Word: pension
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Critics have long charged that Carey stood by while his own local, 804, was infiltrated by organized crime. In 1992, Carey's treasurer was barred from the union for allegedly taking kickbacks in return for investing the local's money in a pension-fund scheme. Carey, who received immunity in return for testimony, stated he had no knowledge of those investments, even though they were the local's biggest cash outlay in the early...
...accusation surfaced yesterday in a Boston Globe report that follows days after state officials began an investigation into allegations that Nadal-Ginard, Nadas Professor of Pediatrics diverted more than $100,000 from the cardiology group's revenue to add to his personal art collection and received a substantially larger pension than his colleagues...
Nadal-Ginard, chief of cardiology at the Boston Children's Hospital, and his colleagues in the Children's Heart Foundation, the hospital's cardiology practice, deferred part of their salaries to their pension plans over the years, The Globe reported...
When he and two other cardiologists, Dr. James Lock and Dr. Michael Freed, cashed out the pension plan last year, Nadal-Ginard received between $4 million and $5 mil- lion--far more than any other member of thegroup, according to the report...
...expanding Mexican marketplace. The Principal Financial Group, a concern based in Des Moines, Iowa, last month won the first new insurance license Mexican authorities have issued to a foreign firm in more than 50 years. Principal has a 30% stake in a Mexican venture that markets insurance and pension plans. "The Mexican insurance industry needs a dose of marketing expertise," says Camilo Salazar, vice president of international operations for Principal...