Our friend Joe Paduda is no fan of UHC�s executive stock plans, and since he�s on vacation this week, we�ll take up the slack. The Securities and Exchange Commission (SEC) has now launched an official investigation into UHC�s stock option plans. The company says that it�s cooperating with the Fed�s, which should set everyone�s mind at ease.
You may recall that, a few months ago, United�s Dr. William McGuire resigned as Chairman of the Board following a review of his stock options. The company itself also took some financial hits as a result.
Greed, of course, is not the exclusive province of insurers, but this time of year, with so many employers facing double-digit renewals, it sure looks bad when the carrier exec�s get caught with their hands in the cookie jar.
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