Wednesday, April 18, 2012

Nah ... We Don't Need More Regulation.

The Boston Globe has a story on the front page this morning about Liberty Mutual ... the big insurance company. They run all those warm-and-fuzzy commercials on PBS's Antiques Roadshow about how much they care about all those things that are so important to folks like you and me.

Anyway, the Globe story reports that the newly-retired head of Liberty Mutual, Ted Kelly, was paid $50 million a year for the past several years. Further, according to the Globe, the company maintains a fleet of five corporate jets.

Guess what a frequent destination for those jets has been.

Vero Beach, Florida.

Guess who owns a fancy house near Vero Beach?

Yup. Ted Kelly.

Makes you feel all warm and fuzzy, doesn't it ... knowing that, if we will just leave it alone, the market will regulate itself very nicely.


1 comment:

md said...

How is it greedy? He has done so much for the company and LM is lucky to have had him steering the company. It's sad to see people work hard do well and then be torn to bits by envious, incapable people. Class warfare continues.
Profit is not a 4 letter word and neither is success.
It's baffling that people think the government knows best, despite it's daily failures. We always want what we don't understand regulated, unless it comes to one's own house. What if government regulated your dribble words?