Word: spokesmanned
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...reasonably accurate." But other insurers named in the study strongly dispute its claims. The NEJM letter states that, for instance, Canadian firm Sun Life Financial, which offers life, health and disability insurance, holds just over $1 billion in tobacco investments. In an e-mail to TIME, however, Sun Life spokesman Michel Leduc called this number "categorically incorrect." Although he would not disclose specific holdings, Leduc said that of the company's $100 billion investment portfolio, less than 0.005% was exposure to tobacco stocks. "Sun Life's investments in renewable-energy projects are over $1.2 billion. We also invested about...
...MassMutual, the gap is even bigger. The study claims the firm's tobacco holdings to be $585 million. That is "absolutely incorrect," says Mark Cybulski, a MassMutual spokesman. "Massachusetts Mutual Life Insurance Company has virtually no equity holdings in companies whose offerings include tobacco-related products. As of December 31, 2008, MassMutual's holdings of tobacco-related equities are approximately $548,000, representing less than 0.001% of consolidated statutory cash and invested assets of $86.2 billion...
...exposure to tobacco stocks stems from client assets in index funds, such as those pegged to the S&P 500, which, of course, includes firms like Philip Morris and Lorillard. Many of the insurers contacted by TIME declined to outline the specifics of their investment portfolios, but a Prudential spokesman, Darrell Oliver, noted that as a policy, Prudential does not invest in tobacco stocks for its own portfolios: "Some Prudential entities hold tobacco stocks. Those stocks are primarily part of index-related strategies managed for separate accounts or other portfolios managed for third parties...
Despite recent chatter that the University plans on instituting mass layoffs later this month—after the conclusion of Commencement activities—both a union leader at Harvard and a University spokesman say that negotiations about staff reductions remain in the early stages, making any discussions of a timeline premature. “The persistent rumors out there [are] based on the mythology that the University is one big coordinated entity and that some Harvard office is the keeper of the list of people to be laid off,” said Bill Jaeger, director of the Harvard...
...crisis as never before, the challenge of re-establishing its luster has never been greater. Leaders like Johnson and Nixon may have besmirched it but they never argued outright that law should be subservient to executive power. The Bush administration, with Cheney as its architect and now its spokesman, flat out attacked our core American ideal, attempting to convince us and the world by its actions and rhetoric that Law is an inconvenient impediment to security to be openly dispensed with at executive behest...