Current Events — HabitableZone

Current Events

Here is why health insurance costs are so high.

http://www.newsoftheweird.com/archive/index.html

In April issues of The New York Times and The Wall Street Journal, the chief executives of two huge companies in politically sensitive industries were revealed to have received such extravagant bonuses or stock options that even veteran industry observers were said to be shocked. While customers of both companies are chronically panicked about rising prices, Lee Raymond, who retired as CEO of ExxonMobil in December, was reported by the Times to have received the equivalent of $144,000 every day for 13 years, and William McGuire, CEO since 1996 of the highly profitable health-insurance manager United Healthcare, was reported by the Journal to be sitting on stock options that, because they were mysteriously timed to kick in at the best possible date, are worth $1.6 billion. [New York Times, 4-15-06] [Wall Street Journal, 4-18-06]


All else having failed, it may be time for legal measures to rein in executive compensation.

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