Cuomo probes six more life insurers – Legal News Line

May 1st, 2012 by maureen | No Comments | Filed in Hot News
NEW YORK (Legal Newsline) – New York Attorney General Andrew Cuomo has subpoenaed six additional insurers as the State continues its probe into whether life insurance companies have defrauded families of deceased military members.

“It is shocking and plain wrong for these multinational life insurance companies to pocket hundreds of millions in profits that really belong to those who have lost family members,” Cuomo said in a statement Thursday.

Genworth Financial, Inc., Guardian Life of America, AXA SA’s MONY Life Insurance Co., New York Life Insurance Co., Northwestern Mutual Life Insurance Co. and Unum Group received the subpoenas, Cuomo spokesman Richard Bamberger said Friday.

Cuomo, who is running for the Democratic nomination for governor of New York, has now subpoenaed at least eight companies. On Thursday, his office said it issued subpoenas to MetLife, Inc., and Prudential Financial, Inc.

The attorney general is looking into whether life insurers are defrauding families of deceased military personnel by funneling millions of dollars worth of death benefits to themselves.

At issue is whether the insurers, rather than pay out lump sums upon the deaths of the policyholders, instead are keeping money in potentially risky accounts they control, and paying low yields to the survivors.

“It appears that the substantial interest earned on these accounts mostly benefit and enrich the insurers at the expense of the families to whom the money really belongs. And, beneficiaries are not adequately informed by the insurers of the details of these accounts including the fact that the insurers are making huge profits at the expense of the grieving family,” Cuomo said.

“Specifically, the insurers place the cash belonging to these families in the insurers’ corporate accounts, reportedly earning the companies upwards of 4.8 percent. The insurers then pay families as little as 0.5 percent interest — less than half the rate available at some FDIC insured banks.”

However, the practice is common, but not universal, in the life insurance industry, according to the Wall Street Journal.

By keeping the money, insurers are able to earn a higher return on the funds than they pay out in interest.

The accounts, according to the Journal, have been around for at least two decades, and state insurance regulators — who monitor and regulate the practice — say they can serve as a useful option for consumers not yet ready to make immediate financial decisions.

Contact writer Jessica Karmasek at jessica[at]legalnewsline.com.

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NASCAR’s Rodney Dangerfield – Bay News 9

April 2nd, 2012 by maureen | No Comments | Filed in Hot News

Comedian Rodney Dangerfield was known as the guy who never got any respect, and right now, NASCAR driver Mark Martin knows exactly how that feels. After last season, Martin signed on for two more seasons to drive the #5 Chevy for Hendrick Motorsports. That would keep him in the seat of the #5 car through next season in 2011. Three months ago, Kasey Kahne signed with Rick Hendrick to step into the #5 car in 2012 when Martin departs. That deal however, included the promise that Hendrick would get Kahne a ride for 2011. Since Hendrick Motorsports is already at its four team limit, that means they have to put together a deal with another team in order to find a ride for Kahne. So far, Hendrick has not been able to get that deal done, which naturally kicks the rumor mill into high gear.

When asked about his plans for next season, Mark Martin has repeatedly said that he is under contract to drive the #5 car next season and that is exactly what he plans on doing. Speculation however, has been circulating through the garage that Martin will step aside and allow Kahne to go ahead and move into the #5 car next season. When asked about that scenario, Martin once again reiterated that he will be driving the #5 car next season. As the rumors keep circulating, so do the same old questions. Will Mark leave, so Kasey can step in to the ride? It has finally gotten to the point where Martin says he feels “very disrespected” because no one believes him. He repeatedly takes the same stance that he will drive the #5 car next season, but the pundants just keep asking it over and over again. Mark says that he has given them an answer, but they just won’t accept it. Where is the respect for a veteran driver that for the most part during his career has been very honest and direct with the media… Sometimes too direct.

The issue reared its ugly head again this past weekend, as former crew chief and now TV commentator, Ray Evernham said that he thinks Martin will step aside and let Kahne drive the #5 car for “the good of the Hendrick organization.” Remember now, that Evernham was crew chief for Jeff Gordon at Hendrick Motorsports, and some think that Evernham was merely doing Hendrick’s dirty work by suggesting that Martin should bow out gracefully. And once again, Dangerfield, I mean Martin, has to repeat the same answer he has given all alone. Having to repeat himself is getting a little frustrating for Martin, who suggested that that the media should be focusing on what Kasey is going to do next season, because he has told them what he is going to do, drive the #5 car.

Perhaps the reason for the speculation comes as Martin, who won five times and was in the championship hunt until the final week last season, is currently trying to fight his way out of a slump that has left him winless in 2010 and currently outside of Chase.

The official response this past weekend from team owner Rick Hendrick is that he will not force Martin out of his ride, and that they will honor their contract with Mark. Gee thanks Rick! It’s the least that you could do for the 51 year old driver, who certainly gave you more than your moneys worth last season. Now let me say this I respect Rick Hendrick as one of the nicest, most honorable team owners in the sport. HOWEVER… Rick I think you dropped the ball on this one. Right after he said that they would honor Mark’s contract, he added that the decision was Mark’s to make and that he would not close the door on Kasey Kahne stepping into that seat. What a left-handed vote of confidence for Martin.

Don’t take me wrong, I understand the situation. Hendrick Motorsports has backed their selves into a corner. They have 4 drivers under contract through 2011, but yet they must find a ride for Kasey Kahne next season. Yes, the easiest solution would be for Martin to step aside and let Kahne take over. After all, that is the direction of the future. But I can easily see where Martin feels like he is getting no respect. The media doesn’t believe him when he says he will drive the #5 car next season… His team owner doesn’t sound truly committed to the idea… And the seed was planted by a well respected former crew chief that Martin should step aside for the good of the organization. What about the good that Martin brought to the organization last season, and to NASCAR, for that fact, over the past 30 years. I understand how the business of racing is fueling this fire. But I also understand that after some three decades in the sport, Mark Martin deserves better than Rodney Dangerfield.

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The Anchorage Daily News reports military plane crashed

March 25th, 2012 by maureen | No Comments | Filed in Hot News

According to the Anchorage Daily News, a military cargo plane crashed while it was doing the training session for the weekend air show on Wednesday. The reports say that the C-17 military cargo plane crashed at around 6:14 p.m. four crew members were on board.

According to the eye witness, he saw a ball of fire in the air that rose hundred of feet high. Lt. Gen. Dana Atkins told that it was a local training mission but unfortunately now no one was expected to survive.

The Anchorage Daily News further reported that the cargo plane crashed at Elmendorf Air Force Base and a number of people witnessed it. Bryan Grella, the Anchorage Fire Dept, Captain told that he and his crew were enjoying the dinner when they witnessed the huge fireball in the air.

The C-17 crashed into the wooden area that was situated in the east of runway. The incident took place when the pilot turned it to the north towards runway 5. About the air show’s starting at the scheduled time, it is yet to be confirmed.

The Anchorage Daily News told that the C-17 is the plane that is mostly used in the air shows. It can take off and land with 44,000 pounds weight in 1400 feet.

The Anchorage Daily

The Anchorage Daily

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Anchorage Daily News

March 22nd, 2012 by maureen | No Comments | Filed in Hot News
BY:Naila 56 minutes ago on Local News      

According to reports a military cargo plane crashed on Wednesday during training for weekend air show. The C-17 military cargo plane crash at around 6:14 p.m. and at the time of crash four people were on board. An eyewitness told that he saw a ball of fire in the air which rose hundreds of feet high. Lt. Gen. Dana Atkins said that it was a local training mission but unfortunately now no one is expected to survive.

Cargo plane crashed at Elmendorf Air Force Base and many people saw the fireball. Bryan Grella, the Anchorage Fire Dept. Captain, told that he was with his crew and they were having dinner when they saw a huge fireball in the air.

The C-17, which crashed on Wednesday, was assigned to Elmendorf’s 3rd Wing. It crashed into the wooden area which was in the east of runway. The incident happened when the pilot turned it to the north towards runway 5. No confirmation has been received from the air show organizers whether it will start on the scheduled time or not.

At the time of crash Roger Herrera was driving on Turpin Street when they saw the incident and he told that his wife thought that it was a nuclear bomb. He said that he tried to capture it but he couldn’t do it. Due to the ability of short distance landing and takeoff the C-17 mostly use in air shows. It can also take off and land with 44,000 pounds weight in 1,400 feet.

Anchorage Daily News

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FRabJABULous art – Maple Ridge News

March 20th, 2012 by maureen | No Comments | Filed in Hot News

Get ready for a fun and colourful experience at The New Creations Art Gallery.

The gallery’s latest show features work by Ann Blackwell and Tammy Routley.

Blackwell and Routley met in 2003, during the spring Art Studio Tour, when Blackwell opened her home studio to the public.

The pair connected right away, sharing a playful, inquisitive approach to their art-making. Blackwell is a mixed media artist, currently focusing on beadwork and doll-making. She is also creating a “Mandala of Friends” for the show.

Routley works in illustration, combining hand-drawn images with computer colouring. She makes puzzles, cards, and magnets.

The name of the show is derived from Lewis Carroll’s word “frabjous” in the Jabberwocky poem, says Blackwell. “Oh frabjous day” being the day that the Jabberwocky is slain. Looking for something with a few more syllables, Blackwell and Routley found “frabjabulous” in the Urban Dictionary, and it stuck.

• Meet the artists at an opening reception Aug. 6 6:30 to 9 p.m. The gallery is located behind Jim’s Pizza, at 22409 McIntosh Ave in Maple Ridge. Hours are Tuesday to Saturday 11 a.m . to 4 p.m. and Sunday noon to 4 p.m.

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Americas Got Talent: Mike Posner, Jabberwock, and results! – New York News Today

March 20th, 2012 by maureen | No Comments | Filed in Hot News

Americas Got Talent: Mike Posner, Jabberwock, and results!


Billboard Bits: Michael Jackson’s New Music in the Works, Jessica Simpson talks with “Idol”

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Michael Jackson is in the works, Jessica Simpson is in talks to judge “Idol” Rihanna speaks “Love The Way You Lie” and more. More … >

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Concert Roundup: John Mayer, Green Day, Willie Nelson, others

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has come to Camden and Holmdel.He ‘s only 32, but John Mayer has already established himself as many things: a pop singer occasionally, brutally honest and sometimes controversial interview, dating celebrities, a phenomenal … rel=’nofollow’ target=’_blank’ rel=’nofollow’ target=’_blank’ href = “http://www.nj.com/entertainment/music/index.ssf/2010/07/concert_roundup_john_mayer_gre.html” Read more … >

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