Word: jacks
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Rearden, president of Duncan Peek Inc., an Atlanta insurance brokerage, earns commissions selling policies at soaring premium rates. But when the time came to renew his own professional liability policy, his carrier wanted to jack up his $13,000 premium by 861%, to $125,000; Rearden had to scramble to find another company that would only triple his premium cost. "And that's me, and I'm in the insurance business!" wails Rearden. "That's what I mean when I say this crisis is affecting everybody...
...explains Jacob. Finally, the park district, gun-shy because several suits are still pending against it, began tearing down all jungle gyms and slides over 6½ ft. high and carting them out of the city's 513 playgrounds. "Accidents happen no matter what you do," says Park District Treasurer Jack Matthews. "In the past, when Johnny fell off the swings, the park superintendent took him to the hospital, and that was the end of it. Now the parks are inundated with suits...
...salary, which was taxable at a top rate of 50%. In 1984 he filed suit, contending that his winnings were the product of skill and hard work. Last week the U.S. district court in Nevada agreed and ordered the IRS to give a refund with interest. Said Baxter: "Jack Nicklaus gets to file his prize money as earned income...
...system appears to be working. It has helped limit the annual increase in hospital costs to 5% and reduced the average hospital stay for Medicare patients from 9.5 days in 1983 to 7.5 days last year. Many private insurers have introduced DRG systems of their own. Says Jack Owen, executive vice president of the American Hospital Association: "The DRGs have created efficiency and economy...
Inheriting the family business seems a wish more appropriate to builders and bankers than ballplayers and boxers. Yet Joe Frazier is a cornerman for son Marvis. Jack Nicklaus II contemplates having his own whirl at the golf tour. And Don Shula has just promoted his oldest boy David to assistant head coach of the Miami Dolphins. "It's a wonderful thing when a son follows you in your life's work," Shula says, a sentiment probably shared by Buffalo Quarterback and Congressman Jack Kemp. At Dartmouth, David Shula caught most of his passes from current Los Angeles Rams Quarterback Jeff...