Word: aetna
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Attorney General-designate Zoe Baird, 40, a legal counsel in the Carter White House, now a senior executive of the Aetna Life and Casualty...
...Aetna...
...sluggish profits that went with it, has touched off an industrywide shake-out. State Farm, the nation's largest property-casualty insurer, has racked up underwriting losses of $7.2 billion in the past four years, due largely to price competition and rising claims. In response to softening profitability, Aetna Life & Casualty will pare 4,800 jobs from its payroll by 1994, including 2,600 this year. Some insurers are even abandoning the market. Transamerica put its property- casualty division up for sale two months ago. So far, no takers...
...writes off other assets. Unocal plans to eliminate 1,100 of its 17,000 jobs worldwide, mostly in the U.S. And Mobil said it is paring 2,000 salaried jobs, or 9.5% of that group. The energy giants joined such diverse blue-chip companies as Hughes Aircraft and Aetna in declaring sharp cutbacks in this summer of economic discontent...
...confirmed, Franklin will bring a power-packed resume to the position. The Harvard M.B.A. served as a headhunter in the Nixon Administration, a vice chairman of the Consumer Product Safety Commission from 1973 to '79, and is a director of seven corporations, among them Aetna, Dow Chemical and Westinghouse. A savvy Republican fund raiser, Franklin co-chaired a dinner last fall that gathered $1.2 million for Bush's 1992 campaign. Her appointment is also a campaign tactic to boost Bush's support among women, 54% of the voters...