Declarations

Taking Care

“At the end of the day, we’re going to make sure everyone is taken care of.”

—North Carolina Gov. Mike Easley upon touring Johnston and Wilson counties after a weekend tornado killed two people and damaged or destroyed more than 60 homes.

Bar Demand

“As President of the Bar, I am making a formal request and demand that you investigate these matters to determine whether the laws of Alabama have been violated.”

—Alabama Bar President Mark White of Birmingham in a letter to Attorney General Troy King asking him to investigate the conduct of several politically active groups that got involved in the race for the state Supreme Court. White said he wants to know if any laws were broken by the Center for Individual Freedom, Alabama Voters Against Lawsuit Abuse or Americans in Contact Political Action Committee.

Still a Struggle

“It is a struggle. That is not unique to Habitat families. It’s a struggle to most first-time buyers.”

—Chris Monforton, chief executive officer for Habitat for Humanity of the Mississippi Gulf Coast, noting that only six of the 30 homes the group built are filled because potential homeowners are having a hard time coming up with about $3,000 in an escrow account for a year’s worth of insurance.

AIG Deferred Pay

“AIG has decided to terminate and pay out the deferred pay plans to remove the incentive for employees to leave in order to obtain their deferred pay.”

—Andrew Kaslow, senior vice president, Human Resources for American International Group, explaining that it is terminating 14 voluntary deferred compensation programs involving 5,600 employees and independent agents and representatives. Approximately $500 million in earned but deferred pay will be distributed in the first quarter of 2009. Under the majority of AIG’s deferred pay plans, participants can only access deferred pay when they retire or leave the company. AIG is concerned that employees will leave AIG so they can obtain their deferred pay.

Last Resort Beach

“Because the Beach Plan has drifted from its market-of-last-resort mandate, this effort is a must even though North Carolina has not experienced a significant storm in recent history. In fact, it’s best that we make changes before a catastrophe creates the chaos and devastating market effects experienced by other states.”

—Liz Reynolds, Southeast state manager for the National Association of Mutual Insurance Companies, in a letter to lawmakers urging them to reform the state’s property market of last resort before it is too late.

Topics Alabama AIG