Articles Posted October 2009
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Dead Peasants Insurance Policies
I learned about a new low in corporate greed from Michael Moore’s latest documentary “Capitalism: A Love Story,” which, by the way, I highly recommend. It is called “dead peasants” insurance. Companies take out secret insurance policies on their employees and name themselves as beneficiaries. And we are not talking about key employees since losing their expertise, knowledge and contacts of top managers can be financially devastating for companies. But companies also write policies for rank-and-file employees. When the employee dies, the company, not his or her family, gets the insurance money. In Moore’s movie, Wal-Mart took out a secret policy on a cake decorator, and when she died, Wal-Mart received $80,000, but her family received nothing.
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Overheard: Radulovich, Hall, Plotting Candidacies?
Hall, you’ll recall, was forced to drop out of the 2007 race for mayor and, subsequently, the 2008 race for District 7 supervisor when a “politically motivated†anonymous complaint filed with the San Francisco Ethics Commission triggered a yearlong investigation into alleged campaign finance violations by Hall in connection with his 2004 re-election campaign for supervisor. Hall believes the anonymous complaint was penned by Attorney Jim Sutton on behalf of Mayor Gavin Newsom and Supervisor Sean Elsbernd to eliminate Hall as a threat to Newsom and Elsbernd’s respective re-election campaigns.
The Hunger Site
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