Monthly Archives: <span>January 2008</span>

Volunteer Sets Fire to Radio Station Over Music Picks

A volunteer at a community radio station set fire to the station because he was upset that his song selections for an overnight Internet broadcast were changed, police said. Paul Webster Feinstein, 24, has been charged with second-degree felony arson …

La. Auditor Suspects Illegal Insurance Rate Fixing at Citizens

Louisiana’s legislative auditor said Jan. 28 he suspects illegal price-fixing has occurred at the state’s taxpayer-backed property insurance company, though he told a legislative panel that he has no proof. Steve Theriot told the Senate Insurance Committee that he believes …

Accused Wis. Arsonist Found Not Mentally Responsible

A man who admitted setting fires that caused an estimated $500,000 damage has been found not guilty by reason of mental disease or defect after a defense expert said he suffered from pyromania. Bayfield County Circuit Judge John Anderson found …

N.H. Contractor Faces Fine for Cave-In at Jobsite

Federal labor officials have proposed fining a Pembroke, New Hampshire, contractor for a cave-in hazard at a jobsite. The Occupational Safety and health Administration is proposing $76,500 in fines against East Coast Utilities for alleged serious safety violations at a …

Maine Judge Orders Priest to Pay $4.2M

A former Roman Catholic priest has been ordered to pay $4.2 million for allegedly sexually assaulting a boy in Maine in the late 1980s. Superior Court Justice Joseph Jabar ordered Raymond Melville to pay $3.2 million in compensatory damages and …

Société Générale Crisis Highlights ‘Rogue Trader’ Risk Warns Lloyd’s

The ongoing crisis at the second largest French bank, Société Générale, has prompted Lloyd’s to remind the financial community of some unfortunate facts. The bank lost €4.9 billion, or $7.25 billion, after it was forced to close out positions taken …

Arthur J. Gallagher to Sell Reinsurance Unit, Ireland Brokerage; Layoff 400

Itasca, Illinois-based insurance brokerage Arthur J. Gallagher & Co. reported a drop in profit for the fourth quarter and announced it would sell its global reinsurance operation and its small Ireland-based wholesale brokerage. In an expense-cutting move, it plans on …

NYC Judge Throws Out $1M Jell-O Wrestling Lawsuit

There’s no room for this Jell-O wrestling lawsuit. A Manhattan judge has thrown out $1 million suit against New York University by a former student who claimed he broke his hip at a Jell-O wrestling dorm party. Avram Wisnia was …

Court Asked to Decide Beneficiary in Vt. Case of Murdered Father

An insurance company holding a life insurance policy on a Vermont man who was shot to death — allegedly by his own son — wants a court to decide who gets the $150,000. Massachusetts Mutual Life Insurance Co. asked U.S. …

AIG Pays $12.5M to Settle with States Over Bid-Rigging Allegations

American International Group, Inc. (AIG) confirmed today that it has reached settlements with nine states and the District of Columbia relating to their investigations into alleged bid-rigging and price-fixing and questions about undisclosed contingent commissions paid to brokers. Under the …