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"The fight is never about grapes or lettuce. It is always about people." Cesar Chavez |
:: Monday, April 21, 2003 ::
A Life Insurer in Need of a Lifeline On Mar. 3, insurance rating service A.M. Best Co. downgraded ULLICO to "vulnerable." "They ran out of the Global Crossing money, which had allowed the parent to make contributions to the insurance units in the past," says A.M. Best analyst Joseph Zazzera.
To stop the hemorrhaging, Georgine told his board that he will hire a management consulting firm to help straighten out the insurance business. The board also discussed slashing ULLICO staff salaries by 25% and selling the new headquarters the company is building in Washington, D.C.------------------------------------------- posted 10:33 AM :: reference link ::
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