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"The fight is never about grapes or lettuce. It is always about people." Cesar Chavez |
:: Thursday, June 26, 2003 ::
ENR | ULLICO Probers Question Georgine's Compensation
The new ULLICO Inc. board of directors has more challenges ahead than simply the yeoman's task of renewing investor confidence in the aftermath of controversial insider stock transactions. It must staunch a flow of red ink that will ooze through 2003 and unravel complicated compensation deals that were made with former CEO Robert A. Georgine.
For 2002, the union-owned insurance and investment company posted an $88-million after-tax loss, says Terence M. O'Sullivan, ULLICO's new chairman and CEO. There will be an operating loss in 2003, he says.------------------------------------------- posted 5:24 AM :: reference link ::
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