Word: novelli
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Sources familiar with AARP say the group will for the first time acknowledge that "third rail" political issues like raising the retirement age, indexing Social Security benefits for age and increasing the taxable wage base need to be openly debated. And Novelli says AARP won't lobby just for its powerful constituency, the 37 million citizens over 50 who belong to his organization. "We have to be fair to all generations, and all options should be on the table," he says. "But AARP is going to be vocal and strong...
...consume 40% of the federal budget through such programs as Social Security and Medicare. And policy experts fear that the coming wave of seniors could swamp those programs--leaving a gift of higher taxes and reduced benefits for their kids. "The crisis is coming--we know that," says Bill Novelli, CEO of AARP...
That's why, Novelli says, AARP will leverage its increasingly powerful brand to offer prescriptions for America's most pressing fiscal problems--and drive its own revenues to more than $1 billion in the process...
AARP is also energizing its highly profitable royalty business, AARP Services Inc. It's a separate for-profit entity that arranges licensing and endorsement deals, renting the AARP name (and discount) on everything from rental cars to medication. AARP Services also provides health insurance with partner United Healthcare. Novelli says AARP Services is "the fuel that runs the jet engine...
William D. Novelli is Chief Executive Officer of the AARP...