| State Farm CEO: 2006 Was 'Break-Even' Year
He even called 2006 a "break-even" year, considering the multibillion-dollar losses State Farm suffered in 2001 and 2002. In some ways, 2007 could prove tougher than 2006, the year Hurricane Katrina's counterpart didn't strike. Now, forecasters are predicting a nasty hurricane season this year. In that sense, insurers likely hit a "profitability peak" in 2006, said Robert Hartwig, president and chief economist of the Insurance Information Institute in New York. While Hartwig expects a "strong" 2007, "it's almost impossible to be as strong as last year." State Farm reported a record $5.32 billion profit in 2006, up from $3.24 billion in 2005, and the insurer's net worth grew nearly 16 percent to $58.1 billion. Rust, meanwhile, made $11.66 million last year, including a $9.89 million bonus. That's a $5.26 million bump from his 2005 income of $6.4 million.
Rents start moving up again
Demand is soft for some apartments spurring a vacancy rate approaching 8 percent among several complexes surveyed by the Manteca Bulletin. That has lead to a slight retreat or stagnation in rents at those complexes. But the same comparable unit in square footage and age is in strong demand elsewhere in other Manteca complexes has prompting the first significant increases since 2001 — $15 to $70 — in the past year. And to further cloud the market, AKF Development is scrambling to try and secure 300 sewer allocations to meet what Paseo Villas community manager Sheila Lynch calls "a high demand" for luxury apartments that come with a lifestyle. "We have waiting lists to get into apartments," said Lynch as she walked through the Paseo resident's center with decor and amenities rivaling a private country club.
Being on your own will cost you
HACKENSACK, N.J. - Moving into your first apartment is a rite of passage. And like a lot of big life changes, it will cost you. Whether you'll be living in a two-family house, a garden complex or a high-rise, you'll have to pay for moving in, buying furniture and insuring your belongings. All together, the expenses will add up to thousands of dollars. Of course, the cost is worth it for the freedom of having your own space (no offense, Mom and Dad!). Here are some of the major expenses you should plan for before you make the leap into your first place: Application fee and/or credit check: When you apply for an apartment, landlords will often ask you to pay for a check of your credit history. This typically ranges from about $25 to $100.
CEO of Icagen is honored for excellence in fundraising
Kay Wagoner, chief executive of Icagen, was honored for excellence in fundraising by Women in Bio. The Bethesda, Md., organization helps foster entrepreneurship and the professional development of women in the bioscience industry.Under Wagoner's leadership, the Durham drug development company has raised more than $60 million in the past two years.Icagen started selling stock to the public in February 2005. The initial public stock offering raised about $40 million and was the first IPO by a Triangle company since September 2002.Two months ago, the company attracted $22 million in a private placement of stock from a group of venture capital firms, hedge funds and other investors.The cash is expected to last through the end of 2008, when Icagen expects to have late-stage clinical testing data for its sickle-cell therapy.
USDA Announces Crop Insurance Deadline For Virginia Nursery
Virginia nursery producers should be aware that the final date for a new applicant to apply for the 2008 nursery crop insurance is May 1, 2007, according to the Raleigh Regional Office, USDA Risk Management Agency. New applications for crop year 2008 may be accepted until May 1, 2007, with coverage beginning 30 days after receipt of your signed application. If a policy is purchased after May 1st, insurance attaches 30 days after the application is filed and the premium is prorated based on the time remaining in the crop year after insurance attaches. For existing policies, coverage will automatically attach on June 1, 2007. The crop insurance year runs from June 1 through May 31. Growers may elect to insure field-grown and container grown practices under separate policies; for example, one practice may be insured under the CAT policy and the other practice may be insured under a Buy-up policy.
Arizona House Passes Health Coverage Bills Addressing Basic ...
The Arizona House last week passed two bills related to health care. Summaries of news coverage appear below:
Individual coverage: The Arizona House on Tuesday voted 32-25 to pass a bill (HB 2757) that would allow health insurance companies to offer individual, basic health insurance policies that exclude some minimum coverage requirements, Capital Media/Arizona Daily Star reports. State Rep. Kirk Adams (R), who sponsored the legislation, said the bill would give Arizona residents a lower-cost option than policies that offer more comprehensive coverage. Health care providers say that the bill will compromise care, Capital Media/Daily Star reports (Capital Media/Arizona Daily Star, 3/14).
Purchasing pool: The state House on Thursday approved legislation that would overhaul the Healthcare Group of Arizona, a state-sponsored health insurance plan that allows small businesses and self-employed individuals to participate in a health insurance purchasing pool, the Arizona Republic reports.
New Health Plan Targets Adults Under 35
Mar. 20--NORTH HAVEN -- Aiming to increase young adults' access to health care, Anthem Blue Cross and Blue Shield has introduced an insurance plan geared toward people ages 19 to 34. The health plan, called Tonik, is designed for a demographic Anthem calls "young invincibles," or young adults who have disposable income but no health insurance coverage, according to company officials. "Many young adults lose insurance under their parents' coverage when they graduate from college, leaving them uninsured until they find a job," David R. Fusco, president of Anthem Blue Cross and Blue Shield in Connecticut, said in a written statement. "Once they find employment, they may have to wait several months to be eligible for health insurance benefits, if their employer provides health insurance." Others feel "young, healthy and invincible" and don't realize what a serious illness or accident could cost them if they are uninsured, he said.
How safe is your hospital?
21,000 Consumer Reports readers rate the care they or a relative received. What we learned can make a critical difference for you.
The quality of care you receive during a hospital stay can determine how quickly and how well you recover--or if you recover at all. You might expect consistently good care to be delivered at almost every hospital in a nation with the world's top doctors, most advanced technology, and highest per-capita spending on health care. But when we surveyed and invited e-mails from Consumer Reports readers about their recent hospital experiences, we found enormous variations. They ranged from an Alabama man's smooth-sailing, lifesaving, $1.5 million liver transplant to an 83-year-old Tennessee man's death after a careless emergency-room staff sent him home without treating the broken bones and internal injuries he had suffered from falling down the basement stairs.
Being on your own can add up quickly
HACKENSACK, N.J. - Moving into your first apartment is a rite of passage. And like a lot of big life changes, it will cost you. Whether youll be living in a two-family house, a garden complex or a high-rise, youll have to pay for moving in, buying furniture and insuring your belongings. All together, the expenses will add up to thousands of dollars. Of course, the cost is worth it for the freedom of having your own space - no offense, Mom and Dad. Here are some of the major expenses you should plan for before you make the leap into your first place: Application fee and/or credit check: When you apply for an apartment, landlords will often ask you to pay for a check of your credit history. This typically ranges from about $25 to $100. Brokers fee: At many apartment complexes, you can rent directly without a real estate agent or broker.
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