674:
probably violated some states' securities laws. The report noted that the board's compensation committee had approved the repurchase plan even though its members were prohibited from making decisions relating to their own compensation. Although the report said no Ullico directors or officers had violated criminal laws, it did strongly recommend that all board members return any profits to the company. Finally, the report found that Ullico officers may also have made millions of dollars in profits in special purchases and other bonuses, which may not have been properly approved.
1678:
622:
2, 2000, Ullico's board approved a plan to repurchase $ 30 million worth of Ullico stock at $ 146 a share. Board members were permitted to sell all of their shares, making nearly $ 13.7 million in profits, while the unions and their pension plans were allowed to sell only a fraction of their shares. In May 2001, the Ullico board, acting on the recommendation of its auditor, set the company's share price at $ 74 (a new, lower price established almost exclusively by the drop in Global
Crossing shares).
687:, then president of the AFL-CIO and one of the board members who did not participate in the stock trading scheme, demanded the release of the report. Georgine and Sweeney engaged in numerous heated arguments for several weeks, debating whether to release the Thompson report. Finally, on December 1, 2002, Sweeney resigned from the Ullico board in protest. Four other members of the board followed suit over the next month.
593:, gave ULLICO officers and directors the chance to buy shares of his new company at substantially lower prices than offered to the public. All but two of Ullico's directors purchased 33 million shares for $ 7.6 million (or about 23 cents a share), with Ullico buying additional stock. Global Crossing went public, and the stock soared to $ 62 a share in 1999. This netted Ullico about $ 1.1 billion in profit.
25:
93:
1076:
AFL-CIO president John J. Sweeney was not present at the
November meeting, and Laborers president Terence M. O'Sullivan did not participate in the plan. Both were Ullico board members. When he learned what had taken place, Sweeney wrote to Georgine demanding to know why the stock trade plan had been
621:
A majority of the Ullico board approved the plan. Many board members duly sold their tumbling Global
Crossing shares and bought Ullico stock at the price of $ 53.94 a share. In May 2000, acting on the auditor's recommendation, the Ullico board of directors approved a share price of $ 146. On November
524:
plan. The stated reason was that the proposal had no chance of being enacted by
Congress. But outside observers argued that the real reason was that government-supplied universal health care would have put union-run health insurance plans out of business. The deciding vote in the health committee was
277:
More than 85 years ago, The Union Labor Life
Insurance Company (Union Labor Life) became the founding unit of Ullico Inc. Today, Union Labor Life provides life and health solutions specifically tailored for the labor market. Through alliances with market leaders in risk protection, the company offers
737:
Georgine attempted to stay on as president and CEO of Ullico, but resigned on May 8 after the new board indicated it would attempt to fire him. Georgine subsequently claimed Ullico owed him $ 2 million in severance pay, a claim Ullico disputed. O'Sullivan was elected Ullico's new chairman, replacing
650:
On April 29, 2002, Ullico's board of directors agreed to conduct an investigation into the legality and ethics of the stock sales. The board meeting which preceded the vote was a contentious one, and the all-day meeting ended very late in the afternoon. But in the end, the board unanimously voted to
239:
Ullico Inc.'s mission is to provide financial security to union members and their families. The company offers specialty insurance and investment products to labor organizations, union employers, municipalities and institutional investors, as well as union members and retirees. Ullico is a privately
682:
A fight broke out over whether to make the report public. Thompson made the report available to Ullico's board of directors, and required board members to sign statements promising to keep the findings confidential. Without a board vote to release the report, it would have remained secret. A number
386:
the Union Labor Life
Insurance Company (Union Labor Life), providing life insurance to union workers, which was unavailable at the time. Many Americans worked in hazardous jobs with few, if any, work safety laws in place to protect them. Railroads, construction sites and factories all presented too
642:
published a series of articles about Ullico's insider stock deal. Global
Crossing had filed for bankruptcy in January 2002, and a number of investors suffered significant financial setbacks. Ullico's investment in Global Crossing was well known, and the newspaper's reporters wondered how severely
625:
Meanwhile, Ullico began losing money. The company lost $ 22 million in 2001, and $ 74 million in 2002. Ullico's combined capital and surplus—a key measure of an insurance company's financial health—fell from $ 51.8 million in 2001 to $ 17.95 million in 2002. PricewaterhouseCoopers expressed doubt
599:
In
December 1999, Georgine offered Ullico's officers and directors a chance to participate in its Global Crossing profits. Under Ullico's bylaws, Ullico officers and board members had the right to buy and sell Ullico stock. Georgine sent a confidential letter to board members inviting them to sell
746:
never approved by the board. O'Sullivan also disclosed that Ullico officers had loaned
Georgine $ 2.2 million to purchase 40,000 shares of low-priced Ullico stock prior to the stock trading scheme, further enlarging his profits, and that Georgine's salary had risen from $ 900,000 in 1996 to $ 5.4
282:
Stop Loss
Insurance: Protects self-funded, employer- or union-sponsored healthcare plans from incurring large or unforeseen catastrophic health expenses exceeding the plans predetermined dollar amounts. Union Labor Life helps each organization tailor their Stop Loss plans to each group's specific
259:
As of 2009, the company insured more than two million union members and dependents through $ 25 billion in Life, Accidental Death and Dismemberment insurance. Further, more than six million members were served through $ 125 million in gross written Property and Casualty premiums. Ullico had $ 5.5
713:(the plumbers' union), said they did nothing that directors in other companies had not also done. Meanwhile, an aggravated Thompson issued a public statement accusing Ullico and its legal counsel of making defamatory statements about him and his inquiry and misrepresenting the report's findings.
673:
and both now attorneys at Winston & Strawn), issued a 100-page report just before Thanksgiving. The report harshly criticized Georgine and the secretive, manipulative nature of the stock trades. The report also concluded that the officers and directors had breached their fiduciary duties and
608:
plan. Board members would be able to redeem their Ullico shares at the higher price. When the Ullico shares were re-priced later to reflect the now-worthless Global Crossing shares, the company's stock price would return to near its previous level. It was a chance to sell their tumbling Ullico
704:
At a Ullico board meeting on March 28, Georgine proposed returning his profits to the company. But other board members argued this would pressure them to return their profits, too—something they did not wish to do. The scandal was causing a split in the AFL-CIO's member unions. Sweeney and some
700:
Sweeney's threat, worsening public opinion and continued media scrutiny of the affair led the Ullico board to make the report public. On March 25, 2003, the Ullico board of directors created a special advisory committee to debate the report's release. The advisory committee voted unanimously to
307:
Fiduciary Liability: As trustees and other fiduciaries of multi-employer and public benefit funds face significant personal liabilities, Ullico Casualty Group not only updates insurance coverage as these issues evolve, but knows how to resolve fiduciary claims to protect policyholders’ personal
268:
Ullico Inc. consists of The Union Labor Life Insurance Company (Union Labor Life), Ullico Casualty Group Inc., Ullico Investment Advisers Inc. and Ullico Investment Company Inc. These companies fall into three divisions: Life and Health (Union Labor Life), Property and Casualty (Ullico Casualty
311:
Union Liability: Under federal labor law, officers and directors of labor unions can be exposed to personal liability, but must defend themselves, in certain circumstances, at their own expense. Union Liability covers the duty of fair representation, employment practices liability, financial
412:
and services for administering trust fund business. As other subsidiaries formed, it was clear that Union Labor Life needed another entity for future growth and diversification. In 1987, Ullico Inc. was created as a holding company for Union Labor Life and Ullico Casualty Company.
741:
A deeper investigation by the new board found additional problems. Georgine's profits from the stock trade were found to be far higher than anyone had guessed—nearly $ 8.8 million. Georgine and other Ullico executives also received millions of dollars in special bonuses and
604:. Unlike publicly traded companies, Ullico only set its stock price once a year, based on its prior year book value. When it was, the auditors were sure to recommend a significantly higher Ullico share price. Under the bylaws, the board members could then authorize a
332:
through The Union Labor Life Insurance Company (Union Labor Life) and Ullico Investment Advisors Inc. (UIA). These products, including Ullico's real estate-related Separate Account J (also known as “J for Jobs”), are sold through the Ullico Investment Company (UIC).
391:. Life insurance was either priced out of reach of workers or insurance companies denied coverage because of the risks associated with their jobs. Union Labor Life aimed to provide a new level of stability for workers and increase their standard of living.
770:
In 2001 and 2001, the company issued more stock and sold its newly completed Washington, D.C. office building to raise funds. By Spring 2003, with Terence M. O'Sullivan as the chairman of the new board of directors, Ullico began rectifying its finances.
612:
All Ullico shareholders, including union pension plans, could sell a prorated amount based on their total holding. Yet those with fewer than 10,000 shares—mostly the directors—could sell all their stock. Ullico did not offer the deal to others.
747:
million in 2000. Ullico's compensation committee lacked the authority to approve both the loan and the salary increases but did so anyway. O'Sullivan then issued letters to Georgine and the other officers demanding that they refund this money.
617:
union members, who owned the bulk of Ullico stock through professionally managed union pension plans, were not told of the stock offering and would not be permitted to buy stock at the $ 53.94 price (had they known about the stock offering).
734:) nominated a reform slate of 13 new board members. Georgine withdrew his name as a candidate for the board. O'Sullivan and Maddaloni (who agreed in mid-April to return his $ 418,880 profits) were the lone incumbents to return to the board.
318:
Alternative Risk Solutions: The company's captive insurance programs, managed through Ullico Captive PCC and Ullico Risk Solutions LLC, help keep costs low by allowing policyholders with similar risk profiles to share in their own insurance
777:
On May 11, 2013, the financial woes of Ullico Casualty Company (a Ullico subsidiary) led to a court order declaring the entity insolvent. The other Ullico subsidiaries and the Ullico holding company are not directly impacted by that order.
405:, then president of the Photo Engravers Union, became Union Labor Life's first president. Soon more than 60 international unions, hundreds of local unions, and more than 300 individuals, including AFL president William Green, owned stock.
721:
Three weeks later, at Ullico's annual meeting, Georgine was forced out and a new board of directors installed. In a hastily organized board meeting late on April 23, 2003, Sweeney, board member Terence M. O'Sullivan Jr. (president of the
290:
Voluntary Supplemental Insurance: Marketed directly to union members and retirees, options include Term and Whole Life, Accidental Death and Dismemberment, Accident and Hospital Indemnity Protection, Dental Insurance and Dental Discount
278:
an array of insurance products for unions, jointly managed trust funds and organized employers as well as supplemental insurance programs that are directly marketed to union members, retirees and their families. Products including:
286:
Group Term Life and Accidental Death and Dismemberment Insurance: These offerings feature a unique Strike Waiver of Premium that allows premiums to be waived during sanctioned strikes when certain eligibility requirements are
600:
their Global Crossing shares and use the proceeds to purchase up to 4,000 Ullico shares at the then-current price of $ 53.94. The increase in Global Crossing share price had not yet been recorded by Ullico's auditors,
370:, owns and operates natural gas distribution systems in Indiana, Ohio, North Carolina, Maine, Montana, and West Virginia. Hearthstone also owns and operates water and wastewater utilities in Arizona and Michigan.
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Global Crossing shares had fallen nearly 50 percent from their 1999 peak, but this would not be recorded in the auditor's statement until the next regularly scheduled annual re-evaluation of the share price.
669:
Thompson's report was completed in November 2002, but its release was hotly debated. Thompson and two investigators, Robert W. Tarun and Stephen J. Senderowitz (both former prosecutors with the
573:
A larger and more significant scandal also occurred in 2002, in which Ullico officers and directors were accused of engaging in insider dealing, stock price manipulation and other offenses.
1708:
408:
Over the years, as the needs of unions and their members evolved, Union Labor Life grew and diversified, offering health insurance, fiduciary liability insurance, investment products for
774:
By year-end 2010, under new day-to-day management and a revamped Board of Directors, the company has returned to its solid financial footing with $ 6 billion of assets under management.
785:
reversed a final summary judgment entered in favor of Ullico, concluding that a real estate broker had an ownership interest in purchase money deposits held in an escrow trust account.
626:
about Ullico's financial solvency. Ullico then issued more stock, raising $ 50 million from its shareholders, and agreed to sell its newly completed downtown office building near the
554:
1713:
1703:
1684:
Guide to The Union Labor Life Insurance Company. Publications. 5162. Kheel Center for Labor-Management Documentation and Archives, Martin P. Catherwood Library, Cornell University.
690:
The fate of the Thompson report led to a number of lawsuits. The Maryland Insurance Administration subpoenaed the report, forcing Ullico to challenge the subpoena in court. The
755:
252:, union officials, union members and union benefit funds. The stock's value changes once a year when company directors set a new share price based on the advice of independent
228:
759:
723:
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1927: Union Labor Life opens for business on May 1, 1927, in Washington, D.C. Its first group policy was written for the Federal Employees Local 105 of Washington, D.C.
1718:
345:
1404:
801:
731:
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1957: The company purchases and merges with the American Standard Life Insurance Company, founded by the International Brotherhood of Electrical Workers in 1924.
469:
1999: UlliCare®, a managed care health plan, is introduced. Ullico also buys Tri-City Brokerage, the largest and only independent national insurance wholesaler.
231:, became the company's first president. Ullico is one of the largest insurance and investment services companies for trade union members in the United States.
557:
hired Zenith Administrators, a former Ullico subsidiary, to oversee the union's $ 1.7 billion pension and benefit funds. In 2002, federal prosecutors and the
1373:"Plaza Tower Realty Group, LLC v. 300 South Duval Associates, LLC, and The Union Labor Life Insurance Company, 16 Fla. L.W. 1491 (Fla. 3rd DCA May 24, 2017)"
360:
475:
2008: Ullico Captive, PCC is established to offer alternative risk solutions through the Life and Health and Property and Casualty lines of business.
315:
Commercial Lines: The Property and Casualty portfolio includes Property, General Liability, Automobile, Umbrella and Workers’ Compensation coverage.
520:
occurred in 1991. In May of that year, the health care committee of the AFL-CIO executive council voted to reject a proposal to support a national
356:
492:
Ullico expanded significantly in the 1990s, creating a large number of strategic alliances with other insurance companies and making a number of
701:
accept the report and release it to the public, but voted against acceptance of the report's demand that board members surrender their profits.
782:
1588:
936:
35:
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1987: Ullico Inc. is established as a holding company for the company's subsidiaries and assets. A number of new ventures quickly follow.
670:
565:—who was a director of Ullico. The Labor Department ended up suing Ullico and Zenith Administrators for mismanaging the union's funds.
303:
Ullico Casualty Group creates insurance products that mitigate fiduciary risks to union workplaces and its trustees. Products include:
697:
In late February 2003, Sweeney threatened to debate the Ullico stock sale in an open meeting of the AFL-CIO executive council in May.
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also filed suit to force Ullico to release the report. Even the U.S. Department of Labor filed suit to force the report into public.
54:
558:
72:
893:
656:
460:
1986: Ullico Casualty begins to market Fiduciary Liability insurance to funds and trustees as other carriers abandon the market.
363:(SIPC). The company markets and sells products managed through UIA and group annuity contracts offered through Union Labor Life.
705:
unions argued that surrendering profits was the only way to restore confidence in the labor movement. But other unions, led by
1341:
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2006: Ullico becomes a registered broker and dealer with the National Association of Securities Dealers (NASD) and the SEC.
1259:
Georgine effectively withdrew his name as a candidate as chairman of Ullico as well, for the chair must be a board member.
294:
Union Labor Life also offers Group Vision Insurance, Group Prescription Benefit Management and Group Disability Insurance.
427:
1932: Union Labor Life begins offering retirement annuities and issues its first stockholder and policyholder dividends.
398:
216:
684:
534:
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investigated the company for allegedly obtaining the contract through the influence of international union president
50:
367:
481:
2010: In December 2010, the Ullico Board appoints Edward M. Smith as the company's new chief executive officer.
521:
863:
348:(SEC), provides investment advice to institutional investors with a focus on jointly managed, multi-employer
663:
538:
496:. Beginning in the late 1990s, the organization experienced a range of problems and challenges, including a
329:
751:
601:
204:
1523:
Greenhouse, Steven. "Report Said Directors of Union-Owned Insurer Should Return Unfair Trading Profits."
366:
Hearthstone Holdings, Inc., a portfolio company of Ullico's Infrastructure Fund that is headquartered in
1316:
743:
1698:
436:
1946: Union Labor Life establishes company-paid-for insurance and pension plans for its own employees.
643:
union members' investments had suffered from the bankruptcy. The paper also discovered that a federal
659:
517:
497:
269:
Group) and Investment Services (Ullico Investment Advisers Inc. and Ullico Investment Company Inc.)
691:
562:
241:
1165:
Greenhouse, "Report Said Directors of Union-Owned Insurer Should Return Unfair Trading Profits,"
710:
586:
119:
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subpoenaed Georgine to testify about the Ullico stock trading scheme, but Georgine asserted his
478:
2009: Ullico Casualty Company posts a record $ 102 million in gross written in force premiums.
1584:
652:
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1943: The organization begins offering group Accident, Health and Hospitalization insurance.
46:
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706:
605:
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1966: Group Vision, Extended Care and an extended plan of Long-Term Disability are offered.
379:
178:
147:
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2020: Ullico Benefit Solutions, LLC has signed a strategic deal with Marathon Health, LLC.
1530:
Greenhouse, Steven. "Stock Dealing at Union-Owned Insurer Creates a Schism Within Labor."
889:
590:
526:
505:
1131:
March 18, 2002; Hamburger, "How Union Bosses Enriched Themselves on an Insurer's Board,"
711:
United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry
549:
Ullico was caught up in a second conflict of interest scandal in 2002. In June 1998, the
1677:
683:
of board members did not want their role in the stock scandal made public. Board member
596:
For a variety of reasons, Global Crossing's stock price then began to decline sharply.
394:
336:
Union Labor Life's Real Estate Investment Group (REIG) is responsible for originating,
220:
174:
1372:
614:
1692:
1413:
816:
727:
550:
409:
344:
mortgage and equity investments, while UIA, a registered investment advisor with the
223:, to offer health and life insurance products specifically to working men and women.
208:
160:
1635:
Thompson, Laura K. "Union-Connected Insurer to Buy, Expand Amalgamated of Chicago."
1614:
Strope, Leigh. "House Panel Says Union Firm May Have Violated Labor, Pension Laws."
466:
1990: Trust Fund Advisors, a pension fund portfolio management company, is created.
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501:
493:
402:
388:
349:
337:
249:
224:
1246:
Greenhouse, "Stock Dealing at Union-Owned Insurer Creates a Schism Within Labor,"
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suggested and approved. See Franklin, "Sale of Stock in Unions' Firm Draws Fire,"
1010:
March 18, 2002; Boehm, "Slippery Stock Deal Benefits Union Bosses, Not Members,"
851:
454:
1979: Ullico Casualty Company is created to proceed with new kinds of insurance.
383:
1516:
Greenhouse, Steven. "Laborers' Leader Takes Over Troubled Union-Owned Insurer."
627:
341:
1551:
Hamburger, Tom. "How Union Bosses Enriched Themselves on an Insurer's Board."
644:
937:"Ullico partners with Marathon Health to bring primary care access to unions"
170:
1565:
Hamburger, Tom. "Grand Jury Reviews Stock Transactions by Insurance Firm."
1439:
Edsall, Thomas B. "ULLICO Forces Chairman Out Amid Stock-Trading Dispute."
1537:
Greenhouse, Steven. "Union Head Cites Secret Report in Quitting Insurer."
1453:
Edsall, Thomas B. "Union Insurer's Board to Review Probe of Stock Deals."
445:
1961: Group annuity actuarial and administration departments are created.
260:
billion in assets and a consolidated GAAP Equity of nearly $ 240 million.
1358:
530:
253:
1268:
Greenhouse, "Laborers' Leader Takes Over Troubled Union-Owned Insurer,"
1014:
June 24, 2002; Schwartz, "Overnight, A Firm Big Enough to Buy US West,"
421:
1925: The AFL approves the creation of a union-owned insurance company.
92:
1446:
Edsall, Thomas B. "Union Firm Pressured on Claims of Insider Trading."
1081:
February 25, 2003; Strope, "Ullico Chief Forced Out in Stock Scandal,"
1018:
May 18, 1999; Greenhouse, "Ex-Governor to Look Into Union Stock Deal,"
828:
355:
The UIC is a registered broker-dealer with the SEC and a member of the
1481:
Goodman, David. "UAW Sues Union Insurer, Seeks Probe Report Release."
1418:
Boehm, Ken. "Slippery Stock Deal Benefits Union Bosses, Not Members."
1123:
Hamburger, "Grand Jury Reviews Stock Transactions by Insurance Firm,"
1285:
June 19, 2003; Edsall, "Ullico Board Seeks Return of Stock Profits,"
245:
1127:
March 15, 2002; Hamburger, "Global Crossing courted Union Leaders,"
1460:
Edsall, Thomas B. "Uproar Over Stock Deals Divides Labor Leaders."
1194:
Greenhouse, "Union Head Cites Secret Report in Quitting Insurer,"
984:
March 26, 2002; Raab, "Critics See a Conflict in Union Contract,"
1502:
Greenhouse, Steven. "Ex-Governor to Look Into Union Stock Deal."
1097:
Edsall, "Ullico Forces Chairman Out Amid Stock-Trading Dispute,"
1432:
Edsall, Thomas B. "ULLICO Board Seeks Return of Stock Profits."
1147:
Edsall, "Union Insurer's Board to Review Probe of Stock Deals,"
442:
1959: Group Dental and Prescription benefits are first offered.
1600:
Schwartz, John. "Overnight, A Firm Big Enough to Buy US West."
1474:
Franklin, Stephen. "Sale of Stock in Unions' Firm Draws Fire."
1220:
Goodman, "UAW Sues Union Insurer, Seeks Probe Report Release,"
666:(a large and prestigious D.C. law firm), to review the sales.
451:
1977: Mortgage Separate Account J (J for Jobs) is introduced.
18:
1207:
Edsall, "Union Firm Pressured on Claims of Insider Trading,"
1621:
Strope, Leigh. "Lawyer: Stock Trades Enriched ULLICO Exec."
1495:
Greenhouse, Steven. "Ex-Chairman of Insurer Won't Testify."
1628:
Strope, Leigh. "ULLICO Chief Forced Out in Stock Scandal."
1671:
1593:
Raab, Selwyn. "Critics See a Conflict in Union Contract."
1572:
Irwin, Neil. "Unions Invest $ 50 Million More in ULLICO."
1558:
Hamburger, Tom. "Global Crossing Courted Union Leaders."
1655:
Waxman, Sharon. "DreamWorks Drops Plan for New Studios."
1607:
Strope, Leigh. "Feds Sue Union-Owned Insurance Company."
1425:
Chen, Kathy. "Labor Department Is Suing 2 ULLICO Units."
1038:
Greenhouse, "Ex-Governor to Look Into Union Stock Deal,"
762:
right against self-incrimination and refused to testify.
401:(AFL), saw the value in a union-owned insurance company.
1583:
Albany, N.Y.: State University of New York Press, 1989.
457:
1983: Ullico headquarters move back to Washington, D.C.
207:
insurance and financial services holding company in the
1488:
Gottlieb, Jenna. "Hartford Buys Union Labor Policies."
555:
United Brotherhood of Carpenters and Joiners of America
430:
1935: Company headquarters move to New York, New York.
42:
16:
Financial services holding company in the United States
1342:"Delaware Department of Insurance - State of Delaware"
1054:
Franklin, "Sale of Stock in Unions' Firm Draws Fire,"
894:"Reforming Pensions While Retaining Shareholder Voice"
312:
management of the union and personal injury liability.
1289:
May 14, 2003; Greenhouse, "The Fighting O'Sullivan,"
1281:
Strope, "Lawyer: Stock Trades Enriched Ullico Exec,"
864:"Ullico's Hearthstone Closes Acquisition of Hope Gas"
1359:"Ullico | Ullico Casualty Company Receivership"
1302:
Greenhouse, "Ex-Chairman of Insurer Won't Testify,"
1181:
Strope, "Ullico Chief Forced Out in Stock Scandal,"
1110:
Irwin, "Unions Invest $ 50 Million More in Ullico,"
1006:
Hamburger, "Global Crossing courted Union Leaders,"
756:
United States House Committee on Education and Labor
229:
International Photo-Engravers Union of North America
189:
53:, and by adding encyclopedic content written from a
184:
166:
154:
143:
125:
115:
107:
99:
1233:Strope, "Feds Sue Union-Owned Insurance Company,"
980:Chen, "Labor Department Is Suing 2 Ullico Units,"
647:was already investigating the stock transactions.
750:These revelations led to an investigation by the
328:Ullico offers products and services designed for
1709:Financial services companies established in 1927
346:United States Securities and Exchange Commission
1509:Greenhouse, Steven. "The Fighting O'Sullivan."
1143:
1141:
1093:
1091:
732:International Brotherhood of Electrical Workers
545:Conflict of interest in pension fund management
1177:
1175:
724:Laborers' International Union of North America
1714:Insurance companies based in Washington, D.C.
1704:Life insurance companies of the United States
1161:
1159:
1157:
1034:
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1030:
1028:
8:
1544:Greenwald, Judy. "Tri-City Brokerage, Inc."
976:
974:
960:
958:
512:AFL-CIO support for single-payer health care
85:
1581:William Green: Biography of a Labor Leader.
1050:
1048:
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361:Securities Investor Protection Corporation
91:
84:
1467:Fitch, Robert. "Big Labor's Big Secret."
73:Learn how and when to remove this message
1382:. Florida Third District Court of Appeal
1002:
1000:
998:
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1719:1927 establishments in Washington, D.C.
922:Greenwald, "Tri-City Brokerage, Inc.,"
794:
357:Financial Industry Regulatory Authority
783:Florida Third District Court of Appeal
34:contains content that is written like
7:
1414:"Vision Insurance Servies." Ullico.
671:United States Department of Justice
1650:"ULLICO: History," ULLICO, no date
213:Union Labor Life Insurance Company
103:Union Labor Life Insurance Company
14:
964:Fitch, "Big Labor's Big Secret,"
559:United States Department of Labor
248:permit shares to be held only by
244:. The company's constitution and
630:to raise another $ 160 million.
215:, it was founded in 1927 by the
23:
717:New board and new investigation
638:Beginning March 15, 2002, the
387:much risk for many companies’
219:(AFL) and its then president,
1:
766:Regaining financial stability
577:Structure of the insider deal
397:, the first president of the
898:Boston University Law Review
817:"Vision Insurance Services".
399:American Federation of Labor
217:American Federation of Labor
1642:"ULLICO, Georgine Settle."
678:Debate over Thompson report
340:and managing the company's
1735:
1420:Investor's Business Daily.
1321:Pensions & Investments
1012:Investor's Business Daily,
1644:Pensions and Investments.
368:Morgantown, West Virginia
90:
664:Winston & Strawn LLP
662:and chairman and CEO of
522:single-payer health care
852:"Ullico - Our Company".
569:Insider dealing scandal
539:chief executive officer
330:institutional investors
1652:accessed Jan. 14, 2007
1407:Bloomberg Businessweek
804:Bloomberg Businessweek
752:United States Congress
602:PricewaterhouseCoopers
131:; 97 years ago
781:On May 24, 2017, the
744:deferred compensation
299:Property and casualty
55:neutral point of view
1637:The American Banker.
1567:Wall Street Journal.
1560:Wall Street Journal.
1553:Wall Street Journal.
1427:Wall Street Journal.
1405:"Company Overview."
1133:Wall Street Journal,
1129:Wall Street Journal,
1125:Wall Street Journal,
1008:Wall Street Journal,
982:Wall Street Journal,
802:"Company Overview."
660:governor of Illinois
518:conflict of interest
498:conflict of interest
384:labor leaders formed
211:. Formerly known as
1546:Business Insurance.
924:Business Insurance,
709:, president of the
692:United Auto Workers
640:Wall Street Journal
563:Douglas J. McCarron
378:On May 1, 1927, in
324:Investment services
242:joint stock company
227:, president of the
87:
47:promotional content
1646:November 14, 2005.
1639:September 1, 2000.
1611:February 13, 2003.
1492:February 15, 2005.
1478:February 25, 2003.
1471:December 28, 2005.
1464:February 23, 2003.
1457:November 26, 2002.
1237:February 13, 2003.
1151:November 26, 2002.
1058:February 25, 2003.
968:December 28, 2005.
730:(president of the
587:telecommunications
120:Financial services
49:and inappropriate
1630:Associated Press.
1623:Associated Press.
1618:October 28, 2003.
1616:Associated Press.
1609:Associated Press.
1589:978-0-88706-871-3
1541:December 3, 2002.
1485:January 30, 2003.
1483:Associated Press.
1450:January 21, 2003.
1380:3dca.flcourts.org
1283:Associated Press,
1235:Associated Press,
1224:January 30, 2003.
1222:Associated Press,
1211:January 21, 2003.
1198:December 3, 2002.
1183:Associated Press,
1083:Associated Press,
870:. August 31, 2022
653:James R. Thompson
198:
197:
83:
82:
75:
1726:
1680:
1675:
1674:
1672:Official website
1657:Washington Post.
1602:Washington Post.
1576:October 2, 2003.
1574:Washington Post.
1548:October 4, 1999.
1490:American Banker.
1476:Chicago Tribune.
1462:Washington Post.
1455:Washington Post.
1448:Washington Post.
1441:Washington Post.
1434:Washington Post.
1392:
1391:
1389:
1387:
1377:
1369:
1363:
1362:
1355:
1349:
1348:
1346:
1338:
1332:
1331:
1329:
1328:
1313:
1307:
1300:
1294:
1287:Washington Post,
1279:
1273:
1266:
1260:
1257:
1251:
1244:
1238:
1231:
1225:
1218:
1212:
1209:Washington Post,
1205:
1199:
1192:
1186:
1179:
1170:
1163:
1152:
1149:Washington Post,
1145:
1136:
1121:
1115:
1114:October 2, 2003.
1112:Washington Post,
1108:
1102:
1099:Washington Post,
1095:
1086:
1079:Chicago Tribune,
1074:
1068:
1065:
1059:
1056:Chicago Tribune,
1052:
1043:
1036:
1023:
1016:Washington Post,
1004:
989:
978:
969:
962:
953:
952:
950:
948:
933:
927:
926:October 4, 1999.
920:
914:
913:
911:
909:
890:Webber, David H.
886:
880:
879:
877:
875:
860:
854:
849:
843:
842:
840:
839:
825:
819:
814:
808:
799:
707:Martin Maddaloni
606:share repurchase
380:Washington, D.C.
359:(FINRA) and the
194:
191:
148:Washington, D.C.
139:
137:
132:
129:May 1, 1927
95:
88:
78:
71:
67:
64:
58:
36:an advertisement
27:
26:
19:
1734:
1733:
1729:
1728:
1727:
1725:
1724:
1723:
1689:
1688:
1670:
1669:
1666:
1597:August 9, 1999.
1595:New York Times.
1579:Phelan, Craig.
1569:March 15, 2002.
1562:March 18, 2002.
1539:New York Times.
1532:New York Times.
1525:New York Times.
1518:New York Times.
1511:New York Times.
1504:New York Times.
1497:New York Times.
1469:New York Times.
1443:April 24, 2003.
1429:March 26, 2002.
1409:. June 6, 2011.
1401:
1396:
1395:
1385:
1383:
1375:
1371:
1370:
1366:
1357:
1356:
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1344:
1340:
1339:
1335:
1326:
1324:
1315:
1314:
1310:
1304:New York Times,
1301:
1297:
1291:New York Times,
1280:
1276:
1270:New York Times,
1267:
1263:
1258:
1254:
1248:New York Times,
1245:
1241:
1232:
1228:
1219:
1215:
1206:
1202:
1196:New York Times,
1193:
1189:
1180:
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1167:New York Times,
1164:
1155:
1146:
1139:
1122:
1118:
1109:
1105:
1101:April 24, 2003.
1096:
1089:
1075:
1071:
1066:
1062:
1053:
1046:
1040:New York Times,
1037:
1026:
1020:New York Times,
1005:
992:
988:August 9, 1999.
986:New York Times,
979:
972:
966:New York Times,
963:
956:
946:
944:
935:
934:
930:
921:
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871:
862:
861:
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850:
846:
837:
835:
827:
826:
822:
815:
811:
806:. June 6, 2011.
800:
796:
791:
768:
760:Fifth Amendment
719:
685:John J. Sweeney
680:
636:
634:Scandal exposed
591:Global Crossing
579:
571:
547:
527:Robert Georgine
516:Ullico's first
514:
506:insider trading
504:management and
490:
419:
376:
326:
301:
275:
273:Life and health
266:
237:
188:
157:
150:, United States
135:
133:
130:
79:
68:
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40:
28:
24:
17:
12:
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5:
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1691:
1690:
1687:
1686:
1681:
1665:
1664:External links
1662:
1661:
1660:
1653:
1647:
1640:
1633:
1626:
1625:June 19, 2003.
1619:
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1598:
1591:
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1570:
1563:
1556:
1555:April 5, 2002.
1549:
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1534:April 8, 2003.
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1521:
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1499:June 18, 2003.
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1069:
1060:
1044:
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990:
970:
954:
928:
915:
881:
855:
844:
829:"About Ullico"
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205:privately held
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51:external links
31:
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1659:July 3, 1999.
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1513:May 18, 2003.
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1317:"At Deadline"
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943:. 12 May 2020
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728:Edwin D. Hill
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623:
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615:rank and file
610:
607:
603:
597:
594:
592:
588:
585:, founder of
584:
576:
574:
568:
566:
564:
560:
556:
553:local of the
552:
551:New York City
544:
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63:November 2020
56:
52:
48:
44:
38:
37:
32:This article
30:
21:
20:
1656:
1643:
1636:
1632:May 8, 2003.
1629:
1622:
1615:
1608:
1601:
1594:
1580:
1573:
1566:
1559:
1552:
1545:
1538:
1531:
1524:
1520:May 9, 2003.
1517:
1510:
1506:May 1, 2002.
1503:
1496:
1489:
1482:
1475:
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1454:
1447:
1440:
1433:
1426:
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1384:. Retrieved
1379:
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1336:
1325:. Retrieved
1323:. 2006-12-15
1320:
1311:
1303:
1298:
1290:
1286:
1282:
1277:
1272:May 9, 2003.
1269:
1264:
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1195:
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1185:May 8, 2003.
1182:
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1128:
1124:
1119:
1111:
1106:
1098:
1085:May 8, 2003.
1082:
1078:
1072:
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1042:May 1, 2002.
1039:
1022:May 1, 2002.
1019:
1015:
1011:
1007:
985:
981:
965:
945:. Retrieved
940:
931:
923:
918:
906:. Retrieved
901:
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884:
872:. Retrieved
867:
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836:. Retrieved
832:
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812:
803:
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780:
776:
773:
769:
749:
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703:
699:
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639:
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624:
620:
611:
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583:Gary Winnick
580:
572:
548:
515:
502:pension fund
494:acquisitions
491:
483:
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450:
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441:
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432:
429:
426:
423:
420:
407:
403:Matthew Woll
393:
389:underwriters
377:
365:
354:
350:Taft-Hartley
338:underwriting
335:
327:
302:
276:
267:
258:
250:trade unions
238:
225:Matthew Woll
212:
200:
199:
144:Headquarters
108:Company type
69:
60:
45:by removing
41:Please help
33:
908:18 November
628:White House
541:of Ullico.
342:real estate
201:Ullico Inc.
156:Area served
86:Ullico Inc.
1693:Categories
1399:References
1327:2023-01-10
941:vermontbiz
838:2023-01-10
738:Georgine.
657:Republican
645:grand jury
136:1927-05-01
43:improve it
655:, former
581:In 1997,
535:president
291:programs.
264:Divisions
171:Insurance
892:(2019).
609:shares.
589:company
531:chairman
525:cast by
488:Scandals
417:Timeline
254:auditors
235:Overview
167:Products
116:Industry
100:Formerly
1699:AFL–CIO
1386:24 July
947:28 July
874:11 June
374:History
352:funds.
308:assets.
185:Website
134: (
126:Founded
111:Private
1587:
904:: 1011
868:Ullico
833:Ullico
754:. The
726:) and
283:needs.
246:bylaws
240:held,
190:ullico
179:health
1376:(PDF)
1345:(PDF)
789:Notes
319:risk.
203:is a
1585:ISBN
1388:2017
949:2020
910:2019
876:2024
651:ask
537:and
287:met.
192:.com
177:and
175:life
500:in
1695::
1378:.
1319:.
1174:^
1156:^
1140:^
1090:^
1047:^
1027:^
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973:^
957:^
939:.
902:99
900:.
896:.
866:.
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173::
1390:.
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1330:.
951:.
912:.
878:.
841:.
138:)
76:)
70:(
65:)
61:(
57:.
39:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
