Declarations

Private Equity, in Hindsight

“It’s turned out that private equity went into the insurance world as it was going down. They seem like they went in at a high number and they’re selling at a low number. So I don’t think private equity has really benefited by what they have been doing in the insurance world, and I would anticipate that more private equity will leave the insurance scene than stay in the insurance scene.”

—Alan Kaufman, CEO of Burns & Wilcox, commenting on the state of the market and the impact it’s had on private equity firms who had gotten into the insurance business in the earlier part of the decade.

Limited Jurisdiction

“It is important that all of you know that the Special Master’s jurisdiction is quite limited, and we expect Feinberg’s upcoming decisions on compensation to cover only the top 25 employees at AIG.”

—AIG Chief Executive Robert Benmosche assuring employees that recently appointed U.S. pay czar Kenneth Feinberg will not attempt to claw back their compensation. But Feinberg has taken steps to limit the compensation of the top 25 executives at AIG and other firms that received federal bailouts.

One of the Most Lacking

“South Dakota is among 10 states recently identified as most lacking in traffic safety laws. Safe and Sound South Dakota believes enhanced legislation will create a safer environment for inexperienced young drivers and children in South Dakota.”

—Dr. Joan Nold, a neonatologist. More than a dozen organizations and state Sen. Ben Nesselhuf of Vermillion have formed Safe and Sound South Dakota, a coalition they say is designed to promote traffic safety legislation. The coalition has said its priorities include strengthening the existing graduated driver’s licensing law, adopting primary enforcement of seat belts and extending and strengthening child booster-seat laws.

A Clear Message

“The message should be clear: If someone has consumed too much alcohol or any substance for that matter, they need professional medical attention.”

—Ingham County (Michigan) Medical Examiner Dean Sienko, commenting on recently approved legislation in that state that says minors in Michigan won’t face prosecution for underage drinking if they or their friends call 911 for medical assistance. The measure is designed to prevent cases where minors are too afraid to call authorities, and they or their friends die from alcohol poisoning or other health problems as a result. The legislation had the backing of state law enforcement and college students.