Cigna Gives $110.9 Million Compensation Package To Ex-CEO
OPS_admin | Mar 20, 2010 | Comments 0
The insurance giant Cigna last year gave compensation packages worth more than $120 million to two executives who left the company, according to a filing with the SEC on Friday.
The vast majority of that total went to former chairman and CEO H. Edward Hanway who left his post with a retirement package worth $110.9 million — which included $18.8 million in executive compensation for 2009, as well as a healthy pension plan, deferred compensation and stock options.
With more than $19 billion in revenues reported in 2008, Cigna remains one of the most profitable insurers in the country. Though, unlike some of its competitors, it does not appear to have raised premiums on customers in an effort to improve somewhat sagging recent profits.
Full Story: Cigna Gives $110.9 Million Compensation Package To Ex-CEO.
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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. 
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