Monthly Archives: <span>August 2014</span>

Uber Hires Obama Campaign Strategist; Expands Into Courier Service

Uber has enlisted David Plouffe, President Barack Obama’s 2008 campaign manager, to devise and run its global political and branding strategy, as the fast-expanding car rides-on-demand startup runs into stiff resistance in some cities. The San Francisco-based company, which is …

Freedom Industries’ Insurance Settlement Plan Favors Nonprofits

Freedom Industries Inc., whose leaking chemical tank made much of West Virginia’s water undrinkable early this year, filed a proposed Chapter 11 plan this week that offers nothing to people with claims for polluted water. Instead, proceeds from a settlement …

Asbestos Claimants Urged to Oppose Garlock Reorganization Plan

The official committee representing creditors with asbestos claims against Garlock Sealing Technologies LLC will urge its constituents to vote against the company’s reorganization plan, even though Garlock said it pays claimants in full. The official representative of future asbestos claimants, …

No Protection for Foreign Whistleblowers at Overseas Firms: Court

Foreign whistleblowers who work for overseas companies can’t be protected from retaliatory firings for disclosing conduct that happens abroad, a federal appeals court held. The U.S. Court of Appeals in Manhattan found in a case involving Siemens AG that an …

IAG Posts US$1.467 Billion 2014 Fiscal Year Operating Profit

Insurance Australia Group Limited (IAG) announced a strong operating performance for the financial year ended June 30, 2014 (FY14), posting an insurance profit of A$1.579 billion [US$1.467 billion] for the year, up 10.6 percent from A$1.428 billion [US$1.326 billion] for …

Weakening Operating Fundamentals Tip Reinsurers’ Outlook to Negative: A.M. Best

A.M. Best announced that it has “revised its ratings outlook on the global reinsurance sector to negative from stable, citing the significant ongoing market challenges that will hinder the potential for positive rating outlooks or upgrades, and over time, may …

Canada Railway Audit ‘Inadequate’ before Lac-Mégantic Disaster: Official Report

The Canadian government did not adequately audit the railroad company at the center of the Lac-Mégantic crude tanker disaster, which last year killed 47 people, an independent federal agency said on Tuesday, as it called for tougher scrutiny of the …

Ping An Profit Rises 19% on Higher Bank Revenue, Premium Income

Ping An Insurance (Group) Co., China’s second-largest insurer, said first-half profit grew 19 percent as premium income climbed and banking revenue increased. Net income rose to 21.4 billion yuan ($3.5 billion), or a diluted 2.55 yuan [$0.41] a share, from …

Jeffrey Vick Joins Breckenridge Insurance Services Chicago-Based Team

KENNESAW, Ga., August 20, 2014 — Breckenridge Insurance Services, the wholesale commercial brokerage division of Breckenridge Insurance Group, has hired Jeffrey Vick as a vice president as part of the Chicago-based team. With 25 years of experience, Vick brings added …

Maine Woman Sues GM, Claims Burn From Heated Car Seat

A Maine woman who says she suffered a third-degree burn from a heated seat in Chevrolet Suburban has sued General Motors. Emma Verrill says in her suit filed in U.S. District Court in Portland, Maine, that GM failed to adequately …