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Thứ Tư, 30 tháng 1, 2013

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Car insurance is required in all 50 states fo... ]]> Fri, 23 Dec 2011 00:00:00 GMT de107a78-fb21-4de1-99d3-69594e898a2f Auto Insurance Honesty is the best policy. Cheaters never prosper. It’s a sin to tell a lie. You’ve heard all the clichés but sometimes it takes knowing how easily you can be found out and the consequences of fibbing to hammer home the point. So, t... ]]> Wed, 21 Dec 2011 00:00:00 GMT 3c64def9-56b3-49b9-ac54-8f596269bff6 Auto Insurance Just a few shopping days left before Christmas. Don’t let your car become a shopping mall for crooks. Every year, over $1.25 billion in personal property is stolen from America’s vehicles, according to the National Insurance Crime Bureau. M... ]]> Thu, 15 Dec 2011 00:00:00 GMT 943ea575-0c05-4e72-882c-f2ac18331346 Auto Insurance Holiday party season is in full swing. So cheers to you! But before you hit the road after hitting the bars, we’ve got a six-pack of reasons for designating a sober driver. The best one, of course, is that you want to be alive and healthy... ]]> Mon, 12 Dec 2011 00:00:00 GMT 297645d7-1a14-46f6-bca0-91b249f3bce6 Auto Insurance Information is power. In today’s world, knowing who knows what about you is your best bet at leveling the playing field. Here’s what you need to know about insurance credit scoring and whether a less than stellar
score is why you&rsquo... ]]> Wed, 07 Dec 2011 00:00:00 GMT 1a975a5a-a89f-4e20-9c83-66d9a8c52ab2 Auto Insurance The early numbers on Cyber Monday 2011 are in. According to Coremetrics, sales for this year’s Cyber Monday beat last 2010’s by 13.7% and topped this year’s Black Friday by 24.1%. The average dollar amount per online order was up, too... ]]> Fri, 02 Dec 2011 00:00:00 GMT 3e6a8de5-9f9f-4e90-877f-9f47415e158d Auto Insurance Here's a sobering thought for the holidays: Traffic accidents remain one of the leading causes of untimely death in America. Besides not driving like a maniac, observing the rules of the road and exercising basic
safety precautions (buckle up out ... ]]> Wed, 30 Nov 2011 00:00:00 GMT b4784bdb-cc6d-4fad-bef2-acf7c9b042d3 Auto Insurance Holiday shopping season is about to kick off, bringing with it all the dubious joys of trying to find a parking space. Street parking, hard to find anytime, is now at a premium. Shopping mall lots aren’t much better.
Yet, no matter how crowd... ]]> Thu, 17 Nov 2011 00:00:00 GMT 4943974a-769e-4b31-aac3-0fbb20520377 Auto Insurance The Thanksgiving weekend signals the start of the 2011 holiday season and a flood of drivers heading down the Interstate for a family turkey feast. While it’s not the busiest travel time of the year (5 to 10 days in summer get that honor... ]]> Tue, 15 Nov 2011 00:00:00 GMT b51b70f4-b909-4a09-85e0-abefe862f5f1 Auto Insurance Last year, parts of the U.S. saw the coldest winter in 30 years. But if you thought that was cold, hang onto your long johns, because experts are predicting another record-breaker this year.  If October’s early snow storms were any indicatio... ]]> Wed, 02 Nov 2011 00:00:00 GMT 0579bccc-ed63-4ace-bf33-9fe99f8258b2 Auto Insurance With winter on the way, along with White Christmases, ski trips and snowball fights, we can also look forward to more potholes cropping up. Winter weather takes a heavy toll on America’s crumbling roads. The New York DOT estimates it fills as man... ]]> Tue, 25 Oct 2011 00:00:00 GMT 60a364bb-9ef1-49ba-87e4-2f9d928cdfd2 Auto Insurance You’ve probably read about people losing their jobs or blowing a job interview because of indiscrete Facebook posts. But employers and HR departments aren’t the only people scanning social media sites for personal data. Now the car insuranc... ]]> Mon, 24 Oct 2011 00:00:00 GMT 319f2d08-5098-4025-b8c7-eb9756520a4b Auto Insurance The National Association of Insurance Commissioners (NAIC) issued an alert this month reminding consumers to review their auto insurance policies at least once a year. The easiest way to do that, NAIC says, is to get car insurance quotes online using s... ]]> Fri, 23 Sep 2011 00:00:00 GMT 9aaa7c67-9cfc-4b22-98f8-772fc22f9f6e Auto Insurance Motorcycles, scooters, and mopeds must comply with all parking and standing restrictions that apply to traditional vehicles. In some cases the Illinois Vehicle Code treats scooter and moped operation similar to that of a bicycle; however this is not th... ]]> Wed, 14 Sep 2011 00:00:00 GMT b585041e-e9c3-457c-a8e5-8190392fb341 Auto Insurance Distracted driving is a leading cause of car accidents. According to the National Highway Traffic Safety Administration (NHTSA), 20% of all injury crashes and 18% of automobile fatalities in 2009 (the latest data
available) were the result of dist... ]]> Tue, 09 Aug 2011 00:00:00 GMT 37767b05-053a-4b80-815b-6b0d12ae6602 Auto Insurance Summer and the summer driving season officially kicked off this week. With more hours of daylight and warm weather, it seems counterintuitive that summer not dark, dreary winter is the deadliest driving
season. Even more surprising, the Fourth of ... ]]> Thu, 23 Jun 2011 00:00:00 GMT 4f78bb83-a99f-4688-90ea-3999f86e43ac Auto Insurance Spring was a little late in coming to many parts of the country this year. When it did show up, it often wreaked havoc. So if you haven’t done your spring cleaning yet, you get a pass and a second chance to
get organized.  Start... ]]> Mon, 20 Jun 2011 00:00:00 GMT 6f21043f-60c4-4736-a0f1-9ffb1b4fd47a Auto Insurance Good for you! You  applied for competitive health insurance quotes and car insurance quotes at www.einsurance.com. You secured a health insurance policy and auto insurance policy that fit your needs and budg... ]]> Wed, 15 Jun 2011 00:00:00 GMT f95c75da-28bf-4f08-a607-8110513af2dd Auto Insurance Running a red light can be quite costly. In addition to the fine (upwards of $500 in some places), the points on your driving record (1, 2, 3 or more depending on where you live) can result in higher car insurance premiums. It’s bad enough when y... ]]> Fri, 10 Jun 2011 00:00:00 GMT 9bdb94fc-fd3a-4421-8915-cf0270ae8c2e Auto Insurance At least 78% of Americans aged 70 and older are still licensed to drive, according to the Insurance Institute of Highway Safety (IIHS). Popular opinion holds that older drivers pose a higher-than-average danger to themselves and others on the road. But... ]]> Thu, 09 Jun 2011 00:00:00 GMT 6158dec1-1a4d-45fe-871d-262a7904213c Auto Insurance Detroit, Michigan is poised to become a test site for a bare-bones auto insurance program aimed to get the city’s uninsured drivers to carry some kind of coverage. Michigan’s 19% uninsured driver rate is well above the 13% national average,... ]]> Mon, 06 Jun 2011 00:00:00 GMT 07d74499-a0d3-4d61-b690-58f2c5532b6e Auto Insurance New York City officials announced this week that the city is looking into “DriveSmart” technology, an in-vehicle device that tracks mileage, speed and other driving habits to calculate individual car insurance premiums. The pay-as-you-go, u... ]]> Thu, 12 May 2011 00:00:00 GMT b84374b0-3f1b-45f1-ba7f-0bf84b7437b8 Auto Insurance Your good driving habits, combined with car insurance discounts like multi-policy, multi-vehicle and anti-theft devices can help you find cheap car insurance. But while you’re working hard to keep your premiums low, scam artists are driving ... ]]> Mon, 18 Apr 2011 00:00:00 GMT b746186d-93e0-43dc-a2cb-9f2c6f9d21b3 Auto Insurance Shopping for a car for your teen driver? The right choice can have an impact on your teen’s car insurance premiums. If your kid is like most, he or she will want something that’s cool, sporty and fast. Your job as a responsible parent (and ... ]]> Mon, 11 Apr 2011 00:00:00 GMT 1261480e-4d94-485e-b700-c77b9e555079 Auto Insurance You want to shop for a cheaper car insurance policy, a different level of coverage or better service. You’re moving to another state. You sold your car. Your marital status has changed. There are all kinds of reasons to cancel or switch your car ... ]]> Wed, 30 Mar 2011 00:00:00 GMT 219807ca-4634-4a95-838e-352a9534d60b Auto Insurance Penny-pinching is turning into an art form these days, but take care where you decide to save. It could end up costing you more in the long-run. Car insurance, for instance, is one of those expenses you might be tempted to forgo. It's true that the che... ]]> Tue, 29 Mar 2011 00:00:00 GMT ea07ec1f-1ffb-4205-b9d0-f1b1b0dbb295 Auto Insurance Chicago, IL (PR WEB) January 13, 2011--What’s the difference between a bad driving record and a good one? As much as $3,000 a year or more according to a new analysis comparing online auto insurance quotes. The research was conducted by Ryan Krie... ]]> Wed, 16 Mar 2011 00:00:00 GMT c1accdd7-03ae-4e6c-b9f6-329e4a9215a0 Auto Insurance Like millions of Americans who rent vehicles for business and pleasure, you probably shop for the best price, upgrade offers or loyalty points. But how much thought do you give to the safety record or conditions of the vehicle you’re renting? If ... ]]> Tue, 15 Mar 2011 00:00:00 GMT 1367a231-dc4f-452e-b14f-07501d2349df Auto Insurance Would a national law requiring graduated drivers licensing in all 50 states save lives? Backers of the STANDUP Act, including major insurer AllState, believe so, and they’re pushing for the reintroduction of the bill, which would create a standar... ]]> Tue, 08 Mar 2011 00:00:00 GMT 37a3abf9-4b8b-4319-862a-99cd85662ea9 Auto Insurance The new year is well under way, solid economic recovery remains elusive and global events have sent gasoline costs soaring. Is there any good news? Well, maybe, if you’re in a position to take advantage of some industry trends that could help you... ]]> Mon, 07 Mar 2011 00:00:00 GMT a5bc0493-cfde-4bd9-ba36-93a5ed3c6756 Auto Insurance In a perfect world, all insurance claims would be handled promptly and to your complete satisfaction. Then again, in a perfect world, you wouldn’t need insurance. Alas, perfection continues to elude us and our insurance carriers. The National Ass... ]]> Tue, 01 Mar 2011 00:00:00 GMT e128abfe-048c-4dac-b5ea-72559793c1e9 Auto Insurance Tick. Tick. Tick. April 15 is coming. About 1% of the population is audited every year, but in an effort to bolster revenues, the IRS is reportedly ramping up their scrutiny. One of the red flags is unreported income. Is the inheritance you got from yo... ]]> Mon, 14 Feb 2011 00:00:00 GMT aff600b9-a917-4647-9657-18310c1ba233 Auto Insurance Uncle Sam wants you to declare every single penny of taxable income. Failure to do so may result in an audit (which makes root canal without anesthesiology seem like a picnic) and hefty fines. But what exactly is taxable income? The courts have defined... ]]> Mon, 14 Feb 2011 00:00:00 GMT 3a668842-2dc0-4753-b8f8-13dbd2bcd008 Auto Insurance Rats! You just smashed up your two-year-old car. You have a good car insurance policy with comprehensive and collision, and a fairly low deductible. After notifying the police and your insurance company (remember, you’re contractually obligated t... ]]> Fri, 11 Feb 2011 00:00:00 GMT 00f2c4fa-0253-4e0b-8548-93eecac1448c Auto Insurance We’re spending more time in our cars and not always by choice, according to the most recent Urban Mobility Report prepared by the Texas Transportation Institute. The report claims that the average commuter spent 34 hours delayed in traffic last y... ]]> Tue, 08 Feb 2011 00:00:00 GMT 98c0ca54-7f4e-4501-a1cf-e6a8401945c1 Auto Insurance As the price of gasoline continues to inch upward (a national average of $3.10 per gallon as of February 2, 2011), maybe you’re thinking about buying one of the 30 different hybrid cars currently on the market.  You’re not alone. After... ]]> Wed, 02 Feb 2011 00:00:00 GMT e641e232-514c-48dc-beeb-07ac97d9cff1 Auto Insurance The tax man cometh and he’s headed for your wallet. Itemize your tax return and take full advantage of all legitimate income tax deductions that you’re entitled to in 2010, including insurance deductions. Deductions help lower your gross ta... ]]> Mon, 24 Jan 2011 00:00:00 GMT aea1f8e5-c794-4780-85ce-0d31c3170d2c Auto Insurance It’s no secret that teenagers like to sleep, but what comes as a surprise is that lack of sleep in teens could be tied to risky behaviors including driving skills. According to sleep researchers, sleep deprivation can be as detrimental to a drive... ]]> Thu, 20 Jan 2011 00:00:00 GMT 1962d350-0124-4d9e-b9f3-65ea4f2d9b7e Auto Insurance US Transportation Department Secretary Ray LaHood has it out for distracted drivers, specifically all you mobile phone users, hand-held and hands-free. To date, his campaign has resulted in bans on texting or talking while driving in 30 states. His lat... ]]> Tue, 11 Jan 2011 00:00:00 GMT c506ee6c-c26b-4a77-a625-297f3adb8cb1 Auto Insurance Looking for cheap car insurance? If you don’t put a lot of miles on your car each year, Pay As You Drive may be your ticket to car insurance savings. Also called usage-based, distance-based and per-mile pricing, Pay As You Drive (PAYD) is gaining... ]]> Wed, 05 Jan 2011 00:00:00 GMT 417d1993-0150-41a5-8eb4-6086419d2693 Auto Insurance As another New Year’s Eve approaches, reflect on some data before you head for a party or host one.  You might also want to think about a couple of mundane items, including your car insurance and the impact a drunk driving convictio... ]]> Sat, 27 Nov 2010 00:00:00 GMT 8091768a-3e2a-4777-84e3-f8ceb9d51c12 Auto Insurance Almost every state and the District of Columbia requires that you carry a minimum level of car insurance as a condition of registering and operating a vehicle. Some states also add uninsured/underinsured motorist coverage to their minimum requirements.... ]]> Sun, 21 Nov 2010 00:00:00 GMT 5c59fe09-9abc-4aa3-8b11-af75700b2607 Auto Insurance You might never put yourself in the same category as a marijuana or a cocaine user, but if you take certain prescriptions or over-the-counter drugs and get behind the wheel of an automobile, you’re driving under the influence. You can be ticketed... ]]> Wed, 17 Nov 2010 00:00:00 GMT fe1ffa4e-351d-40dc-a6aa-47dd4b609ee1 Auto Insurance If you’re like every other small business owner in today’s economy, you’re scrambling around for ways to save money. Consider commercial fleet insurance. As you’re reviewing your business insurance coverage(always a good plan at... ]]> Tue, 16 Nov 2010 00:00:00 GMT 7067906c-1c72-4ac3-a498-c729cad65df8 Auto Insurance Here comes Santa Claus, only he’s driving a big red monster truck and he’s riding your tail going 70mph. Quick, what do you do when he swerves around you and gives you a one-finger salute before he cuts you off? If you’re like half of... ]]> Sat, 13 Nov 2010 00:00:00 GMT 91309983-f8aa-4dab-b391-a3c308e41401 Auto Insurance Seeing a flashing red light in your rear...

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Benefit Solutions Group Joins Heffernan Insurance Brokers in St. Louis

Heffernan Insurance Brokers is expanding in St. Louis, Mo., with the addition of Benefits Solutions Group, also of St. Louis.

The Benefit Solutions Group will relocate to Heffernan’s offices in 2013 to work as a united team.  Linda Huber, of Benefit Solutions Group has been named Heffernan’s senior vice president and employee benefits practice leader for St. Louis.

Headquartered in Walnut Creek, Calif., Heffernan has offices in San Francisco, Petaluma, Menlo Park, Los Angeles and Orange County, Calif.; Portland, Ore.; St. Louis, Mo., and New York, N.Y.

Source: Heffernan Insurance Brokers


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Combined Agents of America Adds 5 New Kansas-Based Members

Combined Agents of America LLC (CAA) has expanded further into Kansas with the addition of five new agency members: Fuqua Ruth Typer Insurance; SBS Insurance Agency; Keller-Leopold Insurance Inc.; Wood-Dulohery Insurance; and ICI Insurance Brokers.

Together these new members bring more than $65 million in premium growth to CAA, and a wide geographic spread of agency coverage in Kansas.

In 2011, CAA generated more than $505.8 million in combined property and casualty annual premiums.

CAA’s new members will grow its membership to 52 insurance agency members.

Fuqua Ruth Typer Insurance is a family owned and operated insurance agency with offices in Hesston and Newton, Kan., providing quality insurance solutions to clients in Kansas, Missouri and Oklahoma.

ICI Insurance Brokers, established in 1885, is a consultative insurance broker providing personal and business insurance for clients in El Dorado, Emporia, Derby, Wichita and the surrounding areas of Kansas. The agency’s official corporate name is Insurance Center Inc.

Keller-Leopold Insurance Inc. was founded in Garden City in 1943. It is a multi-line insurance agency serving the residents of Southwest Kansas with offices in Garden City, Dodge City, Cimarron, Syracuse, Bucklin and Ness City.

SBS Insurance Agency is a locally owned and operated insurance agency based in Seneca, Kansas. SBS Insurance is officially licensed as Runnebaum Inc.

Wood-Dulohery Insurance Inc. was founded in Parsons in 1961. Today the agency provides personal and commercial insurance coverage to residents in Southeast Kansas with offices in Parsons and Pittsburg, Kan.

Founded in 1997 Combined Agents of America LLC (CAA) is based in Austin, Texas, and is comprised of 52 independent insurance agencies located throughout Texas, Oklahoma and Kansas.

Source: CAA


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R.I.-Based Narragansett Bay Insurance Co. Names New CFO

Pawtucket, R.I.-based Narragansett Bay Insurance Co. named Kirk Lusk as the new chief financial officer.

Kirk Lusk

As CFO, Lusk will provide financial oversight including developing operating and financial strategic plans.

Lusk brings 20 years of finance and insurance experience working as an underwriter, controller and CFO. He recently worked as vice president of finance for The Hartford, where he provided financial oversight to the company’s commercial markets including sales and distribution, claims, and the strategic initiatives office.

He also worked for four years as CFO – international for Aetna, where he was responsible for the overall financial operations for 20 legal entities in the United States, Bermuda, China, Dubai, Ireland and the UK. He also served as the group CFO and chief operating officer of the Alea Group and as CFO of both GE Employers Reinsurance Global Casualty and GE Capital (Auto Warranty Services).

Narragansett Bay Insurance offers specialty insurance services and products to homeowners through a network of independent agents along the eastern seaboard. The company provides homeowners coverage in Massachusetts, New Jersey, New York and Rhode Island – with plans to add additional states.

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Thứ Ba, 29 tháng 1, 2013

Judge Freezes Assets of Owners of Meningitis-Linked Pharmacy

A bankruptcy judge on Monday froze the assets of the owners of the pharmacy linked to a deadly U.S. meningitis outbreak.

Orders signed by U.S. Bankruptcy Judge Henry Boroff temporarily restrict the owners of New England Compounding Center (NECC) from selling their luxury homes or spending up to $21 million they received last year in salary and shareholder distributions.

NECC filed for bankruptcy protection in December after U.S. authorities shut down its pharmacy operations amid a meningitis outbreak that has killed 44 people and sickened nearly 700 others, according to the U.S. Centers for Disease Control.

An FDA agent stood at the doorway of NECC in Framingham, Mass., Oct. 16, 2012, as investigators worked inside. The company's steroid medication has been linked to a deadly meningitis outbreak. (AP Photo/Bill Sikes)

Boroff also ordered three companies affiliated with NECC, including Ameridose LLC, from paying money to the individual owners. Ameridose has paid money to NECC, though, to fund its legal defense and bankruptcy counsel, court filings show.

“This is a victory for the creditors committee,” said Anne Andrews of Andrews & Thornton of Irvine, California, a co-chair of the creditors committee.

The judge’s rulings came in response to an emergency motion of the Official Committee of Unsecured Creditors. The group launched an investigation after the payments to the owners were revealed Jan. 18 in court filings. The creditors’ group, which includes meningitis victims, then sought and received court orders that restrict the sale of owners’ real estate and spending down their bank accounts, according to court papers.

Recent disclosures show how privately-held NECC’s largest shareholder Carla Conigliaro, for example, received nearly $9 million in 2012, according to court papers.

In addition, Barry Cadden, NECC’s chief pharmacist, received about $3.2 million in 2012, filings show. His wife, Lisa Cadden, received about $2.8 million. Greg Conigliaro, a recycling entrepreneur who is Lisa Cadden’s brother and Carla Conigliaro’s brother-in-law, received about $1.6 million, court papers show.

In a statement issued after the payments were revealed, NECC said a large portion of the distributions to owners were for taxes that were coming due.

“The cash flow patterns and expenditures identified as part of the Chapter 11 process were consistent with the routine operations of NECC throughout 2012,” NECC said last week. The company also said there were no indications the pharmacy would experience financial distress in the fourth quarter of 2012.

Last year, NECC shipped thousands of vials of a fungus-tainted steroid to medical facilities throughout the United States, according to authorities. More than 14,000 people have been exposed to the drugs, which were typically injected to ease back pain.


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Treasury Pay Czar Allowed Excessive Pay at Bailed-Out AIG, GM: Inspector General

The U.S. Treasury Department in 2012 failed to curb executive pay at companies rescued with taxpayer funds, the second straight year that it did not live up to its own rules, an internal watchdog said on Monday.

The inspector general for the government’s bailout program had harsh words for Treasury’s Office of the Special Master, the “pay czar” charged with setting compensation for companies that received rescue funds during the financial crisis.

“While taxpayers struggle to overcome the recent financial crisis and look to the U.S. government to put a lid on compensation for executives of firms whose missteps nearly crippled the U.S. financial system, the U.S. Department of the Treasury continues to allow excessive executive pay,” the report said.

In 2012, the pay czar acceded to company requests in approving multi-million-dollar pay packages and pay hikes for top executives at General Motors, AIG and Ally Financial.

The Special Master approved all 18 pay raises requested by the companies, for a total of $6.2 million, and approved pay packages of at least $1 million for 68 of the 69 employees at the companies it was overseeing, the report found.

The government’s Troubled Asset Relief Program, known as TARP, had pumped $68 billion into AIG, $50 billion in GM and $17 billion in Ally Financial, among others, to save them from collapse during the 2007-2009 crisis.

The special inspector general, Christy Romero, said it was not surprising companies asked for large pay packages and higher pay.

“But what we saw in 2012 that is somewhat different than prior years is that this time the companies pushed back on pay, but they seemed to have met no resistance,” she said in an interview.

Romero is tasked with overseeing TARP.

In December, the Treasury sold the last of its common stock in insurer AIG and said it plans to sell its remaining shares in automaker GM in the next year or so, leaving Ally as the last major company that still owes money to the government under TARP.

The acting pay czar, Patricia Geoghegan, said her office achieved its mission, cutting average cash compensation for the top 25 executives at bailed-out companies by more than 90 percent from what they were getting prior to the TARP bailout, and cut average total pay by more than 50 percent.

In 2011 and 2012, the office also froze pay for the chief executives of General Motors, AIG and Ally Financial.

In a Jan. 25 letter accompanying the report, Geoghegan said she disagreed with the findings. She said her office “has sought the appropriate balance” between its competing priorities, which include curbing compensation that would encourage risk-taking, but also ensuring that companies remain competitive with their peers and able to repay TARP funds.

Last year, Romero’s office found pressure from financial institutions undermined efforts to limit executive pay at bailed-out companies, especially as some Treasury officials were more concerned with getting TARP funds back than in limiting pay.

Romero said the situation has worsened since then. Contrary to recommendations the inspector general made last year, the pay czar’s office has not developed procedures for how to decide compensation or when to determine high salaries are warranted.

“Without developing some criteria … Treasury put itself in a position of essentially letting the companies drive what pay Treasury was approving,” she said.

Under the rules governing pay for TARP recipients, cash salaries are supposed to rarely exceed $500,000. But in 2012, 23 of the 69 top executives at TARP recipients had cash salaries exceeding that level, a number that has quadrupled since 2009, the report said. And 94 percent received cash compensation of $450,000 or more.

Romero said in one situation, the Treasury approved a pay raise of $50,000 for one GM employee because the company wanted to “do a little extra for him.”

“This shows the complete lack of appreciation that GM has for the fact that they’re owned by taxpayers, and that Americans are in tight budgets and don’t have any extra” funds, she said.

In another case, the pay czar approved a $200,000 pay raise for an employee of Residential Capital LLC, the bankrupt mortgage lending unit of Ally, despite knowing the unit was about to go bankrupt.

In response to the report, GM and Ally Financial both said they have complied with all TARP restrictions. Ally said it was focused on repaying all remaining Treasury funds.

Romero said the government’s pay curbs were unlikely to have a lasting impact.

The report found it likely AIG will return to its “past practices” in setting high executive compensation now that it has repaid the government’s TARP funds.

“The responsibility shifts to the Federal Reserve Board to ensure that AIG does not encourage excessive risk-taking through compensation,” the report said.

AIG spokesman Jon Diat said the company is currently examining what portion of total employee pay should be tied to incentives, reflecting “our absolute commitment to pay for performance in a post-TARP environment.”


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Monsanto $93 Million Settlement with West Virginia Residents Approved

A judge has given final approval to a settlement between chemical manufacturer Monsanto Co. and thousands of West Virginia residents over pollution claims.

Circuit Judge Derek Swope in Putnam County approved the settlement in a 385-page order.

A $93 million settlement was reached last February with residents who said Monsanto polluted their community by burning waste from production of the defoliant Agent Orange.

St. Louis-based Monsanto had agreed to pay up to $84 million for medical monitoring and $9 million to clean up 4,500 homes. Monsanto also agreed to pay legal fees.

The litigation began with a lawsuit by plant workers in the mid-1980s. Cases involving current and former residents were consolidated into a class-action lawsuit in 2008.

Swope dismissed objections to the settlement, calling it an “all or nothing” approval. Some class members had argued the settlement wasn’t fair and reasonable.

“Any objection that asserts that the settlements could have been better must be rejected because the question is not whether the actual settlements could have been better, but whether the actual settlements are fair, adequate, and reasonable,” Swope wrote.

The Monsanto plant in Nitro produced herbicides, rubber products and other chemicals. The plant’s production of the defoliant Agent Orange created dioxin as a toxic chemical byproduct.

Dioxin has been linked to cancer, birth defects, learning disabilities, endometriosis, infertility and suppressed immune functions. It builds up in tissue over time, so even small exposures can accumulate to dangerous levels.

The Nitro plant closed in 2004.

Swope, a Mercer County circuit judge, was appointed by the state Supreme Court to preside in the case when Putnam County Circuit Judge O.C. Spaulding stepped aside after being diagnosed with ALS, or Lou Gehrig’s disease.

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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