After the arrest last year of its chairman, Carlos Ghosn, Nissan has made a very public accounting of its management failures, from a lack of strong internal checks and balances to board meetings that lasted only 20 minutes. That frankness may play well with the Japanese public and with prosecutors, who have charged the company and Mr. Ghosn with financial wrongdoing. But Nissan’s disclosure of its problems at the top could cost it dearly, and deliver a potential gold mine for the lawyers who squeeze multimillion-dollar settlements out of corporations accused of wrongdoing. A small pension fund in Jackson, Mich., that says it serves over 1,200 members, the Jackson County Employees’ Retirement System, is helping to lead the way. It holds 14,000 proxy shares of Nissan stock, and it has sued the Japanese automaker in a Tennessee federal court, asserting that its stake — today worth about half its purchase price — took a substantial hit after Nissan was revealed to … [Read more...] about Nissan Got Rid of Carlos Ghosn. The Way It Did So May Prove Costly.
Rhode island automobile insurance
WARWICK – Insurance giant MetLife Inc. has named Darla Finchum as head of its Warwick-based auto and home business. Finchum had been serving in that role on an interim basis since August, when her predecessor, Kishore Ponnavolu, was named president of the company’s Asia region. Prior to that, Finchum served as chief claims officer for MetLife’s auto and home business. She joined the company in 2000 through its acquisition of the St. Paul Cos. personal lines business, and since then she has held multiple roles of increasing seniority in the company’s claims organization. New York-based MetLife, the holding company for Metropolitan Life Insurance Co., is among the largest providers of insurance, annuities and employee benefits programs. Established in 1972 and headquartered in Warwick, MetLife Auto & Home is one of the nation’s leading personal lines property and casualty insurance providers. The division insures nearly 4 million automobiles and homes … [Read more...] about Finchum named head of MetLife’s auto and home business in Warwick
LINCOLN – Amica Mutual Insurance Co. is offering the company’s full-time employees $100 a month each – and up to $6,000 total per person – to help them repay student loans, the company announced. “We want to help our employees reduce stress and improve their financial well-being,” said Jill Andy, senior vice president in Amica’s human resources department. “With student loan debt growing nationwide, this program will help our current employees with this expense, and it makes Amica an even more competitive employer.” Amica has about 4,000 employees nationwide, including about 1,600 in Rhode Island – all at the company’s headquarters in Lincoln. Amica is offering the benefit through a partnership with Bright Horizons EdAssist Solutions, a Watertown, Mass.-based firm that offers benefits programs for employers and parents. “We see so many young professionals struggling with student loan debt today – it affects … [Read more...] about Amica helps employees with student loan debt
Motorists with out-of-state license plates are finally paying parking fines after years of avoiding the fees - pumping millions of dollars into city coffers, the Daily News has learned. A recent crackdown on scofflaws with non-New York tags has netted $18 million from Connecticut and Pennsylvania in the last 6-1/2 months alone, the Finance Department reported. The end of the gravy train follows years during which the city did not pay other states for access to driver databases - and thus could not tow or collect from parking offenders from those areas. "It would seem this would be one source of shoring up the budget deficits that exist in this city," said Robert Sinclair, a spokesman with American Automobile Association of New York. Owen Stone, a Finance Department spokesman, said the obstacles to finding the offenders have been eliminated thanks to Law Enforcement Systems, the company providing the records to the city. "There's nothing preventing us from being able to tow," … [Read more...] about Company helps track down out-of-state parking scofflaws, pumping millions of dollars back into city
First of two partsThe makers of prescription painkillers have adopted a 50-state strategy that includes hundreds of lobbyists and millions in campaign contributions to help kill or weaken measures aimed at stemming the tide of prescription opioids, the drugs at the heart of a crisis that has cost 165,000 Americans their lives and pushed countless more to crippling addiction.The drugmakers vow they’re combating the addiction epidemic, but The Associated Press and the Center for Public Integrity found that they often employ a statehouse playbook of delay and defend that includes funding advocacy groups that use the veneer of independence to fight limits on the drugs, such as OxyContin, Vicodin and fentanyl, the narcotic linked to Prince’s death.The mother of Cameron Weiss was no match for the industry’s high-powered lobbyists when she plunged into the corridors of New Mexico’s Legislature, crusading for a measure she fervently believed would have saved her … [Read more...] about Millions spent to push opioid laws