CEO Words Don't Provide Comfort

CEO Words Don't Provide Comfort

There are 3 comments on the Hartford Courant story from Mar 21, 2009, titled CEO Words Don't Provide Comfort. In it, Hartford Courant reports that:

Regarding The Phoenix Cos. CEO Dona D. Young's March 15 letter ["Phoenix Companies Remain Healthy"], wherein she assured us that the Phoenix insurance companies "remain healthy today": Forgive us for being skeptical of Ms.

Join the discussion below, or Read more at Hartford Courant.

Young is Inept


#1 Mar 22, 2009
Great letter. Dona Young was bold enough in her letter to say that she was "Protecting shareholder value" at a time when the stock was worth 50 cents a share. The market values Phoenix at about $53million (# of shares outstanding x 57 cents a share). At that price, the Boat Building would sell for more then what the market values the company. Dona Young is inept.

South Hadley, MA

#2 Mar 23, 2009
It's as though they think putting into words some outright lie makes them true. And, no, the public is generally not as stupid as one would have to be to buy this crap (no pun intended). The worst the government could do is give money to a company like this that has spit on its responsibilities to employees, shareholders, distribution partners and public trust. Let it sink; that's where it was being steered. Or is Wehr some kind of magician?
Ernest Rankin

Mount Prospect, IL

#3 Mar 25, 2009
If you wonder why Phoenix is in trouble, see the lawsuit filed in the Eastern District US Court # 09 1228...PHL v. Hersko. It seems that PHL gives back 90% of premiums to agents... then overpays them on top of that ! If you have have a big book of business, the CEO gets a bonus, but the company actually LOSES money.

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