MEMPHIS, Tenn.—FedEx Corp. is expanding its cash balance pension plan to cover all eligible employees and also is beefing up its 401(k) plan. Nearly four years ago, FedEx adopted a cash balance plan, offering it to employees hired on or after June 1, 2003. At the time, current employees were given...
February, 2007
Most Americans are not prepared to deal with the possibility of becoming disabled and, in turn, unable to work, according to new research by the National Association of Insurance Commissioners (NAIC). More than half (56 percent) of U.S. adults say they would be unable to pay their bills or meet expenses if they became disabled and could not work for a year or longer, according to a January NAIC national consumer survey fielded by International Communications Research.
Majority of Americans Unprepared for Financial Impact of Disability, NAIC Study Shows
Source: Insurance News Net
Old Mutual Financial Network has introduced the Beacon Navigator flexible-premium variable annuity.
Old Mutual, Atlanta, a unit of Old Mutual P.L.C., London, will be selling the contract through independent managing general agents, the company says.
Annuity purchasers can buy an account protection package that will give annuitants and their spouses a guaranteed minimum withdrawal benefit of 5% per year.
Carrier to Sell VA Contract Through Independent MGAs
Source: National Underwriter (subscription required)
Western & Southern Financial Group® (Western & Southern) announced today that it achieved record financial results in 2006 with net income of $306.1 million, a 14 percent increase over $267.8 million earned in 2005. According to John F. Barrett, Western & Southern chairman, president and chief executive officer, the growth in net income was the result of record operating earnings of $280.5 million, up 22 percent over $229.6 million in 2005, coupled with very solid investment performance.
Western & Southern Financial Group® Achieves Record Financial Results and Sharpens Focus on Core Businesses
Source: dBusiness News
John Hancock Financial Services said today that full year sales of variable annuities reached a record $9.1 billion in 2006, up from their previous record of $7.9 billion in 2005. This full year increase of 15% marks the third consecutive year John Hancock has achieved record variable annuity sales growth.
John Hancock Sets Variable Annuity Sales Record in 2006
Source: Yahoo! Finance
SAN FRANCISCO—The San Francisco-based Fair Employment and Housing Commission has issued new proposed regulations intended to clarify California legislation that requires employers to provide sexual harassment prevention training. The commission had issued its final proposed regulations last...
I had to come to our office in Phoenix today and am just now able to check in on the blog; thank you for all the comments!Last week I mentioned the Latvian lat (the currency there) as being vulnerable to some sort of Iceland-like episode. This morning I found this article in the International Herald Tribune about the same thing and also mentions a couple of other countries in the region that are less at risk but at some risk nonetheless.I believe generally knowing about these things is useful. Knowing that China has been frothy for the last couple of months (or longer?) and that government officials were concerned (Tuesday was not the first time the officials expressed at least a little concern) may have helped make ...
Like yesterday, I'm doing very little other than running of few screens, taking notes on which stocks held up well yesterday and which ones are performing the best and worst today. That's how to spend your time instead of hoping...
Filed under: Deals, Press releases, Products and services, Consumer experience, Competitive strategy, IAC/InterActiveCorp (IACI)Match.com, which is owned by IAC/InteractiveCorp. (NASDAQ: IACI), has certainly been a big-time winner. It has a dominant brand, massive customer base and lots of cash flow. For example, in 2006, revenues increased 25% to $311.2 million. The problem is that the online dating market is getting pretty saturated in the US.So, as should be no surprise, Match.com is expanding into foreign territory. Today, the company announced that it is purchasing eDodo (China) and Netclub (France). Of the two, the deal for eDodo looks to be the better one. The site has 180,000 paid members and is attracting 3,000 new ones every day. Of course, the market opportunity is massive with about 64 million online ...
Filed under: Analyst reports, Good news, Employees, Altria Group (MO), Options, Bargain stocksAltria Group Inc. (NYSE: MO) opened at $83.03. So far today the stock has hit a low of $83.00 and a high of $84.65. As of 2:00 this afternoon, MO is trading at $84.12, up $1.91 (2.3%).The stock rose to a one year high of $90.50 in January, but broke through support at $85 in yesterday's sell-off. Jim Cramer notes that in a time of market panic like we are seeing now, MO is a good stock to hold onto. Cramer believes that Altria is a solid stock that went down more than it should have as a result of panic yesterday, and that it will recover faster than most other stocks. Altria is the type ...
