives for one year. Berkshire had poached AIG executives Peter Eastwood, David Fields, Sanjay Godhwani and David Bresnahan in 2013 for what Buffett described as a “big time” expansion into business…
AIG And Berkshire Hathaway Had Secret Non-Compete Agreement
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.