Fascinating that a $750 million dollars makes Mr. Spitzer’s problems go away. As an industry we need to assure our clients and business partners that things cannot and will not be business as usual. This situation casts light on some seriuos isssues that hopefully have been resolved.
So Marsh escapes with nearly 1/2 billion left over. Not bad for a few years of sleaze. And the rest of us are tainted by Marsh’s greed. Still the Greenberg Triad survives and wallows in their ill-gotten wealth.
Spitzer allows them to buy their way out and he does not disrupt his campaign for Governor.
What do you expect? To actually see some reform come out of this. This was all about who carried the bigger stick and who could make whom bow first. It had nothing to do with what was right for the industry or who’s jobs were at stake. I give it 6 months and it will be back to business as usuall.
Apology? I thought those were for mistakes or accidents not intentional acts of greed, mendacity and client pain. Give the $1.2B back and just admit M&M was managed by jerks.
If top management was aware of the illegal contracts, why is Spitzer not offering them jail time and getting part of the $750 million from them personally? It seems stockholders are left holdoing the bag.
Mr Spitzer, I am trying to buy a new car…could there be collusion there also? Can you believe it, I never get the same price dealer to dealer? How come you haven’t announced a plan of attack there?
The stockholders benefited from the arangements and are now punished by lost earnings. Management has lost their employment but probably not the gains they made from the arangements. Spitzer and the State of N.Y. win big in terms of publicity and $’s. The retail agent is left to explain to his/her customer what this all means and then justify to the state DOI all of their contingency contracts while the insurance companies see this as a way to further reduce agent compensation. Is this a great business of what?
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Fascinating that a $750 million dollars makes Mr. Spitzer’s problems go away. As an industry we need to assure our clients and business partners that things cannot and will not be business as usual. This situation casts light on some seriuos isssues that hopefully have been resolved.
So Marsh escapes with nearly 1/2 billion left over. Not bad for a few years of sleaze. And the rest of us are tainted by Marsh’s greed. Still the Greenberg Triad survives and wallows in their ill-gotten wealth.
Spitzer allows them to buy their way out and he does not disrupt his campaign for Governor.
What do you expect? To actually see some reform come out of this. This was all about who carried the bigger stick and who could make whom bow first. It had nothing to do with what was right for the industry or who’s jobs were at stake. I give it 6 months and it will be back to business as usuall.
Apology? I thought those were for mistakes or accidents not intentional acts of greed, mendacity and client pain. Give the $1.2B back and just admit M&M was managed by jerks.
Jim Howse
If top management was aware of the illegal contracts, why is Spitzer not offering them jail time and getting part of the $750 million from them personally? It seems stockholders are left holdoing the bag.
Marsh will probably take the other $600 million and give it to the 3,000 employees who lost their jobs. Or maybe just give it all to Jeff.
Mr Spitzer, I am trying to buy a new car…could there be collusion there also? Can you believe it, I never get the same price dealer to dealer? How come you haven’t announced a plan of attack there?
The stockholders benefited from the arangements and are now punished by lost earnings. Management has lost their employment but probably not the gains they made from the arangements. Spitzer and the State of N.Y. win big in terms of publicity and $’s. The retail agent is left to explain to his/her customer what this all means and then justify to the state DOI all of their contingency contracts while the insurance companies see this as a way to further reduce agent compensation. Is this a great business of what?
What! No slap on the wrist too?!?!?
Maybe that will come from the individual lawsuits.