Entries For November 2009

The LG Blog: 9-11 Trial Doesn't Belong in NYC
Posted by Larry Goanos at 11:11 AM
 

 

The good people at PLUS afforded me the opportunity to blog about the 2009 PLUS International Conference on this website in mid-November.  I had fun doing it, and I hope that some of you enjoyed reading my postings.   This may be hard to believe, but not only did PLUS not pull the plug on my blogging before the conference was over (despite 7-2 Vegas odds that it would), but I was actually offered continued use of this forum to post my opinions, updates on industry happenings, etc.  For this, I thank the senior managers of PLUS once again.  Hopefully I will not disappoint (I don't want to know the Vegas line on that one.)

 

I probably won’t post very frequently, but the issue of conducting the September 11th terrorist trial in downtown Manhattan has raised my ire and moved me to write.  I should note that if you’ll look around this blog site, you’ll see disclaimers stating that the opinions expressed by the bloggers are their own and not those of PLUS.  I’d like to reaffirm – and emphasize – that point.  If you disagree with my thoughts, I’d invite you to post a reply, but please don’t attribute my views to the PLUS organization or any of its managers.  In fact, I believe PLUS strengthened their disclaimers once they gave me the keys to the blog kingdom (well, not really, but I won’t be surprised if it happens…) 

 

You may question the relevance of the 9-11 trial to the insurance industry and the appropriateness of this topic appearing on the PLUS blog site.  But, then again, you may realize that the connections are deep. 

 

Our industry had the second-highest number of 9-11 fatalities of any business sector (Marsh and Aon alone accounted for almost 500 deaths.)    The human toll of September 11, 2001 on the insurance world was incalculable.  In my opinion, it dwarfed, in comparison, even that day’s catastrophic financial consequences.  And, of course, our industry is tethered to this issue because many insurance companies are headquartered in Manhattan and/or have a significant presence here, so their employees will be in close proximity to the proceedings, like it or not.

 

I strongly believe that this trial does not belong in New York City.  My reasons are manifold but, in the interest of (relative) brevity, I will lay out only a few.

 

First, there is no logical basis to give these despicable defendants such a high-profile forum as New York City to spew their anti-American views.  This city is the world’s biggest and brightest media stage.  The terrorists didn’t elect to attack the Sears Tower in Chicago or the Transamerica Building in San Francisco for a reason: they are not in the world’s media and financial capital.  The cowards behind the 9-11 attacks may have been able to decide the high-profile location of their atrocities, but we shouldn’t allow those choices to dictate the venue of their prosecutions.  Reporters will turn out in droves no matter where this trial occurs, but it will greatly reduce the public relations value of the proceedings to the terrorists’ cause (whatever that may be) if they are forced to defend themselves in Topeka or Cheyenne or, better yet, Guantanamo Bay.  It’s plainly evident that these defendants much prefer to conduct their rants on the big stage of New York City.  What attention seeker wouldn’t?

 

My second reason is more emotional, but no less compelling.

 

I don’t know much about U.S. Attorney General Eric Holder, but minimal research shows that he grew up in East Elmhurst, Queens and attended Columbia University and Columbia Law School.  So he certainly has a flavor of New York City and, most likely, still has roots here.  Whether he was in Manhattan on September 11, 2001 I don’t know, but, of course, it’s irrelevant; the pain and devastation of that day was, and still is, felt nationwide, and I’m sure he experienced it like all other Americans.   

 

I was downtown working for AIG on September 11th and for about 30 minutes I feared that I might lose my life from inhaling the mammoth cloud of smoke that mushroomed from the North Tower’s collapse. Someone near me yelled in the bedlam that the smoke “might be poison.”  In the year that followed I cried frequently when thinking of lost friends and colleagues and our shattered American way of life.  I’m sure many of you did too.  And, I’m certain, people who lost close relatives broke down much more frequently, and intensely, than I did.  It’s a horrible emotional scar for every American, but particularly so for the people who inhabit Manhattan island for all or part of every day.  Why do we need to rip open those never-to-heal scabs by conducting such a high-profile, in-your-face trial in this city?  Do the survivors deserve to have this bright-light reminder of that worst of all days directed squarely into their eyes eight years later?  It will be a long, drawn out torture session.  The Band-Aid will be pulled back slowly and painfully, but it will never fully come away. 

 

Below is an excerpt from a book I wrote last year about professional lines insurance.  This, I assure you, is not a thinly-veiled commercial for the book (I’m not good with the thin veil, I’m more of a club-over-the-head type of guy….) In fact, I’m not even going to mention its name or how to order it.  But I would like to share this:

 

*        *        *

 

My friend Dennis and I met twenty five years ago, when we were both in college.  He came to live for a summer with the Campaniles, close family friends of ours who live down the block from my childhood home at the Jersey Shore.  A Virginia native, Dennis was interning for the summer with Kidder, Peabody on Wall Street.  He is now Father Dennis, a Catholic priest in the New York Archdiocese.  One of Father Dennis’s good friends, Father George, was an auxiliary chaplain with the New York City Fire Department in September of 2001.  He was summoned to the World Trade Center shortly after the first plane hit on the morning of September 11th.  That day, I was told, marked the first time in the history of the New York City Fire Department that all 30 auxiliary chaplains were summoned to a single fire.  They gathered at St. Peter’s Church on Barclay Street, about two blocks north of the burning towers. 

 

Father George said that virtually every fire truck racing to the World Trade Center stopped at St. Peter’s so that the crews could confess their sins (the majority of NYC firefighters are Roman Catholic) before charging into the flaming buildings.  The commanders admonished their subordinates to skip confession because of the magnitude and urgency of the situation, but the rank-and-file firefighters paid no heed.  These men forced almost every truck to stop at the St. Peter’s on what would be the final fire call for most of them.  Father George sensed that these brave men did not necessarily foresee the Twin Towers collapsing, but they knew that they would very likely lose their lives saving others and they wanted to square up with God first.  So many firefighters stopped for this final holy sacrament – despite the unprecedented importance of their mission – that the priests had to absolve them of their sins en masse as they jumped off the trucks.  There was no time for individual confessions.  These courageous public servants knew that they were going to die, and yet they pressed onward to discharge their duties.  In the face of the fiercest fires anyone had ever seen, they had no thoughts of their own safety, only of saving others.  Ironically, St. Peter is believed to usher the deceased through the Gates of Heaven.  Perhaps on September 11, 2001 his work began for 343 firefighters at a church bearing his name.   

 

*        *        *

 

The majority of those 343 courageous firefighters lived in, or near, New York City (note: the same is true, of course, of the law enforcement officers, emergency medical technicians and many civilian heroes who died at the World Trade Center.)  If it were possible to poll those  343 brave souls on whether they’d like the architects of their murders to be tried in New York City, in plain sight of their still-grieving loved ones, my guess is that the vote would be 343 – 0 against creating such an emotional ordeal for the survivors.  Don’t we owe those heroes and their memory something?

 

Third, no matter how much the government assures us to the contrary, conducting the trial in Manhattan will pose an increased security risk to a local population that has already suffered enough terrorist mayhem.  People who live and/or work in Manhattan are, visibly or not, continually on edge to some extent with respect to the prospect of additional terrorist attacks. Why does our federal government choose to needlessly exacerbate that anxiety?  The trial is currently projected to last at least a year.  That's quite a while for this ordeal to drag on -- and it may very well go longer.  

 

The rationale for holding this trial in New York City really escapes me. These cowards were not here when their crimes occurred.  And their evil also wrought destruction in Washington, D.C. and Pennsylvania, although, admittedly, not as much.  The planes that did this destruction took off from Boston, Virginia (Dulles Airport) and Newark. The so-called “Shoe Bomber’s” flight took off from Boston and the Justice Department decided to hold his trial in that city.  Where is the logical consistency with the current decision?  Mr. Holder has publicly stated that the proper venue for a trial of the terrorists behind the USS Cole attack would be a military tribunal because they attacked a U.S. military target.  Was not the Pentagon a U.S. military target?  

 

Is there a political agenda behind this decision to conduct the trial in New York City?  It seems to be the ineluctable conclusion.  The 9-11 atrocities were acts of war against our government; the victims were not known to, or specifically intended targets of, their killers.  Since when are war criminals, particularly those who committed their acts (i.e. the planning) overseas, tried in the civilian courts of Manhattan?  This, it seems to me, is an unprecedented act of stupidity and political grandstanding.

 

Many would say that the American justice system is the fairest on earth (I agree) and that these defendants deserve an even-handed and open trial, such as would, theoretically, be conducted in New York.  But is that really possible?  Any juror who was living or working in New York City at that time, and even in just more recent years, will have a difficult time being truly independent and fair.  I can tell you that if I learned that any of these defendants so much as helped a conspirator find an outlet to plug in their laptop during the planning stages, I would be quick to hand down the severest punishment allowed.  

 

The father of Todd Beamer, the civilian hero who helped force down United Airlines Flight 93 in a Pennsylvania field at the cost of his life, is fervently opposed to holding this trial in New York City.  He recently attended a Senate Judiciary Committee hearing that reviewed the issue of the trial’s location.  In a Wall Street Journal op-ed (http://online.wsj.com/article/SB10001424052748704888404574547681569546414.html), David Beamer said that it was disconcerting to see how the divergence of opinion was drawn squarely along party lines, with Democrats favoring the administration’s decision and Republicans opposing it, although not as vigorously as he’d have liked.  The wishes of the victims’ families, he felt, were not sufficiently considered.  Unfortunately, that is not surprising.

 

This administration poked an insensitive finger in the eyes of all New Yorkers when it orchestrated a boneheaded fly-over photo op for Air Force One earlier this year.   Is there really a need to follow up on the callous stupidity of that act with this punch in the gut?  Hasn’t New York suffered enough?  

 

*        *        *

 

If you want to weigh in on this issue with the Department of Justice, its website says that you can send an e-mail to AskDOJ@usdoj.gov.  In the “re” line you should make it clear that you’re writing to Attorney General Eric Holder about the 9-11 trial.  If you’re so moved, please pass this information along to your friends as well. 

Comments 1 COMMENTS POSTED IN Opinion
Insurance / Risk Management Instructor Needed
Posted by Plus Master at 8:11 AM
 

PLUS Supported Initiative at University of Montana

The University of Montana School of Business Administration is recruiting a full-time
adjunct instructor to design and teach a series of courses in insurance/risk management beginning in the fall 2010 semester.

Position requires an advanced degree in either law or finance, recent relevant work experience with insuring professional liability at the national level. University teaching experience preferred. Applicant will be required to develop four university courses in insurance, with an emphasis in professional liability insurance, as well as select executive education training courses to be delivered at a distance to professionals.

Send a cover letter and resume to Amber Dudley (amber.dudley@business.umt.edu.)

Review of applications will begin immediately; position will remain open until December
18, 2009. Finalists will be subject to a criminal background investigation. This position
announcement can be made available in alternative formats upon request. AA/EOE.

Comments 3 COMMENTS POSTED IN Recent News General Industry News
2009 PLUS Conference - Article Recaps
Posted by Plus Master at 9:11 AM
 

National Underwriter has posted a series of articles based on some of the educational sessions from the 2009 PLUS International Conference.

Did D&O Fuel the Credit Crisis?  Find out here in this recap article of the session titled Executive Compensation, Corporate Governance, Global Warming: The Heat is On.

Also, there were two articles that came out of the session titled The Credit Crunch - What's Crime Got to Do With It?.  You can read them here:

Crime Policies, Bonds, Seen Slim Cover for Ponzi, Mortgage Scams

Madoff's Insurance Broker Gives New Details of His Coverage

For all of the presentations, please visit the following page of the PLUS Website (and click on the Material tab):

2009 PLUS International Conference

Comments 3 COMMENTS POSTED IN Recent News Directors and Officers General Industry News
Thanks to Larry G
Posted by Derek Hazeltine at 1:11 PM
 
Welcome back from the PLUS 2009 Conference. Wow! I hope all of you share the sentiments of our official-unofficial blogger, Larry Goanos, that it was one of our best ever.
 
Speaking of LG (author of Claims Made and Reported), wasn’t it fun to see how he spiced up our blog-space with his wit and photos on the road and during the Conference. Sophie, the blog-dog, was particularly fetching.
It was also fun to see all the name-dropping. All you had to do was buy LG a lunch. By my count, he had 11 lunches in 3 days.
 
We were going to buy him lunch, too, but we since he already mentioned a number of us by name it saved us the $1 we would have spent on him at MacDonald’s or Burger King for the burger du jour.
 
I know LG was too shy to mention his book (Claims Made and Reported) or to give you information about how to order it (go to www.sixthandspringbooks.com and click on “New Releases”). The book is full of fun backroom stories and anecdotes from the world of professional liability.
 
Our blog-master, Scott, did some quick analytics on Larry’s posts. We averaged around 900 visits on a daily basis originating from 24 different countries. 
 
So, other than shameless plugs for his book (Claims Made and Reported), we owe Larry a sincere thank you for relating his experiences from the road, working hard at the Foundation’s Conference Cause event at the Food Depository, posting 2009 Conference photos and sharing his sense of humor (notice I didn’t use the adjective “good”) as he blogged away for an entire week. Thanks Larry!
Comments 1 COMMENTS POSTED IN Recent News
Insurance and Economic Recovery
Posted by Plus Master at 10:11 AM
 

Fresh off of his presentation to a standing room only crowd at the PLUS International Conference, Dr. Robert Hartwig, CPCU, discusses Property Casualty Insurance and the economic recovery with Insurance Journal.

Comments 3 COMMENTS POSTED IN Recent News General Industry News
LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 11:11 PM
 

Ok, if you think that my trip out to Chicago last week was boring, the trip home surpassed it on the snooze-o-meter by a mile (or 900.)  I even followed a busload of cheerleaders for five hours but had no luck; their bus didn’t break down once.  Those dollar-store nails that I kept sprinkling in front of their tires were clearly defective.  Oh well…

 

You might remember that on the drive out I ragged on Indiana for having the slogan “Childhood Home of Lincoln” on its welcoming sign.  Well, curiously, on the way into Indiana from the other direction, Illinois, it says “Crossroads of America.”  What’s up with that?  Did they do a study that indicated that people are more interested in Lincoln when coming from the East and more interested in entering a “crossroads” when entering from the West?  Plus, it’s curious that they call it a “crossroads” since it’s not the geographic center of the country (a shout out to Lebanon, Kansas for that.)  Why Indiana claims to be the “crossroads,” I have no idea, but if you do, feel free to respond.  I assume that it’s just reflective of a dearth of other distinctions for the Hoosier State (and what is a Hoosier? I just checked; it’s an official designation – or demonym – for the people of Indiana.  They don’t call themselves Indianaians or the like, they are all Hoosiers.)

 

But I shouldn’t be so hard on Indiana; it is, after all, home to the Recreational Vehicle/Motor Home Hall of Fame.  And nothing I say can take that away from them.  I was actually going to pull off the exit in Elkhart to get a photo of the RV/MH HOF but it didn’t seem worth it and you’d be disappointed by the photo, I’m sure.  I passed it on Friday at about 2 pm and the parking lot was desolate.  Not a Hoosier in sight.  These are tough times for the RV/MH Hall of Fame folks.  Send along a check if you can.

 

Here’s a photo of my drive through Indiana:

 

 

Now here’s a photo of my drive through Ohio:

 

 

Strikingly similar, no?  I’d show you one of Pennsylvania but it would be identical.  In short, not much to see.  ZZZZzzzzzz.  Here is a photo of one of the best things along the 900-mile route, an Ohio rest area:

 

 

 

These babies have a circular design and are conducive to fast and efficient rest stops.  These are probably the best in the United States.  Indiana has rest stops that make you think you’ve pulled into Goober’s filling station back in Mayberry.  You half expect Floyd the Barber to greet you from a rocking chair as you walk in.  But other than that Indiana’s great.

 

Another observation: the Pittsburgh area has an inordinate number of hockey games broadcast on the radio on a Friday night.  I thought I was in Canada. My friend Dan O’Connell, who doesn’t feel that he’s been mentioned enough in these blog postings, is from Pittsburgh, so if the “comment” feature is working again I’ll expect him to weigh in on why Pittsburghers like their hockey so much.  And the rest areas from the Ohio border to Pittsburgh?  Fuggeddaboutit.  They’re frequented by people who look like they just got out of the hoosegow or are on their way back in.  Scary, yes.  Generally, other than in Ohio, the towns along my journey didn’t know from good rest areas.

 

So that’s about it, I wanted to wrap up before Monday morning, a week from when the journey began.  I hope you enjoyed my little blogging adventure; I’m thinking of continuing something on blogger.com but haven’t really decided yet.  Which reminds me to give a shout out to Kevin LaCroix of the most excellent D&O Diary blog (www.dandodiary.com)  He writes a very informative and useful blog (unlike this one) and, unbelievably, was able to post an insightful entry during the thick of the conference (which he attended.) Kudos to Kevin.  I strongly recommend that you check out his blog if you are at all interested in the professional lines corner of the industry.

 

In case you haven't see it, my final posting on the actual conference proceedings themselves, which was posted just before this entry, appears below and contains some closing-night party pix (always a crowd favorite.)

 

So that’s it folks, time to turn out the lights on the PLUS 2009 International Conference.  My thanks again to the PLUS people for their indulgence and to all the people (and states…) who I mentioned in the blog and may have good-naturedly skewered – it’s all in good fun, don’t sue!  As they say, “Any publicity is good publicity.”  Now please go forth and prosper. 

Comments 1 COMMENTS POSTED IN Upcoming Events
LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 11:11 PM
 

I’m back on the East Coast now, looking at the PLUS 2009 International Conference in the rearview mirror.  I will make two shorter posts; this one about Thursday’s evening’s networking proceedings (again, read: parties) and the other about my drive back from Chicago to the East Coast.   This is the networking event post.

 

Before I proceed, I should point out that a website technical glitch has prevented people from posting comments for the last few days.  I’m not sure when it will be fixed, but hopefully soon.  I thank those who e-mailed me to apprise me of this issue (these people would’ve, of course, posted positive comments about the blog had they been able…)

 

There were a number of late-night parties this year, including the ever-popular and somewhat-secretive Socius party.  You had to receive a wristband in person at the conference in order to attend (yes, I did get one, thank you Pat and Paul.)  As mentioned in a previous post, a group of nine law firms sponsored a party at the Lucky Strike bowling alley on Thursday night.  That was a rocking good time. Other Thursday parties not previously mentioned were thrown by Great American, Freedom Specialty, Guy Carpenter and W.R. Berkeley.  Your diligent blogger could not attend them all, but I gave it the old insurance try.  This is like the old college try but with less energy and persistence. 

 

Here are some pictures from the night’s proceedings:

 

 

Joe O’Neil (left), prominent Boston attorney and Jon Whitcomb (right), prominent Connecticut attorney and Don Draper-look alike, stop for the paparazzi, or, more accurately, the bloggarazzi, in a hotel lobby.  Thank goodness for Spell Check or I wouldn’t have had a shot at spelling “paparazzi” correctly. The guy in the middle wishes to remain annonymous (largely because I can't remember his name...)

 

The note in my Blackberry says that this is Larry Nelson and Janice.  I’m not sure if that means that Janice is married to Larry (and, hence, Janice Nelson) or just that she didn’t want to give me her last name.  I’m sure many people out there know the correct story and the others don’t care.

 

 

Matt Breetz of Kentucky, also known as "Kentucka Matt" (far right), boasts of having seen England Dan & John Ford Coley concerts in seven nations and 42 states before England Dan died this Spring.  Matt can sing “I’d Really Love to See You Tonight” in three languages.  Invite him to your karaoke night for some real fun!

 

 

This photo appeared in a previous blog but I needed to update the caption.  Dan McMahon is, in fact, a very worthy successor to Tom Wilson, Sr. at Wilson, Elser (I forgot about those excellent Yankee tickets WEMED has.)   And who needs Halle Berry in a photo when you have these three stars of WEMED?

 

 

 

Pandering for more blog ratings, here’s another photo of my sister’s dog Sophie.  Isn’t she cute?  Tell everyone you know to log in to see her.  Thank you.

 

 

Trying to top Phil Voluck and his “get” of President Bill Clinton, Elaine “The Litigation Train” Lenahan of Thompson Coe in Dallas (she’s undefeated in 143 trials) (I just made that up but it sounds good and she bought a lot of copies of my book so I owe her...) poses with her friend George Clooney who appeared at the Lucky Strike party for her.  Clooney was in Chicago to film the “Oceans 23” movie which will be hitting theatres in 2019. 

 

 

 

Richard Minor, seen here in a photo that he clearly didn’t want posted, plans to open a concession stand at next year’s conference to sell t-shirts that say “I Survived PLUS 2010.”  Assuming, of course, that he survives PLUS 2010.

 

 

All kidding aside, just for a moment, and I although I am the official PLUS blogger (to the extent that they let me post on the PLUS Blog website anyway; nobody ever actually said that I was “official” but I ran with it…), I must say that this was the biggest, and probably the best, PLUS International Conference ever.  Turnout was tremendous, the sessions were informative and timely, and people were as engaged in the proceedings as I’ve ever seen in my ten PLUS Conferences or so.   

 

A large number of individuals were responsible for the success of the 2009 Conference and its various components, but I’d like to single out those who I personally know played a big role in one way or another (alphabetically): Dan Auslander, David Bell, Scott Billey, Diane Dukes, Derek Hazeltine, Dan Jenney, Jeff Lattmann, Phil Voluck and David Williams.  I know I’m forgetting people on the Conference 2009 committee, and others who were instrumental in helping out, but I don’t have their names on hand.  However, I’m sure that many PLUS members know who those people are and saw what a great job they did.

 

So that’s the wrap up of the actual conference itself, the road trip wrap-up to follow shortly.  I hope you’ve enjoyed this blogging experience as much as I have (I may be available to blog for your event if you’re interested, have your people contact mine…) and I hope to see you all again next year at the 2010 Conference. 

Comments 1 COMMENTS POSTED IN Upcoming Events
LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 9:11 AM
 

Well kidz, the conference is rapidly drawing to a close and LG needs to hit the road soon for the long drive home to the East Coast (others have followed LG's lead and are renting cars to drive home because of expected airport delays accompanying the noreaster that is hitting in the northeast.)  It's been another wonderful PLUS International Conference and, as usual, the folks at PLUS did a great job on all fronts (especially with their wise decision to make me the official blogger!) 

I will post a final wrap-up note later in the weekend, or on Monday at the latest (with some more photos), so please be sure to check back.  You can also read all of the prior posts and still respond with your own comments so don't be shy about expressing your opinion (as long as it agrees with mine!

Have a great weekend everyone and a good trip home. 

 

 

 

 

Comments 1 COMMENTS POSTED IN Upcoming Events
LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 10:11 PM
 

"Oh no LG,  you can't be posting a blog mid-stream into the final night of parties, that's not possible." 

Well, think again Bluto because it is, in fact, possible.  And happening before your very eyes...

LG here, your citizen blogger, posting on the run after having attended some most excellent parties in order to feed your voracious desire to know what's happening at the Conference 2009.

Here are some pix to fill you in, dear non-attendee reader:

This is a photo of Dion Cominos, managing partner of Gordon & Rees (San Francisco HQ), and a senior member of FETA, with his arm around Nancy L. McCoy of the Basham Parker law firm of Walnut Creek, CA.  We're not sure why a competitor would be at Dion's party but we're sure that his wife will get to the bottom of it.

Here Patty Fitzgerald, also a FETA member, finds herself roped into a hug by Dion.  Patty was searching for the ladies room when she mistakenly walked into the Gordon & Rees party.  Dion's baby blue tie was cut from his senior prom tuxedo, very ecologically correct move.  Bravo Dion!

 

Dan McMahon, the new managing partner of Wilson Elser (and a questionable successor to Tom Wilson, Sr., who still has his fastball by all accounts) is pictured with Theresa Marangas (of the Albany office) and Ben Heller of the Chicago office.  Dan is still smarting from Charlie Weiss's poor stewardship of his Notre Dame Fighting Irish.  Ben proclaimed earlier this evening that he would like to buy stock in LG (honest, ask him...) and, therefore, he wins the "Lawyer of the Year" award from the LG blog (that's resume fodder if I ever saw it.)  Noticeably absent from this photo: Tom Wilson, Sr. (our favorite Wilson next to his great wife Eileen), Alex Betke (of the Albany office and a big LG blog fan) and Halle Berry. 

Mark Reilly and Lisa Ledo of CNA are shown enjoying the most excellent CNA party aboard a boat that didn't move, on the river next to the Sheraton.  Dan Auslander (who I hope will mention my blog tomorrow while doing the introductions at the last session) also hosted this great party.  Mark is a Villanova grad and big fan of the Wildcat hoops team which has been picked anywhere from 3rd thru 8th in preseason national polls.  I know you don't care, but I do, so pipe down.

Tom Wilson, Jr. (the apple fell far from the tree on this one, sorry folks...), Scott Schaffer (great lawyer and great guy and part-time "Claims Made & Reported" editor), and Ryan Turner (who should've been a partner long ago and will probably leave WEMED if they don't make him one shortly after this blog is posted: Ryan: you can just mail me a $100 check, I don't need the cash that you promised me) are pictured at the WEMED party.  Still noticeably absent: Alex Betke and Halle Berry. 

  

Teri White and Sandra Ramos helped organize the CNA party and never expected to be in a big-time insurance blog.  They still aren't. 

OK kidz, I have to get back out there to fulfill my citizen journalist duties.  This is a great PLUS conference, perhaps the best ever, and if you're not here this year you'd better get yourself to San Antonio next year, it promises to be awesome.

More to come from later in the evening....

 

Comments 4 COMMENTS POSTED IN Upcoming Events
LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 5:11 PM
 

Another blog posting hot on the heels of the previous…welcome, my friends, to the serious part of the blogosphere.  We are real bloggers here, not just occasional not-that-into-it bloggers.  I’m as prolific as that great former baseball player, Wade Bloggs.  The bad puns just keep coming…

 

I was remiss in pointing out that absent from our lunch (as depicted in the prior posting) was Robert Romero, a highly-decorated attorney from the San Francisco office of Hinshaw & Culbertson.  Robert was stuck in an arbitration in San Diego and couldn’t break away.  He was disappointed, he said, because the entire proceeding was rather arbitrary (actually, he’s not that witty, I just came up with that one…)  Also missing from this PLUS Conference is attorney Chris Betke of CoughlinBetke in Boston.  Chris is a great lawyer but takes his job too seriously and would rather stay in Boston doing legal work for clients than party his brains out in Chicago.  Party pooper.

 

SPECIAL OFFER FOR LG BLOG READERS: And, best of all, this is true, not BS.  The consortium of law firms which is hosting a party at the Lucky Strike bowling lanes tonight (it’s in the same building at the Embassy Suites Hotel, just a block down the hill from the Sheraton) @ 9:30 (until whenever) has said that anyone who shows up and says that they are a friend of Larry’s can enter the party.  This is not bovine excrement, they actually said this.  Now the rub is, of course, that not too many people are reading this, and even fewer still will actually show up, but there will be free food and drink and bowling, what could be better?  For Matt Breetz of Kentucka it’ll feel like he’s back at his wedding reception!  (I had to get one more cheap shot in at Matt, he’s an easy target and I couldn’t resist…)

 

There are a lot of parties going on tonight and LG is going to try to hit a representative cross-sample for blogging purposes.  As a big-time insurance blogger, LG will take the liberty of referring to himself in the third person from time-to-time.  Big time bloggers are like that.   

 

Tonight I will try to take pictures with actual women in them (they all seem to run the other way when the see me coming…)  Among the parties are:

 

-        Gordon & Rees (the inimitable Dion Cominos presiding over the festivities;  he’s inimitable because nobody would want to imitate him…);

 

-        Wilson, Elser (hosted by Tom Wilson, Sr. and sub-hosted by Tom, Jr. and, luckily, Dave Wilson won’t be there…);

 

-        C.N.A. is having a party on a boat next to the Sheraton (but it’s booked solid so not even mentioning my name will get you in…);

 

-        Freedom Specialty is having a party at a bar with only 2 fewer large hi-def flat screen TVs than they have in their offices;

 

-        Great American is throwing a shindig at Sullivan’s Steakhouse; 

 

-        The Harmonie (don’t ask me about that weird spelling) Group is having a harmonious get-together in the Sheraton hosted by the incomparable Jim Brown.  Jim is one of the best lunch-golf-dinner hosts in the industry and you should go out of your way to say hello to him.  He’s always being sought out by…nobody!  There’s the aforementioned Lucky Strike party (seriously, show up and use my name, I’d love to flood the place with tons of people who they weren’t expecting, just for laughs…); and

 

-        The ever-popular Socius afterhours party.  As in years past, Socius has kept the location secret and I assume they’ll be telling people today.  I’m sure I’ll be high on their list of invitees….or maybe not.  The special guest at the Socius (which means “partner” as you would have learned if you bought and read my stinkin’ book; www.sixthandspringbooks.com) party will be Jon Gosselin.  At least that’s the rumor.  And Kate Gosselin will be at the Lucky Strike party according to a rumor that I just fabricated.  Feel free to spread it. Oh, and the Balloon Boy will float in and land on the C.N.A. boat.  It’s all good.

 

Breaking newz: Andy Dorman, I’ve just been told by my peeps, has been dubbed “Big Joe Mooney” because he looks like a larger version of Joe.  It’s a horrible thought.  I guess regular Joe Mooney is now “Little Joe Mooney.”  This is the kind of breaking and hard-hitting news that you can expect from this blog.

 

Here's a picture of Jason "The Hawk" Hawkins after recently trying a new hair rejuvenation product:

 

 

 

Don’t forget that you can check the blog from your PDA.  In the old days nobody liked PDA, but now everyone has one.

 

A shout out to FETA, the Federation of EthnicGreek Trade Associations.  FETA is a slapdash (I used the nice version of the word there) association of Greek American (and those who would like to be) insurance professionals and lawyers who formed this charitable entity to do various good works.  To date, FETA has volunteered over 45,600 man-and-woman hours of time and contributed over $5.7 million to various causes.  Wait, that’s not exactly true.  Actually, it just generates a lot of inane e-mails, many of which aren’t being written because I’m busy with this blog at the moment.

 

Everyone remembers that there’s an insurance conference going on, correct?  Let’s get out there and hit those sessions!  Oh, and here's a photo of my sister's dog Sophie from a few months ago.  Blog ratings apparently go way up when pictures of cute dogs are shown.  Plus, my sister will appreciate it and since I'm using her car for this trip I thought it would generate some goodwill.

 

Catch you on the flip side folks (that an old CB radio sign off for those not cool enough to have ever owned a CB radio….) Another posting later today or tomorrow to wrap things up.  It’s been real….and don’t be shy about posting comments (or clicking in frequently!)

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LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 3:11 PM
 

Surprisingly, I was invited to a free lunch today by a group of blog-publicity-hungry lawyers so I thought I'd mention them since they are all excellent attorneys who know how to pick a lunch partner.  Frances O'Meara and Marie Colmey of Hinshaw & Culbertson, Elaine Lenahan and Shawn Phelan of Thompson Coe and Matt Breetz of The Native American Legal Project (just kidding, the firm is actually Stites &  Harbison but he does a lot of Native American Casino legal work...) all exhibited excellent judgment in inviting me to lunch. Below Elaine (a big purchaser of "Claims Made & Reported" by the way) and Matt cozy up for a photo that should in no way be misconstrued by their spouses. Seriously.

 

And here's a photo of Frances O'Meara and Shawn Phelan, also not to be misconstrued:

Probably the best part of attending PLUS without an employer is not having the need to doctor up receipts like everyone else is doing like crazy.  Easy for me to drop the dime on others now that I am a free agent.

The sessions today were all excellent and the speakers did a terrific job.  Jason Hawkins of Aon was especially good in his session, he clearly took a lot of time to prepare.  Here's a photo of Jason:

That was not at the session, that was in a bar.  He was preparing for the session here, clearly.  Reprints of this photo are available at www.hawkphotos.com.  

Another posting coming shortly, stay tuned.

 

 

 

 

 

 

 

 

 

 

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LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 12:11 PM
 

Some pix from last night:

 

Tom Zach and his Integro team are out partying while Aon and Marsh meet with his clients in a conference room next door.

Andrew "Jelly" Pearson serving as Special Ambassador from the United Kingdom to the bars of Chicago.  Prime Minister Brown and the Queen are requesting daily updates from Jelly on the quality of American draft beer.

Kevin Koehler of Everest National wonders how he mistakenly got seated at the adult table.  To his left, Ray DeCarlo of Crystal tries to avoid the camera since his wife believes he's in Detroit for a client meeting.

Joe Mooney of Catlin and Andy Dorman of the Reminger law firm are happy that the windy Chicago weather hasn't affected their hairstyles.

Da Bears!  Noted Philadelphia attorney Andrew "Uncle Andy" Davitt won PLUS's special "Spend a day practicing with the Bears" contest.  Uncle Andy ran routes for the scout team and suffered a dislocated shoulder, two broker ribs, a sprained knee and a concusion.  Congrats Andy!

Vince McGee of The McKeegan Underwriting and Expense-Generating Group poses with Rich Luca of ACE USA.  What they're doing is obvious and I don't want to get sued for libel so I will say no more. 

Noted Birmingham lawyer Steve Whitehead (yes, they have lawyers in Alabama...) celebrates the Crimson Tide's exceptional season.  Steve is donating the rest of his Alabama home game tickets to the first PLUS Conference attendee to slap him on the back and tell him that he's a great guy.  Please look for him in the bars.

Jack Nicholson show up at a PLUS dinner to discuss his love life and golf game.  Gotcha there....it's actually Bill Winget of the Winget & Spadafora law firm.  Bill is the only lawyer in the indstry whose last name describes how he prepares for litigation. 

That's it, pithy post.  A picture is worth 1,000 words.  Enjoy.

 

 

 

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LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 6:11 PM
 

An exchange in the atrium-level corridor of the Chicago Sheraton earlier today:

 

LG: President Clinton, it’s an honor to meet you, my name is Larry Goanos.

 

Bill Clinton: Thank you, same here.  Say, aren’t you the fella who’s writing that blog?

 

LG: Yes, how did you know?

 

BC: The PLUS people told me to check it out to get a feel for this conference.  They also told me that I should read your book.  I’m having my people order it today.

 

LG: That’s great Mr. Former President!

 

Psyche!  I didn’t run into Bill Clinton in the hallway at the hotel, but I had you for a second there, didn’t I?  Admit it.  Busted.

 

So William Jefferson Clinton spoke today at the opening event of the 2009 PLUS International Conference.  As the official blogger for the event, I was privileged to have a seat…in the last row.  Official bloggers don’t get much respect around here, what can I say.  But one of the introductory speakers, either Dan Auslander (conference president) or David Bell (PLUS president), I can’t remember who, gave a shout out to the PLUS blog which, to my ears, was a direct and ringing endorsement of my efforts here.  Thank you.  I can’t wait to accept my Blogger Oscar.  Do they call it a Bloscar?  If not, they should.  

 

I should start by telling you how PLUS was able to retain Mr. Clinton’s services for this event in the first place.

 

He was secured through the contacts of Phil Voluck, a truly wondrous figure in the professional liability world (I mean that in a good way) and a partner at the most excellent Kaufman Dolowich law firm (they hosted me for golf and dinner many times…)   Phil is truly one-of-a-kind (and I mean that in a good way, mostly.)  Phil’s brother-in-law was the college roommate of, and is still friends with, Michael Jordan.  Ironically, Phil Voluck is the Michael Jordan of…saying that he knows Michael Jordan.  Phil dines out weekly on the fact that he knows Michael Jordan.  I’m surprised that Phil’s business cards don’t say “Knows Michael Jordan,” on them.  Philip Voluck, JD, KMJ.  I find anyone who is such a big name dropper to be repugnant.  In fact, I was saying that just the other day to Warren Buffett while we were discussing his endorsement of my book (which is available at www.sixthandspringbooks.com under “New Releases” in case I haven’t mentioned that about 20 times already.)  

 

Anyway, where was I?  Oh yes, the speaking engagement.  So after Dan and David spoke (both did a great job) and just before Mr. Former President Clinton began, the PLUS people thanked everyone again, including Phil.  And then, on the two large screens, they flashed a picture of how Phil will look when he’s dead.  It was the most God-awful photo of someone who isn’t Gary Busey in a mug shot that I’ve ever seen. 

 

Phil: you’re well-known, well-liked and rich; get a better photo of yourself!  Don’t subject people to that one again.  Please, for the love of humanity!  Didn’t you hear Mr. Clinton admonishing us to do something to make the world a better place, this is your chance.  However, for marketing purposes, you might want to threaten to show that horror head shot to Claims people; I’m sure they’ll throw you cases to avoid seeing it again (if anyone at PLUS can e-mail me that photo at LG727@aol.com I’d be glad to post it on the blog to horrify blog readers who can’t make it to the theatres to see “Paranormal Activity.”  Who loves you Phil?  We all do!

 

Anyway, back to Mr. Clinton.  He did a terrific job.  Everyone I spoke to afterwards agreed, no matter what their political affiliation.  He was sincere, engaging, interesting and informative.  The man could be president.  Oh, wait, he was.  Here’s a picture of what the proceedings looked like from the last row:

 

 

 

Mr. Clinton spoke of global warming, the sad state of the economy and a few other topics, but his overriding theme was that we can all make a difference and we should all be trying to make the world a better place no matter how small, and seemingly insignificant, our efforts may be.  As he said, “If you have the ability to do something, you have the responsibility to do it.” (Sorry to get all philosophical on you in a traditionally whimsical blog…)  Mr. Clinton also said that he knows the U.S. will do the right thing on global warming.  He recounted a story of what Winston Churchill said to the British media during WWII when the U.S. was dragging its feet on coming to England’s aid.  Mr. Churchill said: “The United States always does the right thing…after it exhausts all other alternatives.”  Obviously, ole Winnie still harbored some hard feelings about losing the 13 colonies.  We helped out eventually, so back it down Brits.   

 

Mr. Clinton went on to answer PLUS members’ questions after his speech, which lasted about 40 minutes or so.  To the question of what was the best advice anyone had ever given him, he said Nelson Mandela had told him that despite all of the mental and physical harm that his captors had imposed on him, he realized that they could never take his mind or his heart.  He’d have to give it to them, and he refused.  Mr. Mandela told Mr. Clinton to never give away his mind or heart.  Mr. Clinton’s mother also told him to never quit.  And always get up when you’re knocked down.  There’s a Japanese proverb: “Get knocked down seven times, get up eight.”  That’s my own contribution to this discussion, not Mr. Clinton’s.

  

Overall, and I’m not just saying this because I’m the stinkin’ official PLUS blogger, I think Mr. Clinton’s presentation was extremely well received and a terrific way to start the proceedings.  He also mentioned that the book “Outliers,” written by Malcolm Gladwell, who is speaking at the end of the conference, is one of the most important books that he’s read in the last five years (I know what you’re thinking; no, unfortunately he didn’t mention “Claims Made & Reported” despite my vigorous attempts to telepathically influence him into it…)

 

Ok, that’s it for this entry (three today, I’m really cooking with fire now…)  I’m off to the official PLUS reception now (I’ll try to get some embarrassing pictures, I know that you, dear readers, like to see as many tawdry National Enquirer-like photos as possible…) and then I’ll hit some other “networking”events.  Hasta la vista baby. 

Comments 3 COMMENTS POSTED IN Upcoming Events
LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 2:11 PM
 

I just had lunch with one of the insurance industry's leading Claims professionals, Steve Carabases (hey, he invited me to lunch so I throw him a bone) and two of the best lawyers, Ken Labbate and Mark Katz of Mound Cotton (ditto, buy lunch, get a shout out...yes, I can be bought!)  Very informative, cutting-edge legal and insurance issues were discussed (not by us but I heard some guys at the next table....)  Heading over to see William Jeff Clinton now, should be interesting.  Just trying to keep you, the reader, informed.  Peace out.  

Comments 0 COMMENTS POSTED IN Upcoming Events
LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 11:11 AM
 

Well kidz, I’m off the road and getting into the more frequent blogging mode now, just like a real blogger.  Please contain your joy.

 

I attended a coupla parties/networking events last night in order to perform my duties as a citizen journalist (that’s the only reason that I went, of course.)  And the pattern continued: people either said “Please put me into your blog,” or “Don’t you dare put me into your blog.”  I’m trying to remember who said what so that I can directly contravene their wishes. 

 

First I hit the AmWins party.  As many of you know, AmWins is one of the premier insurance wholesale organizations in the country (see what kind of good publicity merely inviting me to your part gets you?)   It was held at Buddy Guy’s bar on Wabash and the place was jumping, packed to the gills with insurance revelers.  I took a few photos, which I am attaching here for your viewing pleasure.  The first one is of Rich Fernandez and his broking team out of the Atlanta AmWins office.  As you can see, I can give Annie Liebowitz a pretty good run for her money with my Blackberry camera phone.  I call this photo “Beauty and the Beasts.”  Enjoy:

 

 

 

This photo depicts Karl Schreiber, de facto mayor of Chicago (living in exile in Atlanta at the moment) and Sean Burke, de facto mayor of South Boston (living in exile in San Francisco at the moment.)  Expect to return home eventually to reclaim their rightful throne:

 

 

 

 

After the AmWins party I meandered (if one can meander by cab) over to the PLAN party.  As those of you with not much of a life already know, PLAN stands for Professional Liability Attorney Network.  It was started by a man with a plan. I was going to post a photo from that event but my computer is fighting me and I have to go so I'll save it for later. 

  

So that’s it, just a brief “how do you do” to start the blogging day (I was up hours ago, of course, attending sessions and pressing the flesh with conference attendees…)  Stay tuned for more posts later today, including my review of the speech by former President William Jefferson Clinton.  Adios.

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LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 9:11 PM
 

This afternoon, and into the early evening, your faithful PLUS Conference 2009 blogger/correspondent participated in the Conference’s annual charitable event at the Greater Chicago Food Depository (when I signed up I didn’t realize that it would last so long…and it seemed much longer; it was real work!)  

 

PLUS is one of the few, if not the only, major professional association in the U.S. to conduct a charitable event in conjunction with its annual conference.  Dave Williams, the outgoing president of the PLUS Foundation (he put in an exemplary two years by every measure), says that this is the sixth consecutive year that PLUS members have donated “sweat equity” to a charitable cause in the Conference site’s home community.  In addition, according to Dan Jenney, Executive Director of the PLUS Foundation (which organized the effort), the Foundation has also donated approximately $180,000 to those six causes over the years.  Bravo!

 

Approximately 100 PLUS members donated their time today to help with various functions at the Food Depository, an organization which provides food to people in need through 600 non-profit soup kitchens, shelters, children’s and seniors’ programs and other distribution methods.  Almost 500,000 people a year rely on emergency and supplemental food provided by the Depository, most in Cook County, Illinois but some in disaster-stricken areas, like those suffering from hurricanes and other catastrophes.  If you’d like to learn more, or to provide food donations or financial support directly, please go to www.chicagosfoodbank.org.   

 

I was on the 3:30 bus to the Depository (Dave Williams beat me to the bus microphone, so the announcements on the way were mostly serious…) We arrived after enduring stand-still Chicago traffic, and were given a brief introduction to, and overview of, the facility and its functions.  It’s a humongous warehouse-type building of approximately 280,000 square feet (yes, bigger than Cav’s house!)  

 

Our busload of volunteers was split into two groups randomly.  The first group went to a “clean room” where they were outfitted with aprons, hair nets and face masks and were charged with scooping cereal from big (and I do mean big) bags into smaller bags for distribution.  Think Lucille Ball working on the candy assembly line in “I Love Lucy.”  I’m attempting to post a photo of a volunteer from our group below.  The first one to correctly identify this person in a reply post will win a copy of "Claims Made & Reported."   I'm not sure if my attempt to post this picture will work, it's a bit tricky, but if it does, a lot of people will be avoiding me for the rest of the conference now that I have this new-found ability:

 

 

 

 

 

My group, clearly singled out for our advanced talents, was taken about six city blocks to the back of the warehouse.  There we were assigned the repetitive and monotonous – but oddly stressful – job of opening large boxes containing small bags of plastic utensils (a plastic knife, fork and spoon in each bag; I inquired about the glaring absence of sporks but received no answer) and separating them into groups of 16.  We then had to hustle those bundles of 16 into empty mesh grapefruit bags (honest; I am not making this up.)  The bags containing 16 sets of utensils would eventually be placed into “emergency food boxes” so that people opening these boxes of food supplies would have utensils (e.g. victims of flooding who were displaced from their homes.)  We had about 20 people working at three long metal tables which were placed end-to-end. 

 

This process eventually became competitive as we tried, in small groups, to create ways to make the work more efficient.  Chris Duca of Navigators became a stand-out when he developed a now-patented process whereby he feverishly grabbed the utensils in precise clumps (or so he said) to form his group of 16.  Nobody actually audited his numbers despite my suggestion.  However, Chris opined that I am on my way to becoming a “high authority” blogger (that’s a blogger who has enough credibility to be quoted by the traditional media) so I won’t doubt his word on anything.

 

I would be remiss in not pointing out that Brian Braden of Valiant brilliantly performed the “dumping” function.  He opened and flipped over the boxes of utensils rapidly and precisely on each table.  He had some great dumps (although some were runny.)   

 

For a short while today, the acronym of PLUS stood for “Professional Liability Utensil Sorters.”  It didn’t really take me as long to come up with that one as you might think…

 

I am now off to cover some of the parties here at PLUS.  I may or may not report on them, depending upon bribes paid and pictures taken.  In any event, I will be back tomorrow with, among other things, coverage of former President Clinton’s speech in the afternoon to the PLUS audience.  Good luck and goodnight (I haven’t really settled on a sign-off so I’m trying them all…) 

 

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LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 8:11 PM
 

Dear PLUS Enthusiasts (and others),

 

Another housekeeping matter before I start.  Careful reader Danny O’Connell (formerly of Pittsburgh, now of NYC) pointed out that I used the word “lamb” in my last blog when the word “lam” is actually the proper term from for “being on the run from the police.”  Very good Dan, you were the first to spot my intentional misspelling (as set forth in the e-mail before that.)  Henceforth, the first person to post a comment pointing out the significant misspelling/misuse of a word (and not a mere typo like “thme” instead of “them”) in each of these  blog postings will receive a free copy of the cutting-edge insurance book “Claims Made & Reported: A Journey Through D&O, E&O and Other Professional Lines of Insurance” (it’s also available for purchase at www.sixthandspringbooks.com under “New Releases”) (how did that free ad for my book get in here?...)  Now back to our regularly-scheduled programming:

 

I took leave of Toledo and my gracious hosts, Jan and Chris Ceglio, at 8 this morning bound for Chicago.  The route to the Windy City from Toe-Town (I don’t know if anyone actually calls it that, but I will) is an easy one: straight west on Interstate 80 until you hit Interstate 94 north.  It’s about 240 miles of flat farmland and occasional buildings.

 

There is nothing of note to report from the remainder of the Ohio drive, it was pretty boring (“It’s all been that way so far…” you may be thinking…)  Then I came to the great state of Indiana (Indiana, as you may be guessing, is going to get the Pennsylvania treatment in a minute…)

 

The sign welcoming visitors to Indiana says “Indiana: Childhood Home of Lincoln.”  Really?  Really?  That’s the best that you have, “childhood home of Lincoln?”  He was born in Kentucka (that’s how the locals say it) and spent much of his adult life in Illinois, Indiana’s next-door neighbor which bills itself as “The Land of Lincoln.” So why would Indiana stoop so low as to call itself “the childhood home of Lincoln?”  Why not just say “Bobby Knight once worked here,” or “Letterman grew up here?”  Open the dictionary and next to the definition of “lame” you will see a photo of the childhood home of Lincoln.  Seriously. [By the way, I just researched it and Lincoln was the only U.S. president never to formally join any church.  Why doesn’t Indiana put that on their precious sign?]

 

Next, Indiana bugs me because, like a handful of other states, it fights the E-ZPass name for no good reason.  It might as well just throw in the flag and go with it.  But no, Indiana has to use the highly clever “iZoom” as the name for their E-ZPass equivalent (despite the fact that they also display the E-ZPass logo and colors next to the iZoom symbol.)  Seemingly useful (but not really) fact: A total of 14 states currently use E-ZPass technology although some call it different names (thank you Google.)  People in Indiana don’t know from E-ZPass.   

 

Next, I was surprised to learn that Elkhart, Indiana is home to the RV/MH [Recreational Vehicle/Motor Home] Hall of Fame.  It’s right off 1-80 and clearly visible to travelers who get sick of counting grain silos and craning their necks for hidden cop cars.  Unfortunately, I didn’t see the Gas Grill Hall of Fame or the Pop Up Tent Hall of Fame anywhere in the vicinity.  Only if the RV/MH Hall of Fame (www.rvmhhalloffame.org if you don’t believe me) had been built near Lincoln’s childhood home, then Indiana could lay claim to the title of World’s Lamest Tourist District.

 

The rest of the ride into Chicago went fine after I came down off my high of seeing the RV/MH HOF.  I wished, of course, that I had been riding in an actual RV when I arrived in the Windy City, but what can you do.  My hotel, I’m told, stands on the site of Abe Lincoln’s barber’s aunt’s cousin’s original home.  It was an RV.

 

Ok, for your actual valuable-but-little-known fact of the day: when driving a rental car (or any car with which you are unfamiliar) you can figure out which side the gas cap is on by merely looking at the gas gauge on the instrument panel.  In 90% of cars you’ll see an arrow next to the depiction of a gas pump and it will point to the side the cap is on.  That, my friends, is valuable info (how many times have you had to get out of the car to look for the cap, thereby giving the impression to onlookers that you stole the vehicle – which is especially troublesome on those occasions when you did, in fact, steal the car…)    

 

I plan to post again later tonight.  We will have some actual insurance people and issues mentioned…possibly.  In the meantime, I hope you are doing things with your lives worthy of making people want to advertise your childhood home some day. 

 

Comments 3 COMMENTS POSTED IN Upcoming Events
LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 12:11 AM
 

It’s your loyal 2009 PLUS International Conference blogger, LG, checking in from Toledo, Ohio on Monday night.  Henceforth, let’s just agree to call it the “Conference” for efficiency’s sake.  If you agree, please check the “I accept” box at the bottom of this posting (if you really think that there’s an “I accept” box at the bottom, keep reading, you’re the type of gullible blog reader that I need.) 

 

In a perfect blogger world, I would have sent a dispatch earlier today from Somerset, PA (just east of Pittsburgh) but free wifi is a rarity these days in the U.S. and travel constraints did not allow me to waste time wrestling with the system. Jack Kerouac had it easy.

 

I started my trip a tad late, departing from the Jersey Shore (Neptune City to be exact) at 8:30 this morning in my wonderful sister’s Chevy Trailblazer (she hasn’t called the cops to report it stolen as of this writing so she’s still wonderful.)  All travel essentials were in place, including iPod, cell phone, driving directions, items of sustenance (Razzles, Blow Pops, Life Savers, large chewable Sweet Tarts, etc.)  I began my journey heading west on Interstate 195.  It was a warm and gorgeous November day. I remember it just like it was yesterday.  Having a good memory is one of the essential traits of a good blogger.  I forget what the others are.

 

Alas, the drive through New Jersey was uneventful.  I tried my best to gin up some good blogger stories, keeping my eyes peeled for potentially dangerous toothless hobo hitchhikers, escaped prisoners on the lamb and/or cheerleaders walking from their broken down bus, but none of the above materialized.  I guess cheerleaders’ buses only break down on hotel pay-per-view movies (from what I hear.)   

 

Consequently, I have no NJ-based stories.  I am not doing Jack Kerouac proud, but I’ll keep trying.  Then, to add insult to injury, I began the long, and I do mean l-o-n-g, and boring (ZZZzzz) drive through Pennsylvania.  Where do I begin my rant?

 

In New York we have an expression: “You don’t know from…”  It basically means that you don’t know anything about, or have any experience with, whatever follows that phrase.  In central Pennsylvania, they don’t know from traffic.  They also don’t know from rude drivers.  This is, actually, a good thing.  But they certainly do know from grain silos, barns and trailer homes. Fuggeddaboutit.  

 

From just past Philadelphia to the Ohio border, Pennsylvania (also known as Pennsyltucky), offers only a long and monotonous drive.   It yields no interesting sights or stories.  Here, however, are some random thoughts on the Keystone State:

 

-        What’s with the big stars on the sides of so many houses and barns?  I see them everywhere in PA.  I think they are some type of Pennsylvania Dutch good luck symbol, or Macy’s is embarking on a new ad campaign, but I’m not really sure.  Feel free to write in, oh gentle reader, with any enlightenment (I’m too busy to Google it);

 

-        Why is every salt/gravel/sand storage facility on the side of an interstate shaped like a giant tee pee?  I see this not only in Pennsylvania but many other states.  Does anyone know? If so please respond below.  Does that shape make it more snow resistant? If so, then why aren’t all highway authority buildings (and all buildings, period, for that matter) shaped that way?;

 

-        Pennsylvania has some monumentally screwed-up town names, as we all know.  I won’t go through them, we’ve all giggled at a few in elementary school.  But one that I find particularly ridiculous is the town of Jersey Shore, PA.  To me, this smacks of envy.  Here would be the nonsensical equivalent:  Florida Keys, Nebraska.  Or California Coastline, North Dakota.  If anybody knows what’s up with the town name of Jersey Shore, PA, please write in (as you can see, I am not only “click sucking” but also response pandering);

 

-        Once you get within 70 miles of Pittsburgh, expect everyone you see to be wearing a Steelers (or “Stillers” as the locals pronounce it) jersey.  Ben Rothlisberger waited on me at the deli and Franco Harris filled my tank at the Shell station;

 

-        Speaking of Pittsburgh, my buddy Dan O’Connell highly recommends Primanti Brothers, an Italian sandwich shop (THE Italian sandwich shop) in the Strip District of downtown Pittsburgh (so named because it’s on a narrow strip of land, not so named for the other reason that you thought of first.)  Dan is a diehard, and I do mean diehard, Steelers fan.  So is Rob Wolfe, Missy Mazelon and Charles D’Andrea, to name just a few.  I find that diehard Pittsburgh Steelers fans have one thing in common: they’ve all moved away from Pittsburgh.  If it’s so great, stay there (Insulting Stiller fans? Now I’m really inviting an avalanche of responses…bring it on!) (PS and you thought this was a blog only about an insurance conference…you do remember that we will be focusing on the Conference soon, right?)

 

-        Another great defender of Pennsylvania, but one who still lives there, is “Uncle” Andy Davitt of the Marshall Dennehy law firm in Philly.  Andy grew up in the dusty shadow of the Scranton coal mines (I know that mines, being holes in the ground, don’t cast shadows, but I’m on a roll here…) and bootstrapped his way into becoming a leading Philadelphia lawyer.  You will recognize him in the high school football team photo hanging on his office wall because he’s the only player wearing a light on his football helmet.  When, as a child, his parents warned that he’d get coal from Santa, Andy took it as a promise, not a threat.

 

-        A new, and more appropriate state motto: Pennsylvania – The Highway-Construction-Everywhere-At-All-Times State. 

  

I think I’m done with my Pennsylvania observations.  I seriously doubt any PA State troopers will read this blog, but, just in case, I’ll start checking out return routes to New Jersey through Virginia since my sister will want her SUV back.

 

I have very little to say about Ohio, it’s mostly flat and inoffensive.  The highway rest areas are very intelligently and efficiently designed; the main buildings are circular, making for a lot of close-in parking with fast and easy access to services. 

 

Now I am about to hit the hay in Toledo at the home of Ms. Jan Ceglio, the very lovely mother of my friend Anne Schaeffer.  This is my first time to Toledo.  It is an absolutely enchanting town with a unique and warm charm (ix-nay, mother-skay, reading over my shoulder-skay, must say this nay skay...) 

 

Just kidding on that pig Latin (should “pig” be capitalized too?), it really is a nice town and Anne’s mother is a terrific hostess.  I thank her for putting up with me, especially as I sit typing in her living room at this late hour.  And her very intelligent brother Chris hooked me up with this wireless connection.  See how little it takes to get a complimentary mention in this blog?   

 

Before signing off for the night, I wanted to mention that my writing this blog has caused some interesting reactions in people.  Some people immediately say “Don’t write anything about me in there!” while others say “Hey, can you mention me?” So, of course, my initial reaction was to do the opposite of what each person asked.  But, luckily, at the end of the day I’m more mature than that (only at the very end of the day.)  For example, Dennis Kelley, a San Francisco attorney who won’t be attending PLUS, asked me to mention him.  Dennis will be busy this week at the International Court of Justice.  He is litigating the critical “Tastes Great vs. Less Filling” case.  You knew eventually that such a long-running dispute would come down to litigation.  Dennis represents “Tastes Great” and has his work cut out for him.  I suggested this opening line: “Your honor, my opponent doesn’t know from less filling…”

 

Have a good night (and/or day) kids and remember to check back frequently and don’t be shy about posting a response, it’s an interactive sport. 

 

Starting tomorrow we’ll be talking more about the Conference, which is a good thing since that is why the nice people at PLUS are giving me this forum.  Now please go forth and prosper.    

Comments 11 COMMENTS POSTED IN Upcoming Events
LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 11:11 PM
 

OK kidz, coupla things.

 

Actually, I have more than two items but I just wanted to start off with the word “coupla.”  I coin my own words periodically.  “Coupla,” admittedly, isn’t one of them, that one’s been around, but here’s a recent creation that may come in handy for those flying into Chicago: Sluggage.  I define it as “Luggage that is slow to arrive after you’ve landed at the airport.”  It’s a combination of “sluggish” and “luggage” in case you didn’t pick up on that. I’m trying to get it into mainstream use, for no particular reason, so feel free to start dropping it into conversation (“Sorry that I couldn’t make it to the morning session on the new state insurance filing regulations in Arkansas but I had sluggage at O’Hare.”)  I’m sure you’ll be able to find a lot of uses for this increasingly-relevant term.  Consider this to be just another free value-added component of this 2009 PLUS International Conference Blog.

 

Surprisingly, the definition of “sluggage” wasn’t even one of my originally-planned “coupla” points.  But I never met a good transgression that I didn’t like…

 

The first order of business: LG answers reader mail. 

 

I didn’t think that I’d engender many reader comments this early in the proceedings, but I was wrong.  And some are very funny.  I’ve never been on a major network talk show (not yet anyway…) but my guess is that it’s considered rude for guests to be funnier than the host.  I thought the same would apply in the blogosphere.  Apparently not.  Many of the reply posts were not only funnier than my stuff, but also pithier. Touché, I invited comments so I get what I deserve. 

 

Someone suggested that I title this blog “Pandora’s Box,” since that may be what I’m opening here.  Nonetheless, we push on.  As for reader mail, perhaps my favorite reply came from a Mr. “Arnie Boyea” (pseudonym, I’m sure) who told me to keep my “…new-found, sorry ass, click-sucking, whistleblowing attitude out of the way of a good time, or else.” I think he felt that I threatened to drop a dime on anybody who has too much fun or goes overboard at the conference.  Not so, mon frères Arnie.  I’m just an honest citizen journalist trying to bring the relevant, hard-hitting insurance news to the people.  And, as you know, the pictures will tell no lies (of course, I can be bought…)

 

Complimentary comments were posted by Annie K.B., Jim B., Jill, Cstreet and JayZ (probably not that JayZ, but who am I to say?)  I agree with all of their laudatory language and appreciate their keen insights and good sense of literary judgment.  They are a blogger’s dream.  Arnie Boyea, not so much.  And someone else, a “FETA,” pointed out that I misspelled “Swarthmore.” Supplying annoying and petty insights like that are my job, not yours FETA face.  Just for that, I’ll purposely misspell at least one word in every post (thereby covering myself for what I expect to be many inadvertent misspellings, which I’ll pass off as also being intentional…)  

 

I’m off tomorrow bright and early from the Jersey Shore in my sister’s SUV.  She was kind enough to let me use it when rental car prices became prohibitively expensive.  Apparently, the big rental car companies don’t appreciate you driving their vehicles halfway across the country and back.  They don’t even like you dropping a car off in a faraway state. So, for this act of generosity, I would like to send a big shout out to my wonderful sis Maria.  I can’t thank her enough since, personally, I wouldn’t want my car trading paint with those crazies who drive the interstates.  But what are a few dings and scratches on a monster-sized SUV?  Can’t even see ‘em. (Just kidding sis, I will care for your ride like it was a Faberge egg.)(I should be well down the road by the time she logs on to read this, I just hope she doesn’t report the car stolen…I hate when she does that to me.)  And I promise not to affix to it that big new NASCAR decal that I bought.

 

Now a housekeeping matter.  Some of the early e-mails soliciting hits for this blog (must I remind you that my entreaties have been called “click sucking”) directed readers to the www.plusweb.org site.  While that’s the main PLUS homepage and you can access the blog from there, the Webmaster has informed me that it is better to access www.plusblog.org instead.  So please do this if you’ve been using the other site. I’m sorry to be both a beggar and a chooser (taboo according to what we were all told growing up), but I have no choice in this matter, the Webmaster rules.  So www.plusblog.org is the preferred choice.  Thank you for your cooperation.

 

Here’s an interesting geography fact for today (I will try to provide at least one interesting fact in each post to keep you coming back…who can resist interesting facts?):  Cairo, Illinois, which is at the southern tip of the state, is only slightly closer to Chicago than it is to Atlanta, Georgia.  It’s true, check it out on a map.  I used to say that Cairo was actually closer to Atlanta than Chicago but in the process of writing this I decided to check it on Mapquest since I never verified this fact for myself (someone else told me years ago and I always took it on face value; this person’s initials are Jim Riely.)  It turns out that Cairo, IL is 373 miles from Chicago and 418 miles from Atlanta.  Anyway, it’s still a pretty interesting fact.  Reno, NV, however, is further west than Los Angeles, and you can check that one out for yourself. 

 

I will post again on Monday from the road.  I’ll be spending Monday night in Toledo, OH.  More on that to come (will keep you in suspense until then…)

 

Hope you have a wonderful day kidz.

Comments 5 COMMENTS POSTED IN Upcoming Events
LG's Guide to the 2009 PLUS International Conference
Posted by Larry Goanos at 10:11 AM
 
This is my second blog posting for the 2009 PLUS International Conference. If you read the first one, thanks for sticking with it, things will only get better. If you didn't read the first one, don't worry, you're not missing a story line or anything, you can just pick it up here. This is not "Desperate Housewives." Desperate Blogger maybe.... 
 
As many of you know, I am going to blog about my road trip to Chicago and, once I arrive, the 2009 PLUS International Conference. I don't think my road trip will be quite as interesting/funny as the road trip that Otter (aka "Frank Lymon") and friends took to Emily Dickinson College, but then again I don't expect fans of Otis Day and the Nights to run me out of a bar either. If you get that reference, then you are going to absolutely love my blogging. If you don't get it, then you will merely be extremely amused and entertained by my blogging. Either way, I foresee you enjoying it. Nobody gets out of here with anything less, guaranteed. 

 So what is a "blog" anyway? You probably know, in a general sense, but I thought I'd cue up our friends at Wikipedia for that explanation:

A blog (a contraction of the term "web log") is a type of website, usually maintained by an individual with regular entries of commentary, descriptions of events, or other material such as graphics or video. Entries are commonly displayed in reverse-chronological order. "Blog" can also be used as a verb, meaning to maintain or add content to a blog.

Many blogs provide commentary or news on a particular subject; others function as more personal online diaries. A typical blog combines text, images, and links to other blogs, Web pages, and other media related to its topic. The ability for readers to leave comments in an interactive format is an important part of many blogs. Most blogs are primarily textual, although some focus on art (Art blog), photographs (photoblog), videos (Video blogging), music (MP3 blog), and audio (podcasting). Microblogging is another type of blogging, featuring very short posts.

As of December 2007, blog search engine Technorati was tracking more than 112 million blogs

I now know that I have 111,999,999 competitors for your attention based on the number of blogs that Wikipedia says are out there, but I'm not intimidated. Out of those 111,999,999 bloggers, very few are the next Rod Blog-ojevich and even fewer have the unbridled access to the 2009 PLUS International Conference that I have. So step off competitors.  Talk to the hand...
I feel impelled (as opposed to compelled) at this point to provide just a bit more on blogging. Here's an interesting tidbit on blogging history (again, from Wikipedia so who knows if there's a grain of truth in this or not...):
Before blogging became popular, digital communities took many forms, including Usenet, commercial online services such as GEnie, BiX and the early CompuServe, e-mail lists and Bulletin Board Systems (BBS). In the 1990s, Internet forum software, such as WebEx, created running conversations with "threads." Threads are topical connections between messages on a metaphorical "corkboard."

The modern blog evolved from the online diary, where people would keep a running account of their personal lives. Most such writers called themselves diarists, journalists, or journalers. Justin Hall, who began personal blogging in 1994 while a student at Swarthmore College, is generally recognized as one of the earliest bloggers as is Jerry Pournelle. Dave Winer's Scripting News is also credited with being one of the oldest and longest running weblogs. Another early blog was Wearable Wireless Webcam, an online shared diary of a person's personal life combining text, video, and pictures transmitted live from a wearable computer and EyeTap device to a web site in 1994. This practice of semi-automated blogging with live video together with text was referred to as sousveillance, and such journals were also used as evidence in legal matters.

I don't know who Justin Hall is, but, as you saw, he's credited with being one of the first bloggers ever while at Swartmore College. Brian Flynn, an E&O expert in our industry, is also a Swarthmore man. See how I'm tying all of this together? There can't be too many blogs that are more informative than this one (although maybe Justin Hall's is...)  
I'm going to sign off now. Please keep checking back on a regular basis so that we get to that one million hit plateau and Bill Gates (whose father, coincidentally, did the legal work to incorporate PLUS, honest) sends us all to Disneyland. Peace out, go forth and prosper and all that good stuff.     
Comments 10 COMMENTS POSTED IN Upcoming Events
Join PLUS for a Free Webinar
Posted by Plus Master at 8:11 AM
 

Join PLUS  for a Free Webinar hosted by Advisen:
 
New Regulations Impacting Professional Lines Beyond Healthcare Reform: Important Implications of the MMSEA/Secondary Payer Act that Stretch Beyond Healthcare Lines
 
OVERVIEW: With the passage of the Medicare, Medicaid and SCHIP Extension Act of 2007 (MMSEA), Congress has sought to protect the Medicare system from paying expenses considered to be the obligation of an insurance company, self-insured organization or other entity. This webinar will discuss the current state of MMSEA regulations and enforcement. How will the regulations impact Professional Liability lines of business? How are non-US based carriers impacted? How are EPL and other lines affected? What are the critical dates? How will MMSEA impact settlements, costs and loss ratios? Our panel of experts will discuss implementation tips and pitfalls to avoid.
 
TIME / DATE: This free one hour webinar brought to you by PLUS and hosted by Advisen will be held on Monday, November 23 @ 11am EST
 
SPEAKERS: Our panelists are Wiley Rein’s Kathryn Bucher, Allied World’s Sam Cacucci, and NuQuest/Bridge Pointe’s Mark Popolizio. LVL Claims’ Paul Lavelle will moderate the panel with Advisen’s Jim Blinn
 

REGISTRATION:  Reserve your spot using this link:

https://www1.gotomeeting.com/register/457614161

 
We hope you can join us!

 

Comments 0 COMMENTS POSTED IN Upcoming Events
Goodbye to Reforms of 2002
Posted by Plus Master at 7:11 AM
 

It took just five weeks after the WorldCom accounting scandal erupted in 2002 for Congress to pass, and President George W. Bush to sign, the Sarbanes-Oxley Act. That law required public companies to make sure their internal controls against fraud were not full of holes.

It took three more years for Bernard Ebbers, the man who built WorldCom into a giant, to be sentenced to 25 years in prison for his role in the fraud.

Mr. Ebbers will be 85 years old before he is eligible for release from prison. He may be freed, however, before the law is ever enforced on the vast majority of American companies. A Congressional committee voted this week to repeal a crucial part of the law. Other parts are also under attack.

Sarbanes-Oxley was passed, almost unanimously, by a Republican-controlled House and a Democratic-controlled Senate. Now a Democratic Congress is gutting it with the apparent approval of the Obama administration.

Read the full story here on the New York Times website.

Comments 1 COMMENTS POSTED IN Directors and Officers
LG's Guide To The PLUS Conference 2009
Posted by Larry Goanos at 10:11 PM
 

Greetings fellow insurance professionals, my name is Larry Goanos and I will be your guest PLUS Conference 2009 blogger for the next week or so.  Hopefully it will be an enjoyable ride, if you stay with it, but at the very least it won’t be painful.  I hope not anyway, but more on that a bit further down.

 

Almost everyone who has spent any time in the professional lines insurance industry knows that PLUS is the preeminent professional organization in our corner of the industry.  And foremost among PLUS’s events (if you don’t count the golf outings, which are always foremost to me….) is the annual international conference held in November.  It’s THE (yes, that did merit bold-facing and underlining) event of the year for networking among industry colleagues.  It also gets you up to speed on the latest issues facing our business.  If it were a confectionary treat, the PLUS conference would be a Razzle – both a gum and a candy. Networking and learning, you can’t choose just one. But why would you want to anyway?  Maybe they should call it the Razzle Conference.  But I’m guessing they won’t…stay with me, it gets better.  When was the last time you read about a Razzle in an insurance blog? 

 

Anyway, I made a proposal to the PLUS people a few weeks ago and, to my semi-surprise, they accepted: I am going to road trip from New York to Chicago in a rental car to attend the PLUS conference (I may fly home though, not sure about that yet, so don’t hold me to the "driving-round-trip" thing just yet…) and I will be blogging about both my trip and the conference.  I will attend conference sessions and networking events (read: parties) and provide updates and summaries, which should prove especially valuable to those people who can’t attend in person.  I will also most likely blog about 7-11s and rest stops along the way.  If you've never driven from New York to Chicago I will make you appreciate why  

 

I am very much looking forward to this adventure and I hope it will yield some reading pleasure for those of you who are kind enough to log in to check my postings.  Most of you don’t know me (although maybe you do since it is quite possible that only my friends will read this…) so I’ll just provide a few words on my background. 

 

I have been in professional lines insurance for 20 years, working at various times as coverage counsel, underwriting manager and broker.  I have worked at: 1) law firms in New York and Boston; 2) AIG for 6.5 years (in two stints); 3) Marsh for 4 years (also in two stints); 4) ACE USA; and 5) a subsidiary of Houston Casualty (one stint each on the last two; normally one wouldn’t have to specify that but you’ve seen my pattern.) 

 

Last year I had a book published on the professional lines insurance industry which, to my great surprise – and gratitude – was read and favorably reviewed by, among other people, Warren Buffett.  Yes, THAT Warrant Buffett, not some bogus cousin of mine by the same name.  The book is still available for purchase (we printed 4,000 copies and have about 1,000 left to sell) but I’m not going to lower myself to providing the ordering info.  I don’t want to make a shill of myself in my first posting.  Check back in a few days however, I’m sure I’ll be a shill by then.  All of the book’s proceeds are being split among four charities, including the PLUS Foundation, so I won’t feel so bad about being a shill.  And a shrill shill at that.   

 

OK, so I think I’ve covered the essentials for an initial posting.  You know the basics: I’m driving to Chicago from New York, I’ll be blogging about my travels, the PLUS Conference sessions and the parties.  Plus other things which may occur in between.  And I didn’t just use the word “plus” to be cute or clever, but it seems that way now so if you think it is indeed cute or clever I will take credit for it.  I will endeavor to make my postings informative and/or entertaining, and if you should nod off at any point while reading them I will give you a full refund of your subscription price (I now refer you to that Billy Preston song, “Nothing From Nothing Leaves Nothing.”)  I will also post photos when warranted (translation: when people don’t pay me enough to not post them.)    

 

Anyway, I hope you enjoy my observations and musings, and if you do, please tell all of your friends, the more hits the merrier.  I’m sure you’ve all seen that sign in various business establishments “If you enjoyed your experience here tell your friends, if you didn’t, tell us.”  Well I subscribe to only the first half of that sentiment; if you don’t enjoy my blog just keep it to yourself please, no need to spread more negativity in the world! 

 

Ok, signing off now, I have to come up with some type of clever sign off to use on a regular basis, like Kasey Kasem’s “Keep your feet on the ground but keep reaching for the stars,” but for now I’ll just say so long and I’ll hope that you come back.  I expect my next posting to be on Monday, November 9th when I depart for Chicago in my rental car.  Please contain your excitement, or, as I said to my friend Larry David about 7 years ago, curb your enthusiasm.  Thank you!   

 

 

 

Comments 5 COMMENTS POSTED IN Upcoming Events
States Are Pondering Fraud Suits Against Banks
Posted by Plus Master at 7:11 AM
 

Newly empowered by the Supreme Court, the attorneys general of several states hit hard by the housing collapse are exploring consumer fraud suits against major mortgage lenders.

Frustrated by the banks’ inability or unwillingness to stop an avalanche of foreclosures, the states are considering lawsuits over the creation and marketing of millions of bad loans as well as the dismal pace of mortgage modifications, David Streitfeld and John Collins Rudolph write in The New York Times.

Such cases would have been impossible until recently, because federal regulators had exclusive oversight of national banks. But a 5-to-4 Supreme Court decision in June allowed the states to exercise their own supervision, giving them significant leverage.

Read the full story here on the New York Times website.

Comments 1 COMMENTS POSTED IN
The PLUS Community
Posted by Plus Master at 8:11 AM
 

 

PLUS understands that networking is one of the major reasons individuals join PLUS. Did you know that networking continues after the face to face events and meetings PLUS holds throughout the year have finished?

PLUS has a host of online areas created for the essential collaboration and connections necessary to be successful in the professional liability industry.  In addition to the PLUS Blog, we are on LinkedIn, Twitter and Facebook.

We have created these free groups in order to increase the value of our professional network to reach both members and non-members, attract new members, grow a social community around the PLUS brand, and continue to be the quintessential source of information and education on professional liability.

Find out more by visiting the PLUS Community page of the PLUS Website.

 

 

Comments 0 COMMENTS POSTED IN Recent News
CIT Files Bankruptcy: What Is Result on Small Business?
Posted by Plus Master at 7:11 AM
 

 

Comments 2 COMMENTS POSTED IN Recent News
PLUS Conference 2009 Session Material
Posted by Plus Master at 11:11 AM
 

We've posted session material from seven of the upcoming sessions at the 2009 PLUS International Conference.

Visit the PLUS Conference home page and then click on the Material tab.  We will continue to add more information as it becomes final.

Thank you.  We look forward to seeing you in Chicago!

Comments 0 COMMENTS POSTED IN Upcoming Events
Fund Directors Warily Eye Supreme Court Case
Posted by Plus Master at 8:11 AM
 

Directors of mutual-fund boards are watching warily as an important case on fund fees comes before the U.S. Supreme Court.

They fear that Jones v. Harris Associates, which the Court is set to hear on Monday, could create a new standard for setting fees and possibly open the gates to a flood of litigation, or remove directors from the fee-negotiation process altogether. If the court in some way opens the door to more fee challenges, it could also become more difficult to hire directors.

None of that would be good for shareholders or directors, says Jamie Baxter, vice chair of Putnam Funds. "If all someone has to do is file a case, saying, 'these fees are too high,' then you have to defend it."

In August 2004, three investors in Oakmark Funds sued Harris Associates, the funds' creator and adviser, alleging it breached its fiduciary duties by charging excessive fees to individual investors compared with those charged institutional shareholders. A district court and an appeals court have sided with the funds.

"I've been on the other end of those cases, where shareholders have said Putnam's fees are too high," said Baxter. The shareholders haven't won, but preparing and going through depositions requires an enormous amount of time and effort and costs shareholders' money, she said.

The role of boards is central to the Jones v. Harris Associates case, as the plaintiffs have alleged there were conflicting relationships among the trustees and Harris personnel. Many expect that the Court will give boards guidance on negotiating fees.

Under the Investment Company Act of 1940, boards, including independent directors, are charged with the primary responsibility for protecting investors' interests. In 1970, boards' roles in evaluating and approving advisory fees were expanded. Those amendments also imposed a fiduciary duty on a fund's adviser regarding compensation for services from the fund, and gave fund shareholders the right to sue for a breach of that duty.

Read the full story here on the Wall Street Journal website.

Comments 1 COMMENTS POSTED IN Directors and Officers

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