June 2010 Archives

Finance professor Anjan Thakor testified as an expert witness for the government Tuesday in the resentencing of former Qwest chief executive Joe Nacchio, who is serving a six-year prison term for illegal insider trading.

Thakor said Nacchio illegally gained as much as $32.9 million from the insider stock sales for which he was convicted in 2007, according to court documents. The gain amount — the portion of the proceeds that can be attributed to the nonpublic information Nacchio based his stock sales on — is a key sentencing factor.

Read more: denverpost.com.

Perini Building Co. and MGM Mirage are preparing for a court battle over nearly $500 million in disputed construction bills at Las Vegas CityCenter, an $8.5 billion project, the largest private project in U.S. history.  "The claims and counterclaims in this case are immensely complicated and complex," said George Ogilvie, managing partner with McDonald Carano Wilson LLP, which represents Perini. "The court and the parties must be mindful of the impact of this litigation not only on Perini, but also on the subcontractors and suppliers whose livelihoods and very existence are at stake."

MGM Mirage gains greater negotiating leverage by bypassing its general contractor and dealing directly with subcontractors, industry observers said.  "It enables MGM to beat down smaller-sized, cash-strapped companies and pay pennies on the dollar," said one construction expert who requested anonymity. "The option is to face endless and costly litigation, with no promise of additional compensation in the future. Unfortunately, this 'divide-and-conquer' approach has become a common close-out model on large-sized projects."

For more, see lasvegasbusinesspress.

The National Highway Traffic Safety Administration (NHTSA) designated May 24-June 6, 2010, Click it or Ticket (CIOT) Mobilization Week.  According to a James Madison University study, one out of every five drivers will be involved in a traffic crash this year. Safety belts, when used properly, reduce the number of serious traffic injuries by 50 percent and fatalities by 60-70 percent. CURE Auto Insurance reminds drivers to drive safe, always wear a seat belt, and provides the following statistics to consider before getting behind the wheel.

• If 90 percent of Americans buckle up, more than 5,500 deaths and 132,000 injuries annually can be prevented (source: car-accidents.com).

• For maximum protection, safety belts should be fastened before traveling any distance or speed. Seventy-five percent of crash deaths and injuries occur within 25 miles of home. More than half of all injury-producing motor vehicle crashes involve low speeds under 40 m.p.h. (source: James Madison University).

Citizens United Reciprocal Exchange, (CURE) is a not-for-profit reciprocal exchange headquartered in Princeton, N.J. Founded in 1990 by New Jersey Insurance Commissioner James J. Sheeran and award-winning insurance expert, Dr. Lena Chang.

The National Highway Traffic Safety Administration (NHTSA) designated May 24-June 6, 2010, Click it or Ticket (CIOT) Mobilization Week.  According to a James Madison University study, one out of every five drivers will be involved in a traffic crash this year. Safety belts, when used properly, reduce the number of serious traffic injuries by 50 percent and fatalities by 60-70 percent. CURE Auto Insurance reminds drivers to drive safe, always wear a seatbelt, and provides the following statistics to consider before getting behind the wheel.

• Adults who don't buckle up are sending children a deadly message that it is alright not to wear a seat belt. Children model adult behavior. Research shows that if a driver is unbuckled, 70 percent of the time children riding in that vehicle won't be buckled either (source: NHTSA).

• Despite terrible traffic problems such as aggressive driving, increasing seat belt use is still the single most effective thing we can do to save lives and reduce injuries on Americas roadways (source: NHTSA). Sixty-three percent of people killed in car accidents were not wearing seatbelts (car-accidents.com).

Citizens United Reciprocal Exchange, (CURE) is a not-for-profit reciprocal exchange headquartered in Princeton, N.J. Founded in 1990 by New Jersey Insurance Commissioner James J. Sheeran and award-winning insurance expert, Dr. Lena Chang.

The National Highway Traffic Safety Administration (NHTSA) designated May 24-June 6, 2010, Click it or Ticket (CIOT) Mobilization Week.  According to a James Madison University study, one out of every five drivers will be involved in a traffic crash this year. Safety belts, when used properly, reduce the number of serious traffic injuries by 50 percent and fatalities by 60-70 percent. CURE Auto Insurance reminds drivers to drive safe, always wear a seatbelt, and provides the following statistics to consider before getting behind the wheel.

• Failure to buckle up contributes to more fatalities than any other single traffic safety-related behavior. Every hour someone dies in America simply because they didn't buckle up (source: NHTSA).

• Safety belt use is one of the best defenses against the unpredictable actions of drunk drivers (source: James Madison University).

Citizens United Reciprocal Exchange, (CURE) is a not-for-profit reciprocal exchange headquartered in Princeton, N.J. Founded in 1990 by New Jersey Insurance Commissioner James J. Sheeran and award-winning insurance expert, Dr. Lena Chang.