A Response from Utilities, Inc. President Re AIG Link
Thursday, April 9, 2009 2:49 pm
First of all I would like to thank you for the opportunity to respond. In an effort to fully explain the relationship between AIG and Highstar, and then the further relationship to Utilities, Inc. I would like to use an analogy. I am sure many of your readers have heard of FedEx Field in Maryland and understand the concept of naming rights. FedEx Field is where the Washington Redskins play their home football games. The ownership of the stadium is by Daniel Snyder/Redskins. FedEx has entered into a marketing agreement to have its name associated with the field. Prior to FedEx the name was Jack Kent Cooke Stadium. As everyone understands FedEx does not own the Washington Redskins stadium or the team. This is strictly a marketing arrangement. The same can be said about the former AIG Highstar name, it was naming rights, a marketing arrangement (that worked for both sides) and has no impact on ownership.
I truly hope this clarifies your understanding. If you have any further questions please feel free to contact my office, Larry Schumacher - President & C.E.O.