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The insatiable greed of Angela Braly

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[Welcome, Crooks & Liars readers! -- lambert]

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Angela Braley addresses WellPoint's Board of Directors

The insurer, boosting Angela F. Braly's compensation package up to $13.1 million, draws further ire from policyholders in California.

WellPoint Inc. revealed Friday that it boosted its chief executive's compensation 51% last year, even as the health insurance giant prepared massive rate increases in California that embroiled it in a national controversy over skyrocketing health insurance costs.

The proposed rate increases of up to 39% in individual policies turned the insurer into a flash point in the healthcare overhaul battle, breathing new life into President Obama's effort at a crucial time in the debate.

Chief Executive Angela F. Braly saw her total compensation shoot to $13.1 million, from $8.7 million a year earlier, according to a filing with the Securities and Exchange Commission. At least three other WellPoint executives got compensation increases of as much as 75%.

Just for the record, this month, this month alone, Braley dumped 32,302 shares of WellPoint stock for a total of $2,000,233, because it seems $13.1 million is not enough to get by on.

Clearly the entire gangBoard of Directors have treated health care deform as the occasion for a great orgy of stock dumping. Lori Beer dumped $275,106 worth of WellPoint stock, Randall Brown $313,731, John Cannon $737,123, Wayne Deveydt $2,420,073, Fluegel Bradley $357,410, Lewis Dijuana $404,833, Victor Liss $623,000, Cynthia Miller $288,614, Martin Miller $904,303, Samuel Nussbaum $320,724, Brian Sassi $447,691, Jackie Ward $947,063.

Readers, this means that in March alone, these parasites siphoned off $10,039,904. These are not the actions of business management, these are the actions of a mafia bust out operation.

How much health care could your state buy for $10,039,904 and why should we sacrifice that amount of human life to maintain these parasites to the style to which they have become accustomed?

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Submitted by lambert on

The Bloomington Alternative:

[Rob] Stone, an emergency physician at Bloomington Hospital, director of Hoosiers for a Commonsense Health Plan (HCHP) and board member of Physicians for a National Health Plan, is working on a two-pronged campaign for changing the health care status quo.

One is an "inside" approach, offering a resolution for the health insurance company Wellpoint stockholders to vote on. The resolution calls for WellPoint to study the feasibility of returning to its nonprofit status.

Several shareholders, including Stone, have successfully placed the resolution on WellPoint's proxy statement, released this week and to be voted on at WellPoint's annual stockholders' meeting on May 18 in Indianapolis.

The resolution also asserts that "no country has achieved universal health care through for-profit health insurance. ... WellPoint was a nonprofit insurance company before it demutualized, raised capital through stock offerings, merged with, acquired, and demutualized other nonprofit Blue Cross/Blue Shield companies [in the early '90s]."

With its for-profit status, WellPoint has changed its focus from patient care to profits for its stockholders.

Hoosier health care activists are targeting WellPoint because it's the largest corporation in the health insurance industry and has headquarters in Indianapolis. Further, WellPoint is a leader in the industry in marketing high-deductible policies.

Then Wellpoint should do quite well selling junk insurance to the peasants that HCR (Higher Corporate Returns) forces to buy it.

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Submitted by MoveThatBus on

insurance industry to pay any one employee more money than any person needs to live a very comfortable and luxurious lifestyle. Imagine the premium cost for people if this one individual wasn't taking the premiums from several thousand people as her personal treasure each year? I'll bet premiums could be reduced by $100 a month for everyone if this woman was making $1M a year. Who can't live really well on $1M a year?

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